Within a year of the Smart City Mission launch in June 2015, 33 cities have been selected through the Smart City Challenge, in which 97 cities competed on clearly defined rules and transparent selection criteria. Each of the winning ‘Lighthouse’ cities establishes a Special Purpose Vehicle (SPV) registered under the Companies Act 2013 to “plan, appraise, approve, release funds, implement, manage, operate, monitor and evaluate the Smart City development projects [and] enter into contracts, partnerships and service delivery arrangements as may be required.”
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