Introductions > Approved Personal Blogs

13 More 'Smart Cities' Chosen As Centre Pledges Rs 30,299 Crore Boost


The government has confirmed that 13 more cities will be developed under the Centre's 'Smart City Mission'. Lucknow in poll-bound Uttar Pradesh tops the list, followed by Warangal in Telangana, and Dharmashala in Himachal Pradesh. Twenty-three cities which failed to make the grade back in January participated in the 'Fast Track Competition', the results of which were announced by Urban Development Minister M Venkaiah Naidu on Tuesday. Of these 23 cities, only 13 qualified for the smart city projects through the fresh competition. The 13 cities selected in the Fast Track Competition have proposed a total investment of Rs 30,229 crore. With this, the investment proposed by 33 cities, including the 20 cities announced in January, under the smart city plans has touched the Rs 80,789 crore mark, Naidu said at a press conference.

Guaranteed water and power supply, sanitation and solid waste management systems, efficient urban mobility and public transportation, IT connectivity, e-governance and citizen participation are some of the highlights of the smart city project. Also, one out of Meerut and Rai Bareilly in Uttar Pradesh, and either Jammu or Srinagar in J I do really, either positive or negative. It will help me to make necessary fine tuning on our mission. If you have a story worth sharing to our youth, get in touch with us.

Spending three months each year in India for the past decade has given Mary and Brian Edwards a clear view of the way the world is changing. As well as regular visits to India, where they use an apartment in Goa to explore the rest of the country, they have travelled to China, Brazil and North Africa. The couple have seen with their own eyes the impact of growing wealth in emerging economies, and that has influenced the way they invest. Brian, 62, a retired bank manager, says: _Britain is a small island and while we have some great companies based here, you realise there is tremendous scope for firms to grow in other parts of the world. _It is not easy for an ordinary investor like me to hold shares directly overseas. Even if I could pick them, there are too many tax, logistical and stockbroking complications,_ he says.

Instead, the couple, from Fleet, Hampshire, invest through collective investment funds. These are run by managers who research and select investments for you. Their holdings include shares in investment trusts Monks and Scottish Mortgage - both global funds - and Pacific Horizon, which specialises in the Asia-Pacific region. All three are run by Edinburgh-based Baillie Gifford. _We like this international dimension to our savings,_ says Brian. The couple are not alone in thinking internationally. Growing numbers of savers are broadening their investment horizons as they search for both income and capital growth across the world. While most advisers have long recommended some exposure to overseas markets, the tempo has increased.

Ben Willis, head of research at investment adviser Whitechurch Securities in Bristol, says: _Ten years ago, perhaps 60 to 80 per cent of the average portfolio we recommend to clients would be invested in Britain. _Now that figure is more like 40 per cent. Darius McDermott, who runs London-based investment broker Chelsea Financial Services, says diversification of returns is one key reason investors should look overseas. _If you just invest in Britain your fortunes are linked to the London stock market and to a lesser extent the British economy. But we all know it is better not to have all your eggs in one basket,_ he says. _Some people think they might be adding to investment risk by looking overseas.

Another reason to look abroad is to access markets or businesses you cannot find in Britain. Financial Mail asked top fund managers to highlight some of their most distinct overseas holdings. Savers can choose investment funds aimed at specific regions such as Asia, Europe or Latin America. Alternatively, they can put their faith in funds where the managers can buy what they think are the best companies anywhere in the world. Holding these investments in an Isa protects you from further income tax and capital gains. McDermott agrees: _There is a genuine appetite from investors for funds that provide an income from international investments. Lots of savers already hold equity income funds investing in Britain, but these invest in a narrow range of companies. Clients see the attractions of getting their income from a wider range of sources. _Over the next ten years I believe we_ll see continued appreciation of Asian currencies against sterling. Engineer Keith Cobley, 57, is hoping his global investments will give his income a lift in retirement. Keith lives in Belper, Derbyshire, with his wife, Tereni Onufryk-Cobley, 53, and works for aero-engine maker Rolls-Royce. He has been investing hard for almost 20 years, gradually building up a holding of funds worth more than


[0] Message Index


Sitemap 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 
Go to full version