The Smart Cities Mission (SCM) Statement & Guidelines released by the Government of India (GoI) envisage the implementation of the Mission at the city level by a Special Purpose Vehicle (SPV) created for the purpose. One of the primary reasons for the creation of an SPV for the Smart Cities Mission is to ensure operational independence and autonomy in decision-making and mission implementation. The SPV will plan, appraise, approve, release funds, implement, manage, operate, monitor, and evaluate the Smart City development projects.
In the approach of the Smart Cities Mission by GOI, the objective is to promote cities that provide core infrastructure and give a decent quality of life to its citizens, a clean and sustainable environment, and application of ‘Smart’ Solutions. The focus is on sustainable and inclusive development and the idea is to look at compact areas, create a replicable model that will be a light house to other aspiring cities. The Smart Cities Mission of the Government is a bold, new initiative. It is meant to set examples that can be replicated both within and outside the Smart City, catalyzing the creation of similar Smart Cities in various regions and parts of the country.
Smart City Proposal for Bengaluru approved by MoUD in Round 3 (28 June 2017) of the Smart Cities Challenge under the Smart Cities Mission, GoI, and was incorporated Public Limited Company as per the MoCA, GoI on 03 January 2018. The SPVs business is mandated as per its Memorandum of Association and its internal management structure is defined in the Articles of Association which is vetted and approved by the Shareholders of the Company. The Company is expected to comply with all the applicable provisions of the Companies Act, 2013, and the shareholders, the directors, and the employees are expected to follow the provisions of the Act and its Rules so far as they apply to the Company. The Company is headed by a full-time Managing Director/Chief Executive Officer and has nominees of Central Government, State Government, and Bengaluru City Corporation on its Board. The key functions and responsibilities of the Company as per its Articles of Association (AoA) are under:
- ☸ Get approval and sanction of projects including their technical appraisal.
- ☸ Execute the Smart City Proposal under the guidance of the State Government.
- ☸Take measures to comply with the requirements of and directions of the MoUD/other Ministries/Departments of the Government of India/State Government, Rules and regulations, local laws, etc. for implementation of the Smart Cities Mission.
- ☸ Mobilize resources within timelines and take measures necessary for the mobilization of resources for the implementation of the Smart City project.
- ☸ Approve and act upon the reports of a third-party Review and Monitoring Agency.
- ☸ Oversee Capacity Building activities.
- ☸ Develop and benefit from the inter-linkages of academic institutions and organizations.
- ☸ Ensure timely completion of projects according to set timelines.
- ☸ Undertake a review of activities of the Mission including a budget, implementation of projects, preparation of Smart City Proposal (SCP), and co-ordination/ convergence with other missions/schemes and activities of various Ministries/Departments.
- ☸ Monitor and review quality control related matters and act upon issues arising thereof.
- ☸ Incorporation of joint ventures and enter into Public-Private Partnerships including with foreign entities as may be required for the implementation of the Smart Cities Mission with the prior approval of the State Government / MoUD.
- ☸ Enter into contracts, partnerships, and service delivery arrangements with Indian as well as foreign firms, as may be required for the implementation of the Smart Cities Mission under the overall guidance of the State Government /MoUD.
- ☸ Determine and collect user charges as authorized by the ULB.
- ☸ Collect taxes, surcharges, etc. as authorized by the ULB.
- ☸ Any other functions as delegated by the Central Government/ State Government/ULB within the scope of Smart Cities Mission.