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It comes as no surprise, then, that Modi has sought to link expanding employment opportunities and economic growth with investment in cities in the SCI.

Critically, these opportunities can be delivered more efficiently and sustainably in concentrated urban environments than in rural or peri-urban settings.

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Complicating this narrative, the current trajectories of urban development in India are not only economically inefficient, but also environmentally unsustainable.

Assessing the sectorial impacts of various scenarios for rising temperatures, a 2013 report (PDF) from the Potsdam Institute for Climate Impact Research and Climate Analytics identifies a host of potential human-induced climatic effects in India’s urban, peri-urban and rural environments.

India’s need for urban development and expansion is both salient and urgent.

The country’s urban population, expected to increase from 377 million today to 590 million by 2030, has placed an enormous burden on public administration to finance and oversee large-scale construction, and to facilitate private sector involvement in the creation of urban environments.

The SCI is projected to oversee the construction of 700 million to 900 million square meters of commercial and residential space annually through 2030 — equivalent to a new Chicago every year.

Connecting these spaces will require 2.5 billion square meters of new roads and 7,400 kilometers of new metros and subways, representing 20 times the infrastructural capacity added in India since 1999.Building off nearly 10 months of extensive public and private sector consultation, Indian Prime Minister Narendra Modi began in April to green-light initial projects under the country’s Smart Cities Initiative (SCI).The SCI benchmarks (PDF), formulated in response to rapid urban population growth, aim to modernize environmentally sustainable transport, housing, utility and connectivity services for 100 new or refurbished cities across the subcontinent.These concerns mean that domestic lending rates in India, particularly for renewable energy projects, are significantly higher than those provided by foreign and multilateral development banks.For example, standard SBI domestic business debt interest rates, around 11 percent, are dramatically higher than those of the Asian Development Bank or the International Finance Corporation, which provide funding rates as low as 4 percent.The SCI, to be implemented under India’s Ministry of Urban Development, is expected to cost

Connecting these spaces will require 2.5 billion square meters of new roads and 7,400 kilometers of new metros and subways, representing 20 times the infrastructural capacity added in India since 1999.Building off nearly 10 months of extensive public and private sector consultation, Indian Prime Minister Narendra Modi began in April to green-light initial projects under the country’s Smart Cities Initiative (SCI).The SCI benchmarks (PDF), formulated in response to rapid urban population growth, aim to modernize environmentally sustainable transport, housing, utility and connectivity services for 100 new or refurbished cities across the subcontinent.These concerns mean that domestic lending rates in India, particularly for renewable energy projects, are significantly higher than those provided by foreign and multilateral development banks.For example, standard SBI domestic business debt interest rates, around 11 percent, are dramatically higher than those of the Asian Development Bank or the International Finance Corporation, which provide funding rates as low as 4 percent.The SCI, to be implemented under India’s Ministry of Urban Development, is expected to cost $1.2 trillion in capital expenditure alone through 2030.

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Connecting these spaces will require 2.5 billion square meters of new roads and 7,400 kilometers of new metros and subways, representing 20 times the infrastructural capacity added in India since 1999.

Building off nearly 10 months of extensive public and private sector consultation, Indian Prime Minister Narendra Modi began in April to green-light initial projects under the country’s Smart Cities Initiative (SCI).

The SCI benchmarks (PDF), formulated in response to rapid urban population growth, aim to modernize environmentally sustainable transport, housing, utility and connectivity services for 100 new or refurbished cities across the subcontinent.

These concerns mean that domestic lending rates in India, particularly for renewable energy projects, are significantly higher than those provided by foreign and multilateral development banks.

For example, standard SBI domestic business debt interest rates, around 11 percent, are dramatically higher than those of the Asian Development Bank or the International Finance Corporation, which provide funding rates as low as 4 percent.

The SCI, to be implemented under India’s Ministry of Urban Development, is expected to cost $1.2 trillion in capital expenditure alone through 2030.

||

Connecting these spaces will require 2.5 billion square meters of new roads and 7,400 kilometers of new metros and subways, representing 20 times the infrastructural capacity added in India since 1999.

Building off nearly 10 months of extensive public and private sector consultation, Indian Prime Minister Narendra Modi began in April to green-light initial projects under the country’s Smart Cities Initiative (SCI).

The SCI benchmarks (PDF), formulated in response to rapid urban population growth, aim to modernize environmentally sustainable transport, housing, utility and connectivity services for 100 new or refurbished cities across the subcontinent.

These concerns mean that domestic lending rates in India, particularly for renewable energy projects, are significantly higher than those provided by foreign and multilateral development banks.

.2 trillion in capital expenditure alone through 2030.

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