More than three weeks have passed since Ranchi bagged the Smart City tag, but work in this direction is yet to the see the light of day owing to pending authorisation for formation of Ranchi Smart City Corporation.
Declaring Ranchi’s success in fast track round of Smart City Mission in May, officials had stated that the Corporation will be set up within 15 days, which will mark the beginning of implementation process of the
initiative.
The Corporation will be a Special Purpose Vehicle (SPV) to manage and implement Smart City Mission on a city-level. This agency will be registered under the Companies Act, 2013 and will be governed by a board of directors comprising of representatives from Central and State Governments along with urban local body.
“Proposal for incorporating the SPV has been tabled before the Cabinet for approval. Once formed, this agency will bear the entire responsibility of looking after the projects to be undertaken under Smart City Mission,” said a State Urban Development department
official.
As soon as the Corporation is formed, it will receive Rs 300 crore each from Union Government and an equivalent corpus of funds from State Government for utilising in projects under Smart City initiative.
“Powers will be delegated to the SPV for approving, implementing and monitoring projects under Smart City in Ranchi. Once it is done, Urban Development Department and Ranchi Municipal Corporation will no longer be in the picture, and all the responsibilities will be borne by the company,” said the official.