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In what can be called a major motivation for Indian tech firms, <keyword id="29369" type="COMPANY" weightage="20" keywordseo="Amrut">Amrut</keyword> Software, an end-to-end Software, BPO services and solutions provider has become a <keyword id="1505863" type="COMPANY" weightage="20" keywordseo="GitHub">GitHub</keyword> distributor for India region. 
 
GitHub hosts world’s biggest open source community along with the most popular version control systems, configuration management and collaboration tools for software developers. It has some of the largest installations of repositories in the world. 
 Amrut currently has five offices in India and a customer base of top 100 organizations to most small and medium organisations. With a focus to provide an end-to-end roadmap from enterprise and consulting to a broad offering of practical and technical services which enables businesses to grow faster and prosper, Amrut is currently focusing in opening new opportunities for India by marketing, selling and supporting the Github.com and <keyword id="3941335" type="UNKNOWN" weightage="20" keywordseo="github-enterprise">Github Enterprise</keyword> product lines for the India region. 
 
 
 
India’s Software-as-a-Service market may grow to $1 billion. Globally, this market last year was worth $31 billion. The demand will mainly be driven by business looking to focus more on their core operations. The market for SaaS, a pay-as-you-go software distribution model, was pegged at $300 million in 2014-15. 
 Amrut helps to integrate products and processes. Amrut customises products like <keyword id="3338825" type="UNKNOWN" weightage="20" keywordseo="JIRA">Jira</keyword>, GitHub, confluence, Nagios etc to integrate with DevOps requirements. Hence whether you are small startup or a large company Amrut helps to monetise your current spending on software products into workflow of your choice. Amrut provides help from BPO, product sourcing, customisation to software consultancy. “Now Amrut Software has an excellent portfolio for DevOps integration and implementation as with the addition of GitHub to its product line, customers will be able to take benefit from integrations that GitHub and Jira provide and reuse most of the investment they have already made,” <keyword id="257839" type="PERSON" weightage="20" keywordseo="Abhay-Bhalerao">Abhay Bhalerao</keyword>, MD, Amrut Software said.

This Indian
software company just partnered with the world’s biggest open source community

Atal Mission for Rejuvenation and Urban Transformation (<keyword id="29369" type="COMPANY" weightage="20" keywordseo="Amrut">AMRUT</keyword>), the Indian government’s ambitious plan to push urban development, recently got more steam and an increased support. Under the transformation plan, the government plans for 500 cities for the next three months worth Rs 25,000 crore. 
 AMRUT was launched in June 2015, and focuses on revamping 500 cities where it targets on basic human needs like on water supply, sewerage network and community parks. Yearly, <keyword id="3743689" type="UNKNOWN" weightage="20" keywordseo="state-annual-action-plans">State Annual Action Plans</keyword> are sent to the apex committee which is headed by the secretary. The committee then clears the projects as states send them to be sanctioned. 
 The <keyword id="6696781" type="ORGANIZATION" weightage="20" keywordseo="Urban-development-ministry">Urban Development Ministry</keyword>, however, is looking forward to change the approach and sanction projects totally. According to the sources, this will be helping states in gauging the funds and move to area based approach rather than project based approach. The states have been advised to send their plans for the next three fiscals 2017-18, 2018-19 and 2019-20 within this month. The apex committee will then meet and consider plans that are wise and sanction them. "This way the states save time as they don't have to come for each project. Also they know the funds they would have for the next three fiscals and can plan area development and also how much they need to raise through public-private partnerships,” a ministry official told ET. 
(image: indiatimes)

Indian Govt’s ambitious urban development plan gets Rs 25,000 crore push

Prime Minister <keyword id="6354477" type="PERSON" weightage="100" keywordseo="Narendra-Modi">Narendra Modi</keyword> today said residents and city leadership should play the major role in deciding how their city will grow and not private property developers, as he unveiled three mega flagship urban schemes aimed at developing cities as engines of growth. Urbanisation should be viewed as an opportunity and urban centres should be viewed as growth engines, he said launching the Atal Mission for Rejuvenation and <keyword id="2130852" type="UNKNOWN" weightage="60" keywordseo="Urban-transformation">Urban Transformation</keyword> (AMRUT), <keyword id="2738020" type="UNKNOWN" weightage="100" keywordseo="Smart-Cities-Mission">Smart Cities Mission</keyword>, and <keyword id="2481158" type="UNKNOWN" weightage="100" keywordseo="Housing-for-All">Housing for All</keyword> (Urban) here. 

	"Under these schemes we can go ahead and we can do it together (Centre and state). India is rapidly urbanising. Every year Hindustan gives birth to a small country," he said. 
 

	While 500 cities will be developed under AMRUT scheme, there would be 100 Smart Cities over five years and Housing for All aims construction of 2 crore houses in urban areas in the next seven years. 
 

	Smart City will be selected through a competition among cities while 500 cities are being identified under AMRUT. 
 

	Referring to Smart City, Modi said, "For the first time in India, a challenge was being floated, in which the citizens of urban India could contribute in the formulation of development visions of their cities." 
 

	Those cities which were able to competitively meet the required parameters would be developed as smart cities. 
 

	"This competitive mechanism would end the top-down approach, and lead to people-centric urban development," he said. 
 

	"These urban development schemes were not prepared by the Government alone, but involved perhaps the biggest consultation exercise ever taken by the Union Government, involving all stakeholders and examining global best practices," he said. 
 

	Stressing that all schemes for urban development should move forward based on people's participation, Modi said, "There is a lack of holistic vision about urban planning, and expansion is driven not by the administrators of a city, but by property developers. 
 

	"Through AMRUT, the aim of the Government is to give cities themselves the chance to plan their future growth," he said. 
 

	The Prime Minister said the people assembled for the function here had on them the collective responsibility for better quality of life for 40 percent of India's population that either lived in cities, or were dependent on cities for their livelihood. 
 

	The Prime Minister stressed that aspirations of migrants from rural areas, and slum dwellers, should be balanced with the changing global environment and said ensuring a good life for them is the government's responsibility. 
 

	Giving a simple vision of a smart city, he said it is one which was a step or two ahead of people's aspirations. 
 

	"There should be facility for walk-to-work because today a person spends maximum time in travelling to office and gets very little time to work," Modi said. 
 

	Besides transportation, technology also plays a key role and there should also be provision for energy efficiency, and cycling etc. 
 

	Lamenting the state of affairs in urban areas, he said, "If this had been done 25-30 years ago, it would have led to good results today, but better late than never. Schemes which had a clear vision and were people-centric, were the need of the hour." 
 

	Seeking replication of best practices from across the country, the Prime Minister mentioned Hyderabad's tax collection system, Karnataka's efforts for solid waste management, and Chhattisgarh's work to eliminate open defecation. 
 

	Chhattisgarh, which is fighting Maoist menace, is making an all out effort to make the state free from open defecation, he said. 
 

	Mentioning the challenge of rising population, he said all possible avenues should be explored to find the resources for urban development. 
 

	Highlighting the importance of the housing scheme, the Prime Minister observed that, "A house was a turning point in the lives of poor, which leads towards a better life and the government's effort was to not just provide a house, but to provide the right environment to live life to the fullest." 
 

	Citing the existing housing shortage of 2 crore units, he said India would complete 75 years of Independence in 2022, and by then, it was "our responsibility to provide a house for everyone". 
 

	Noting that public representatives and leaders are remembered by the good work they did in their terms, the Prime Minister asked urban leaders to contribute to doing something for the good of the people. 
 

	If a person gets an opportunity and does something worthwhile, it will be remembered even after 50 years, he said. 
 

	Asking chairpersons of municipalities and mayors of urban local bodies to do some good work in their terms, Modi said, "You can show your grandson whether it is any building or whatever you have done 50 years ago. The success parameter of life is that what you have done for the people." 
 

	The Prime Minister appreciated people for their interest and work in the Swachh Bharat initiative, as well as the positive role played by media in generating awareness. 
 

	"All media men are doing it on their own and media role in Swachh Bharat campaign will always be remembered for this, he said. 
 

	On the rural and urban divide, the Prime Minister said urban and rural development in the country should be complimentary. 
 

	"One way of doing this was to ensure waste water management in urban areas, so that the treated water could be returned to rural areas for irrigation. Similarly solid waste management could generate compost which could act as organic fertiliser for the surrounding rural areas," he said. 
 

	Chief Minister of Maharashtra Devendra Fadnavis, Haryana CM Manohar Lal Khattar, Jammu and Kashmir Deputy CM Nirmal Kumar Singh, mayors, chairpersons of urban local bodies and senior officials from all states and UTs have attended the mega event at the Vigyan Bhawan. 
 

	On the occasion, the Prime Minister released logos, and taglines for AMRUT and Smart Cities Mission; and guidelines for AMRUT, Smart Cities Mission and Housing for All (Urban). 
 

	The Prime Minister also visited an exhibition on best practices in urban development. 
	 
	(image credits: indiatimes)

Citizens will plan their city: Narendra Modi on Smart city
project

To transform Indian cities and towns, and make them engine for growth, Prime Minister <keyword id="6354477" type="PERSON" weightage="80" keywordseo="Narendra-Modi">Narendra Modi</keyword> will tomorrow launch three mega flagship projects, including the <keyword id="6377036" type="UNKNOWN" weightage="80" keywordseo="smart-cities">Smart Cities</keyword> proposal at the cost of whopping Rs 4 lakh crore. The PM will release operational guidelines for these projects - 100 Smart Cities, the <keyword id="2829341" type="UNKNOWN" weightage="80" keywordseo="Atal-Mission-for-Rejuvenation">Atal Mission for Rejuvenation</keyword> and <keyword id="2130852" type="UNKNOWN" weightage="80" keywordseo="Urban-transformation">Urban Transformation</keyword> (<keyword id="29369" type="COMPANY" weightage="80" keywordseo="Amrut">AMRUT</keyword>) for 500 cities and <keyword id="2751345" type="UNKNOWN" weightage="80" keywordseo="housing-for-all">Housing-For-All</keyword> by 2022 in urban areas, a PTI report said. 

	Modi will also unveil the logo of the housing mission. He was involved during the finalisation of its design.
 

	The guidelines for each of the three projects were made after almost year-long consultations with states, Union Territories and urban local bodies.
 

	While the Smart City and AMRUT projects will draw Rs 48,000 crore and and Rs 50,000 crore, respectively, in central grants over five years, Housing-for-All by 2022 will see the government spend about Rs 3 lakh crore in the next seven years as it aims to build 2 crore affordable houses in urban areas for slum dwellers and people from economically-weaker sections (EWS) and low income groups.
 

	Under the housing scheme, interest subsidy of 6.5% on housing loans with tenure up to 15 years will be provided to EWS and low income groups, giving them a benefit of around Rs 2.3 lakh each.
 <keyword id="168340" type="POSITION" weightage="80" keywordseo="Urban-Development-Minister">Urban Development Minister</keyword> M <keyword id="74369" type="PERSON" weightage="80" keywordseo="Venkaiah-Naidu">Venkaiah Naidu</keyword> said the three projects will herald a new urban era. "The journey for team India begins tomorrow," he said. 

	States and local bodies will play a vital role in the execution of these projects, the minister said, adding that there will also be a lot of scope for private participation.
 

	The Smart City project seeks to improve quality of life in 100 selected cities with 24 hour water and power supply, world class transportation system, better education and recreational facilities, e-governance and environment-friendly atmosphere, among others. 
 The Smart City project will be based on <keyword id="457507" type="POSITION" weightage="60" keywordseo="PPP-model">PPP model</keyword>, Naidu said. 

	AMRUT seeks to ensure basic infrastructure for 500 cities with a population of above one lakh. Ensuring water supply to each household, sewer connections, sanitation and solid waste management, provision for roads and public transportation beside implementation of reforms in urban governance would be the focus under the scheme. 
 While urban population will increase by over 400 million to touch 814 million by 2050, India faces a mass <keyword id="142764" type="UNKNOWN" weightage="80" keywordseo="Urbanisation">urbanisation</keyword> challenge even as many of its biggest cities are already bursting at the seams. 

	With the help of these schemes, the government is hoping to bring about a transformation of urban India with the critical goal of making the country an economic hub. 
 

	The launch will be followed by a two-day workshop in which over 1,000 mayors, municipal heads, state ministers and chief secretaries will take part. 
	 
	(Image: Reuters)

PM Modi to launch three projects to develop urban India

<ul class="summary-list"><li>It's time to sell the the 10-year US bond after an "excessive" bond rally, Barclays said.</li><li>Fueled by rate cut bets, investors have been snapping up the 10-year Treasury in the past few weeks.</li></ul>It's time to sell the benchmark US government bond.That's according to strategists at Barclays, who say the recent rally in the bond market has probably gone too far.Staying bullish on rate cuts, investors have been snapping up US bonds in the past few weeks. Yields on the 10-year note have dropped 30 basis points, down from this year's high of 4.35%. The 10-year yield is currently at 4.096%."The rally over the last few weeks seems excessive and we recommend shorting 10y US Treasuries," analysts led by Anshul Pradhan and Amrut Nashikkar wrote in a note on Friday.In fact, the analysts said it's "odd" that investors have been bullish on bonds given the slew of strong economic data supporting rates remaining higher for longer. From GDP to inflation to jobs, multiple readings have surpassed estimates, hinting that the US economy is still too bubbly for the Fed's liking."While the Fed still seems to be sticking to its baseline of cuts starting this year, the case for a meaningful easing cycle has weakened in our view raising the risk of the Fed forecasting a shallower easing cycle."And Barclays is indeed betting on a resilient US economy. Analysts say they think the soft data points are misleading, and that risks are skewed toward the economy surprising to the upside.That, along with an increase in supply of US Treasurys and a Fed that's trying to shed its portfolio of long-term government bonds, means yields on the 10-year note are likely to rise from here, analysts said.Investors have been seesawing between ramping up and dialing back wagers on rate cuts this year. Last week jobs report for February contained a mixed bag of data for investors trying to map the path of Fed policy. The number of jobs added to the economy beat expectations, a sign that things are still hot, but unemployment rose after revisions to the prior months' data and wage growth tapered.

It's time to sell US Treasurys after an 'excessive' bond-market rally, Barclays says

By Debashish Biswas India’s urban population is expected to grow from 377 million in 2011 (31% of total population) to around 600 million or 42% of the total population in 2030. It is estimated that in 2030, for five states – <keyword id="20154" type="General" weightage="20" keywordseo="tamil-nadu" source="Orion">Tamil Nadu</keyword>, Gujarat, Maharashtra, Karnataka and Punjab, urbanisation levels will be more than 50% (Sources: Census of India 2011, McKinsey Global Institute and <keyword id="13071722" type="General" weightage="20" keywordseo="UN-World-Urbanisation-Prospects-2018" source="Orion">UN World Urbanisation Prospects 2018</keyword>). Indian cities will act as the engines of growth for the economy. As highlighted in the National Infrastructure Pipeline, an estimated ₹19,19,267 crores capital expenditure is estimated between FY20-FY25 in <keyword id="557969" type="General" weightage="20" keywordseo="urban-infrastructure" source="Orion">urban infrastructure</keyword> (Source: National Infrastructure Pipeline, Volume 1). Around 21% of this capital expenditure is proposed to be funded through private sector participation. Given this, as part of Budget 2022-23, it is expected that urban sector development will continue to remain as one of the major focus areas. Budgetary allocations are expected to be made for: <ul><li>Strengthening core urban infrastructure – Continued investments to reinforce core urban infrastructure like water supply, solid waste management, urban mobility, among others. Recently, in October 2021, Ministry of Housing and Urban Affairs announced AMRUT 2.0 which focuses on enhancing water connections in around 4800 urban local bodies, sewerage/ septage services in 500 cities as well as rejuvenation of water bodies, green spaces and parks (Source: AMRUT 2.0 guidelines). Further, <keyword id="6735318" type="General" weightage="20" keywordseo="swachh-bharat-mission-urban" source="Orion">Swachh Bharat Mission-Urban</keyword> 2.0 was also announced in October 2021 with the aspiration of making all cities garbage free.</li><li>Housing to remain a key focus area – Housing, specially providing affordable housing for all, remains a key priority for the country. It is also important to provide necessary incentives and improve various regulatory processes to attract private investments in the housing sector, especially in affordable housing.</li><li>Developing smart digital infrastructure in terms of mobility management, digital service delivery, city management, safety and security, environmental management, etc. <keyword id="857936" type="General" weightage="20" keywordseo="emphasis" source="Orion">Emphasis</keyword> may be provided on creating specific digital urban solutions leveraging the data being captured at the city level, specifically in the smart cities where the command control centers are already operational. Also, focus may be provided in creating cloud based shared digital infrastructure at state as well as district level so that even the smaller urban local bodies may get access and leverage digital infrastructure. </li><li>Environment and sustainability focus: Given the focus of building environmentally friendly and resilient cities, the budget may provide specific emphasis on developing sustainable urban areas including increasing green cover, urban forest, water conservation, water recycling, waste reuse, renewable energy usage, energy conservation, etc. On the mobility front, focus may be provided on further developing non-motorized transportation and electric vehicle infrastructure. For facilitating developing environmentally friendly infrastructure, necessary policies and incentives may be considered. Funding available under CSR activities may be leveraged for implementing various environmentally friendly infrastructure at city level.</li><li>Continue municipal reforms: To enable urban infrastructure growth, the ongoing municipal reforms should continue. These include -- a) strengthening municipal bond market – key steps to be undertaken by the urban local bodies are improving financial discipline; accounting reforms; improved governance and augment own source revenues; b) asset monetization and attracting private sector – creating an environment for attracting more private investments; and c) enabling user charges for funding urban infrastructure. Additional incentives may be provided to urban local bodies which undertake such overall reforms proactively. </li></ul>Overall, like last year, the current pandemic calls for a public investment led push for enabling economic growth. The FY 22-23 budget needs to focus on increased spending in overall urban infrastructure &amp; capital assets, which are likely to have a multiplier effect on demand generation and gross domestic product (GDP) growth. Further, higher urban infrastructure spend will improve investment attractiveness, create more employment opportunities and enhance quality of life. Debashish Biswas is Partner with Deloitte Touche Tohmatsu India LLP SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/economic-budget-survey-2022-government-projects-8-to-8-5-growth-rate-in-year-2022-23/slidelist/89242472.cms">India’s Economic Survey projects 8-8.5 percent growth next year, here are other key points to note</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/despite-a-worldwide-chip-shortage-semiconductor-sales-cross-500-billion-for-the-first-time/articleshow/89242629.cms">Despite a worldwide chip shortage, semiconductor sales cross $500 billion for the first time</a>

OPINION: There should be continued focus on building urban infrastructure and sustainable smart cities

New Delhi, Jan 27 () Markets regulator Sebi has slapped a total fine of Rs 1.89 crore on 21 entities for executing fraudulent trading in the scrip of Sarang Chemicals Ltd.
 Penalties levied by the regulator on the entities are in the range of Rs 2 lakh-Rs 20 lakh, for flouting market norms.
 The matter pertains to an investigation conducted by Sebi in the scrip of Sarang Chemicals between January 2011 and June 2011.
 During the probe, it was observed that a large volume of the company's shares were traded among a group of 19 connected entities and later a large volume of shares were sold by the group.
 Apart from certain individuals, the group consisted of Om Education (IT) Pvt Ltd, Amrut Securities Ltd, Aum Technocast Pvt Ltd and Ayodhyapati Investment Pvt Ltd.
 The group, thus, created artificial volume by trading among themselves and this volume constituted 87 per cent of the market volume. Subsequently, the group sold 97.8 per cent of the market volume at increased price.
 Sebi in its order dated January 24 said it was observed that the company's shares were traded in less volume when the group did not trade in the market. However, when the group started trading among themselves, the volume of the scrip of the company raised substantially, it added.
 The markets regulator said in the order that by fraudulently trading, the group created artificial volume and misleading appearance of trading in the scrip, thus violated Prohibition of Fraudulent and Unfair Trade Practices norms.
 "The acts of artificially increasing the price of scrip have misled and induce gullible and genuine investors to trade in the scrip and harm them and, thus, the fundamental tenets of market integrity get violated with impunity due to such fraudulent acts," Sebi said.
 The group of entities had executed their trades through stock broker Atlanta Share Shopee Ltd and sub-broker Presilco Impex Ltd.
 For the brokers, Sebi said they had "facilitated the alleged trades to the group, wherein group indulged in repeated trading amongst themselves, which ultimately resulted into alleged creation of misleading appearance in the securities market and into creation of artificial volume/price rise in the shares of the company".
 Consequently, for violating stock brokers regulations, Sebi has levied the monetary penalty on brokers. SRS HRS

Sebi slaps Rs 1.89 cr fine on 21 entities for fraudulent trading in Sarang Chemicals' shares

On his 5-day visit to the United States, Urban Development Minister M <keyword id="74369" type="PERSON" weightage="20" keywordseo="Venkaiah-Naidu">Venkaiah Naidu</keyword> said that India's economy is back on track and the country's growth rate is likely to cross eight per cent in the coming years. 
 
While inviting foreign investors to India, Naidu told them to take advantage of the existing business-friendly atmosphere of the country. 
 "Public life in India is undergoing a rapid transformation. The economy is back on track, inflation is under control, and growth rate is likely to cross eight per cent in the coming years," Naidu, 66, said in his interaction with the American industry leaders at a round table organised by the <keyword id="236377" type="ORGANIZATION" weightage="20" keywordseo="US-India-Business-Council">US India Business Council</keyword> (USIBC). 
 While talking about the initiatives <keyword id="6360789" type="ORGANIZATION" weightage="20" keywordseo="Modi-Government">Modi government</keyword> has undertaken, Naidu had also mentioned social security schemes and affordable housing programs that could be launched anytime soon. 
 Naidu also invited corporations to invest in Smart Cities, Atal Mission for Rejuvenation and <keyword id="2130852" type="UNKNOWN" weightage="20" keywordseo="Urban-transformation">Urban Transformation</keyword> (AMRUT) projects, a USIBC statement said. 
 
As per an Economic Times report, Naidu also explained the smart cities to them and said that the smart cities will incorporate the use of solar energy, rain water harvesting, good sanitation, drinking water and smart public transportation. Guidelines on selection of the cities, financing mechanisms and incentives for private sector participation were also explained. 
 Expressing optimism in Naidu's vision, USIBC President <keyword id="1085906" type="PERSON" weightage="20" keywordseo="Mukesh-Aghi">Mukesh Aghi</keyword> said, "Flagship programs such as Smart Cities, AMRUT and Housing for All reflect the Indian government's dedication to innovation and technology while not overlooking the urgent need to provide all citizens with access to basic necessities such as sanitation, water, power and means to earning a livelihood". 
Image: indiatimes

The economy is back on track, says Venkaiah Naidu

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">REUTERS/Chris KeaneDonald Trump gives a thumbs up to the crowd after speaking at a campaign rally in Raleigh, North Carolina November 7, 2016.</div></div></div>The US Treasury complex is soaring as the polls point to an extremely close race. Republican nominee Donald Trump has built a sizable lead in Florida, and has moved ahead in North Carolina and Ohio.Recent buying has pushed yields down as much as 9 bps in the belly of the curve.Here's a look at the scoreboard as of 9:05 p.m. ET:<ul><li>2-year -5.6 bps at 79.8 bps</li><li>3-year -6.0 bps at 95.9 bps </li><li>5-year -7.7 bps at 1.249%</li><li>7-year --8.5 bps at 1.554%</li><li>10-year -7.5 bps at 1.780%</li><li>30-year -5.9 bps at 2.559%</li></ul>In a note to clients sent out on Tuesday, Barclays' Interest Rate Research team of Rajiv Setia, Anshul Pradhan, and Amrut Nashikkar wrote, the knee-jerk reaction to a Trump win would likely be "a risk-off move, a flight-to-quality bid in front to intermediate Treasuries, and a steeper 5s30s Treasury curve." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/boost-your-iphones-reception-wifi-calling-2016-11">This hidden iPhone feature will boost your reception</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="FndmsxNDE6vk3uQVYRGSGZh3e00tqu6q" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Treasurys soar as Trump moves ahead in key states

Prime Minister <a href="http://www.businessinsider.in/searchresult.cms?query=Narendra+Modi+">Narendra Modi </a>will announce the first batch of 20 smart cities early January. 
 
"Evaluation of <a href="http://www.businessinsider.in/searchresult.cms?query=smart+city">smart city </a>plans of 97 cities in the second stage of 'City Challenge' competition is already in progress and the results will be announced shortly marking a high point in promoting competition among cities for resource allocation, the first of its kind," a Ministry of <a href="http://www.businessinsider.in/searchresult.cms?query=Urban+Development">Urban Development</a> press release read. 
 
The Modi government has apparently reset the parameters for <a href="http://www.businessinsider.in/searchresult.cms?query=urban+planning">urban planning</a>. It has approved an investment of about Rs 42,000 Crores in 2015 for developing basic urban infrastructure and for affordable housing . 
 
The investment includes Rs 19,170 Crores for improving infrastructure relating to water supply, sewerage networks, storm water drains, urban transport and open spaces in 474 cities in 18 states under Atal Mission for Rejuvenation and Urban Transformation (AMRUT). 
 
Image credit: Indiatimes

PM Modi to announce 20 smart cities in January

<keyword id="2317314" type="UNKNOWN" weightage="80" keywordseo="Prime-Minister-Narendra-Modi-government">Prime Minister Narendra Modi government</keyword>’s programmes like Smarty City, Atal Mission for Urban Renewal and Transformation (AMRUT) and Housing for All are going to launch next month. 
 Union Urban Development Minister M <keyword id="74369" type="PERSON" weightage="80" keywordseo="Venkaiah-Naidu">Venkaiah Naidu</keyword> said that all formalities were completed for all three programmes like consultations with stakeholders, state governments and urban local bodies. 
 
He told a news agency that the ministry would like to launch the programmes on a convenient day in June. 
 
Modi had vowed to build 100 smart cities by 2022 to meet the increasing urban population, which is expected to rise by more than 400 million people to 814 million by 2050. 
 
The Finance Ministry had allocated Rs 7,060 crore for developing these smart cities. 
 
The cities would get central assistance of Rs 100 crore per year for five years and the aspirants would be selected through a 'City Challenge Competition'. 
 
The world is keen on setting up smart cities, where technology can help citizens access, in real time, infrastructure services like traffic, parking, lighting, and water. 
 
(Image: Thinkstock)

You Searched For "Amrut" and got 11 results

This Indian software company just partnered with the world’s biggest open source community

BI India Bureau

Indian Govt’s ambitious urban development plan gets Rs 25,000 crore push

BI India Bureau

Citizens will plan their city: Narendra Modi on Smart city project

BI India Bureau

PM Modi to launch three projects to develop urban India

BI India Bureau

It's time to sell US Treasurys after an 'excessive' bond-market rally, Barclays says

Aruni Soni

OPINION: There should be continued focus on building urban infrastructure and sustainable smart cities

BI India Bureau

Sebi slaps Rs 1.89 cr fine on 21 entities for fraudulent trading in Sarang Chemicals' shares

PTI

The economy is back on track, says Venkaiah Naidu

BI India Bureau

Treasurys soar as Trump moves ahead in key states

Jonathan Garber

PM Modi to announce 20 smart cities in January

BI India Bureau

‘Smart Cities’ project will turn into a reality next month

BI India Bureau

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