Page 59 - Shelter - April 2023

POLICY REVIEW
CITIES AND UNION BUDGET 2023-24
SOUMYADIP
CHATTOPADHYAY
ARJUN KUMAR
“The first budget of Amrit Kaal
(2022-2047) has recognized
the growth potentials of
Indian cities and is aimed to
build ‘sustainable cities for
tomorrow’, with a roadmap
for infrastructure financing and
governance reforms.”
Key Words: Union Budget, Flagship
Programmes, Cities, CAPEX
Dr Soumyadip Chattopadhyay
(soumyadip.impri@gmail.com)is
Associate Professor, Visva-Bharati,
Santiniketan and Visiting Senior Fellow,
IMPRI Impact and Policy Research
Institute, New Delhi & Dr Arjun Kumar,
(arjun@impriindia.org) is Director,
IMPRI.
This commentary article analyses infrastructure assumes special
the provisions towards Urban significance. The “first budget
of Amrit Kaal (2022-2047)”
India flagship schemes in the
current budget, and discusses has recognized the growth
the key takeaways and policy potentials of Indian cities and
implications. is aimed to build ‘sustainable
cities for tomorrow’, with a
INDIAN CITIES roadmap for infrastructure
AS ENGINES OF financing and governance
ECONOMIC GROWTH reforms.
IN AMRIT KAAL
URBAN INDIA
Indian cities with their FLAGSHIP SCHEMES
contribution of around two-
thirds of the GDP are expected The total Budget Estimate
to play an instrumental role (BE) available for urban
as the country’s engines of development (Ministry of
economic growth. A majority Housing and Urban Affairs
of these cities are hamstrung (MoHUA)) has experienced
by serious infrastructural a slight drop from INR 76,549
issues and governance deficits. crores in Financial Year (FY)
2022-23 to INR 76,431 crores in
As per the recent World Bank
Study, our cities need an FY 2023–24 of about INR 117
investment of $840 billion crores. The Revised Estimate
over the next fifteen years. (RE) for FY 2022-23 stood at
Investment requirement for INR 74,545 crores. Although
basic urban services (e.g. the REs and BEs were quite
water supply, sewerage, waste close to each other, the actuals
management, roads, street for the financial year 2021-22
lights, stormwater drainage) were stooping INR 1,06,840
is estimated at about $450 crores, owing to the PM
billion and another $300 Awas Yojana – Housing for
million is for building mass All by 2022. This decline is
transits. So, strengthening attributed mostly to the thrust
the city governments and budget outlay given
in previous years towards
and having a budgetary Housing for All by 2022.
provision for financing urban
April, 2023, Volume 24. No.1 - SHELTER 57