Summary:
Though Coimbatore Smart City is an independent company, or a special purpose vehicle, formed to implement projects under the smart city mission, it lacks the infrastructure to function independently. So, they are already ahead.“Here, a clearly defined outcome of the smart city project is missing and projects seem to be extremely delayed,” he says. With the company depending on the state government to sanction funds for every project, it lacks the freedom to sanction big projects and approve proposals. However, the smart city team says they now file project reports systematically and get fund reimbursements immediately, ensuring they face no delays.Under the smart city guidelines, special purpose vehicles (SPVs) should function independent of the government to implement projects. But with the SPVs dependent on the state government for funds, the projects are facing hurdles..