Over half of construction project owners experienced one or more under performing projects in the previous year, despite confidence in project planning and controls, according to KPMG International’s 2015 Global Construction Project Owner’s Survey: Climbing the Curve.

The Finance Minister has taken a very pragmatic approach and crafted a Budget in a manner which can provide a boost to both infrastructure and manufacturing which will create employment and also augment India´s competitiveness vis-a-vis its peers and at the same time adhered to the Prime Minister´s ´Make in India´ vision

Increase in effective rates of additional duty of excise/customs levied on petrol and high speed diesel oil from Rs 2 per litre to Rs 6 per litre.

Budget 2015 echoes the need to foster the infrastructure ecosystem and outlines the policies and reforms which are expected to revive the growth of infrastructure which has remained tepid.

This is the framework required to ensure the vision of the smart city translates from innovative engineering, architectural and technological ideas, into reality. Modern civilizations of the world have witnessed differential growth leading to an increase in the complexities of how cities or towns need to be managed, funded, regulated and designed.

New age concerns of resource optimization, climate change impacts, financial situation of urban bodies, etc., have given rise to new brands of cities such as green cities, eco cities, inclusive cities, resilient cities, sustainable cities and smart cities.

Could you share some of the initiatives that you are currently working on? Within my group we have initiatives like smart cities, physical surveillance, which is a part of Internet of Everything (IOE) but also a part of safe cities. We have IOE as a large initiative and would cover manufacturing, oil & gas and public utilities.

The word ´smart city´ has captured the imagination of the world and India is no exception. But realizing the ambitious goal of Prime Minister Modi to develop 100 smart cities across the country will prove to be a socioeconomic and financial challenge.

Piramal Fund Management plans to invest up to Rs 5,000 crore over the next one year to finance construction projects, a top company executive said. The fund has already invested in nine realty projects through construction finance proposals totaling Rs 1,100 crore in the last three months.