New Delhi Municipal Council (NDMC) has presented its budget for 2017-18 with ‘Smart City project yet again topping the agenda with included LED streetlights, e-governance, automated parking facility and free Wi-Fi.
During the 2017- 18 Budget NDMC Chairman Naresh Kumar projected total receipts of Rs 3,627.08 crore against a total estimated expenditure of Rs 3,621.62
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Note that ‘Smart City’ has been the focus of NDMC budget for the third consecutive year with the 2015-16 and 2016-17 budget also. NDMC has established a wholly owned Public Limited Company namely, New Delhi Municipal Council Smart City Limited (SPV). The SPV has received a grant of Rs 194 crore from Urban Development Ministry, and Rs 56 crore from NDMC, thereby bringing the seed capital to Rs 250 crore. I further propose to transfer Rs 44 crore to the SPV in the current financial year and Rs 50 crore in the year 2017-18,” Kumar said in his budget speech.