Transforming Urban India: A Engine for Wealth and Progress
In the October 2024 issue of Policy Watch, Anshuman Magazine, Chairman of CII National Committee on Urban Development and Housing, sheds light on the Government's ambitious urban agenda. The focus is on transforming urban areas into engines of economic growth and resilient, future-ready cities.
The Government's Smart Cities Mission seeks to create efficient, inclusive, and sustainable cities, modernising selected urban centres into technologically advanced growth engines. This mission is a significant step towards mitigating the challenges posed by environmental degradation, climate change, and geological hazards that threaten overall development in India's urban areas.
Modern infrastructure and sustainable urban planning are key to addressing these infrastructure challenges and building resilience in India's urban areas. The strain on existing infrastructure, including transportation, water supply, sanitation, and waste management, is a significant challenge. However, with the right investments and policies, cities can become more resilient and future-ready.
Meeting the demands for quality and affordable housing remains a major challenge. The government's Pradhan Mantri Awas Yojana (PMAY) aims to promote affordable housing, ensuring a healthy demand-supply equilibrium. Policies around affordable housing and incentivising developers and buyers are crucial to address this issue.
India's rapid urbanization trajectory positions cities as pivotal in achieving the country's vision of becoming a developed economy by 2047. The urban population growth presents significant opportunities for economic growth and development. By addressing the challenges of rapid urbanization and creating a conducive environment for investment and innovation, initiatives like the Smart Cities Mission are helping unlock the full potential of Indian cities.
The government's urban agenda also prioritises cities as key drivers of economic growth and innovation hubs. Urban renewal projects and initiatives to improve urban governance and planning are part of the Government's efforts to promote urban development. Collaborative efforts and proactive policy implementation can help in anticipating and preventing losses, optimising resource allocation, and adopting the latest technologies and innovations in real estate assets.
A futuristic vision is important in mitigating these risks and building resilience in India's urban areas. The third term of the Hon'ble Prime Minister offers a perfect opportunity to craft a new narrative of growth, with a focus on proactive policies, robust execution, holistic development, and prosperity for 'Viksit Bharat'.
In conclusion, the Government's Smart Cities Mission, PMAY, and other urban renewal projects are crucial steps towards creating efficient, inclusive, and sustainable cities. These initiatives aim to transform selected cities into modern, sustainable, and technologically advanced growth engines, thereby contributing significantly to India's vision of becoming a developed economy by 2047.
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