They will also develop residential and commercial spaces around railway stations. “This convergence-based city development will result in qualitative improvement in city life,” said Venkaiah Naidu, minister for urban development, during the signing of the MoU. The first proposes equal equity sharing between the railways and the special purpose vehicle formed to execute the smart city plans. “Cities are developed around railway stations. How can a city be a smart city without a smart station and how can a station not be developed around a smart city?” railways minster Suresh Prabhu said.

Source: Mint October 19, 2016 19:07 UTC