BHUBANESWAR: The proposed City Economic Regions (CERs) announced in the Union Budget will give a boost to the ambitious Bhubaneswar-Cuttack-Puri-Paradip Economic Region (BCPPER) project.
As a new initiative, CERs will ensure city-led economic growth and benefit regional urban clusters. It has been proposed to allocate Rs 5,000 crore per CER over the next five years for the development of these regions.
“The CERs are envisioned as integrated urban growth zones with the objective of leveraging the economic potential of cities and their surrounding areas by improving connectivity in infrastructure, services and capital investment. This initiative will also help in making the proposed Bhubaneswar-Cuttack-Paradip-Puri urban corridor operational and effective,” Chief Minister Mohan Charan Majhi said.
Officials said the CERs that will integrate multiple urban centres spanning tier-2 and tier-3 cities, temple towns and their surrounding areas into unified ecosystems, will give a strong push to the BCPPER project planned by the state government as a major integrated economic corridor with comprehensive infrastructure roadmap that includes construction of three ring roads spanning 645 km.
The three ring roads will divert heavy traffic from urban centres, boost connectivity, facilitate trade and nurture inclusive growth by linking rural and semi-urban areas with the national value chains.
Officials said allocation of Rs 10,000 crore towards ‘Urban Challenge Fund’ will also help the state government in seeking support for its proposed ‘New City’ project in Bhubaneswar. Street vendors will also get more support as the budget under PM SVANidhi scheme has witnessed a major hike this year, they said.
CREDAI national vice-president and Odisha president Swadesh Kumar Routray said sustained investments in highways, logistics corridors and urban infrastructure will unlock new growth corridors.
He, however, expressed deep disappointment over the absence of any concrete measures for affordable housing in the budget. “With the current outdated definition of affordable housing, CREDAI estimates that the segment’s share may further decline from around 18 per cent to nearly 12 per cent of total housing supply. This is a serious concern for the lower middle-class and middle-income families,” Routray said.
CREDAI warned that a continued weakening of affordable housing supply could lead to higher rental costs and unchecked growth of informal housing in urban areas.