International Journal For Multidisciplinary Research

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Assessing the Influence of Budgetary Allocations and Monetary Policy on Smart City Initiatives and Socio-Economic Development in Madhya Pradesh

Author(s) Ms. Devagya Shrivastava, Dr. Sanjay Payasi
Country India
Abstract This study evaluates how budgetary provisions under the Union Budget 2024–25 and monetary policy directives issued by the Reserve Bank of India have influenced the implementation and outcomes of Smart City initiatives in selected cities of Madhya Pradesh. As urban India navigates infrastructural challenges and economic transitions, Smart City Mission (SCM) offers a platform for technology-enabled governance, public service delivery, and inclusive development.
The research focuses on four Madhya Pradesh cities: Bhopal, Indore, Gwalior, and Jabalpur—key smart city centers identified under the SCM. The study explores linkages between government spending, monetary liquidity, and citizen-centric urban transformation. Data collection combined primary surveys from urban residents and local government bodies with secondary data from Ministry of Housing & Urban Affairs (MoHUA), city SPVs, RBI reports, and municipal economic reviews.
Statistical tools including ANOVA, regression analysis, and factor analysis were employed using SPSS to assess the association between policy interventions and socio-economic parameters such as employment generation, digital access, sanitation, transportation, and public health infrastructure.
Findings indicate that increased fiscal allocation and targeted subsidies under the Smart City program have resulted in substantial progress in infrastructure, sanitation, and smart mobility. Moreover, monetary easing measures—such as priority sector lending to urban infrastructure projects and municipal bond market support—have improved liquidity access for Smart City SPVs. Citizens reported higher satisfaction with digital grievance redressal, smart street lighting, and water management systems.
However, gaps persist in affordability, last-mile connectivity, and equitable benefit distribution. The study concludes with policy suggestions including decentralized budgeting, integrated urban governance models, and long-term urban financial frameworks.
Published In Volume 7, Issue 3, May-June 2025
Published On 2025-06-05
DOI https://doi.org/10.36948/ijfmr.2025.v07i03.46573
Short DOI https://doi.org/g9pzsn
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