GIFT City project gets Centre's nod.

The Centre has given a formal approval to sponsor the ambitious Rs. 78,000-crore Gujarat International Finance Tech-City (GIFT) project which is being developed as the country’s first smart city near Gandhinagar.

This approval will now make the GIFT project eligible for funding from central government and will also help in faster clearances, said a senior official associated with the project.

'Earlier, we didn't have a forum. We used to face a lot of difficulties in getting the necessary funds and clearances from the Centre. But now the Centre has approved to sponsor the project. This means that the government will be considering GIFT as a smart city, and the project will qualify for funding under different government schemes,' said R K Jha, director of Gujarat International Finance Tec-City Company Ltd., which is a joint venture between state-run Gujarat Urban Development Company Ltd. (GUDCL) and a private firm Infrastructure Leasing & Financial Services Ltd. (IL&FS).


THE INDIAN EXPRESS