Belagavi – ICR is less than 22%
While Nagpur and Indore have bagged the first and second place in the country, in the implementation of the Smart Cities project, Belagavi is lagging behind by a huge margin.
The urban development ministry analysed the investment conversion ratio (ICR) of each city. ICR indicates the extent of conversion of approved Smart City plans into investments through ground-level implementation. ICR also shows the percentage of funds currently being used at the ground level for implementing the projects as against the funds approved by the Centre.
Belagavi, ICR is less than 22%, which means the amount spent on the execution of the projects or approved projects is less than Rs 1,000 crore till now, according to an analysis of the implementation of the projects done by the ministry.
Under the smart city programme, each city will be given Rs 500 crore by the Centre over five years. The states will have to make a matching contribution.
The ministry, however, claimed that all the 20 cities selected in the first batch had firmed up their investment plans, achieving an overall Investment Conversion Rate (ICR) of 49%. The ICR indicates the extent of conversion of approved smart city plans into investment through ground-level implementation.
According to the Smart cities network site Total projects work has commenced is 3, Feasibility in progress of 2 and one project is yet to be initiated.
Total 5 crores have been allocated for Solid Waste Management.