Private sector funding, not the budget- is the key to smart cities

India has drawn up grand plans and preparations are underway to launch 100 Smart Cities. There is a wide range of expectations from the Union Budget for Smart Cities funding. But, the key element of funding, is yet to be addressed. With the Government funding just about 20 percent ($30 bln.) of the overall funds required for Smart cities, it is imperative to get the private sector engaged early on to fund the remaining 80 percent ($120 bln.). However, this is easier said than done. The article below is based on the situation in India, but a lot of the statements are relevant for cities worldwide.

So, what will it take to get the Private Sector engaged and secure the Smart Cities Program?