Urban renewal mission's allocation to rise

New Delhi, July 3 (IANS) The Jawaharlal Nehru Urban Renewal Mission's allocation will be hiked to 0.25 percent of the gross domestic product, Urban Development Minister Kamal Nath said at a summit in Singapore.

"The next phase of Jawaharlal Nehru Urban Renewal Mission is likely to have an enhanced allocation to the tune of 0.25 percent of GDP amounting to $38 billion. Innovative models of financing including PPP (public private partnership) land monetisation and stress on urban governance and other reform measures would be integral to the next phase," he said.

Kaml Nath was speaking at the joint plenary session of the Singapore International Water Week-World Cities Summit-Clean Enviro Summit Monday.

He said there was a need for more efficient use of land resources and urban planning needed to focus on sub-urbanisation.

"It is important that suburbs of major urban centres are well-planned and linked with efficient and fast transportation networks to ensure dispersal of population and economic activities," he said.