40 billion hope trick

8220;We cannot afford to lag behind, when other cities in the country are fast moving ahead,8217;8217;says Sanjay Ubale, Chief Minister S...

8220;We cannot afford to lag behind, when other cities in the country are fast moving ahead,8217;8217;says Sanjay Ubale, Chief Minister Sushil Shinde8217;s pointsman for the Vision Mumbai plan.

Call it a pre-election gimmick or a plan pushed by industry but there is seriousness in Mantralaya, seat of the Maharasthra government, over the project that could transform Mumbai.

A task force headed by Chief Secretary Ajit Nimbalkar has already begun meetings. Its first job is a massive PR exercise, to convince politicians and Mumbaiites that their city is in urgent need of a makeover.

Implementing a plan of such a magnitude is not possible without popular support. The drive will include seminars, public meetings and sessions with key functionaries in the Shiv Sena-controlled Brihanmumbai Municipal Corporation.

The Mckinsey report is seen as only a loose framework. A formal project report will need to be chalked out for Vision Mumbai.

The roadmap is due in six months. It will spell out time-bound schemes in, largely, four areas: infrastructure, housing, good governance and economic growth.

This may sound like typical government jargon. The task force needs to provide proof of the pudding. 8216;8216;We need to convince Mumbaiites the government is serious. We will push for a few visible projects first,8217;8217; Ubale says.

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If this happens as planned, Mumbai may soon witness Asia8217;s largest slum, Dharavi, being transformed into a structured township, projects to restore Marine Drive, refurbish the Town Hall and remodel Chhatrapati Shivaji Terminus formerly Victoria Terminus.

Once these everyday city monuments begin to shine, literally in some cases, Mumbaiites will perhaps be convinced the government8217;s good intentions are not just theoretical.

The Mckinsey report points to the role models: Shanghai, which became a world class city from an unpainted wreck; Cleveland, once America8217;s best known rust belt;, homegrown Hyderabad and even Thane, a dusty town neighbouring Mumbai that turned into a well planned city.

What about the money? The Mckinsey report estimates total an investment of Rs 200,000 crore or 40 billion over 10 years. Of this, Rs 50,000 crore would be public investment, primarily on transport and housing.

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City fathers are pointing to urban renewal role models from Shanghai to Cleveland to even Thane. To begin with, colonial Mumbai will be rescued from grime

The government needs to put in Rs 1,500 crore per year, or Rs 15,000 crore over the next ten years, to finance the Rs 50,000 crore component. The rest is expected to come from longterm loans that could be offset by user charges and increased tax collection.

And the remaining Rs 150,000 crore is expected to be private investment in housing, power, telecom and other growth sectors.

8216;8216;The finance is not beyond our reach, since it would be spread over 10 years. The city definitely has the potentional to fund the plan,8217;8217; is what Shinde said after releasing the report.

Besides, the government8217;s thrust would be on more and more private investment. For instance, a thrust area is housing, which will see massive private funding.

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As for physical infrastructure, 8216;8216;build, operate, transfer8217;8217; is the mantra to draw private capital. A French company has already evinced interest in the Rs 5,000 crore sea link to connect Sewree on Mumbai8217;s eastern coast to Nhava on the mainland.

Dream Mumbai, dream; reality will get where you can take it.