Government News Digest (06-11-25): Prime Minister's Daily Briefings

The Ministry of Housing and Urban Affairs (MoHUA) has called upon States and Union Territories (UTs) to integrate Special Purpose Vehicles (SPVs) and Integrated Command and Control Centres (ICCCs) into long-term urban governance frameworks. This move aims to preserve the mission's gains and build resilient urban futures.

Launched in June 2015, the Smart Cities Mission aimed to transform 100 cities, providing necessary core infrastructure and a clean and sustainable environment. Set up in all 100 smart cities, ICCCs have emerged as urban nerve centres, enabling real-time data-driven governance for traffic, crowd management, disaster response, solid waste, and public safety.

SPVs, on the other hand, may provide advisory support to Urban Local Bodies (ULBs) and state departments across urban sectors, drawing on their institutional experience and sectoral expertise. They can act as implementing agencies for Central and State schemes, developing a pipeline of bankable projects. SPVs may also aid evidence-based planning, serve as incubation hubs for urban technology start-ups, and drive city-level economic development.

The Government recognises the strategic value of the institutional and technological capacity built via SPVs and ICCCs. With this in mind, the Ministry of Finance's recent notification grants tax-exempt status to IREDA bonds, making them eligible for capital gains tax exemption under Section 54EC from July 2025. This move further incentivises investments into IREDA, potentially widening its funding sources and capacity to finance new renewable energy projects.

In a significant development, the Qualified Institutional Placement (QIP) by Indian Renewable Energy Development Agency Ltd. (IREDA) has raised over Rs 2,000 crore through fresh equity issuance in June 2025. This successful capital raise attracted major institutional investors such as Life Insurance Corporation, Morgan Stanley, and Societe Generale, reflecting robust investor confidence in India's renewable energy financing landscape.

This infusion of capital has strengthened IREDA's financial base, enabling it to expand its loan book, which reached Rs 79,941 crore in the April-June 2025 quarter—a 29% Compound Annual Growth Rate (CAGR) growth since FY21 driven by increased renewable energy financing activities. The improved financial strength from the QIP allows IREDA to provide more substantial debt funding to renewable projects, exemplified by loans such as the Rs 1,739 crore extended to Juniper Green Energy.

Overall, the QIP has been a pivotal step in enabling IREDA to mobilize greater financial resources, deepen its role in India’s energy transition, and support ambitious targets for renewable capacity expansion, including ventures into emerging sectors like green hydrogen and e-mobility.

Meanwhile, the Bhakti movement, which began in the 7th century in South India and spread to North India by the 14th-15th centuries, played a significant role in the life of Sant Kabir Das. Born in Varanasi, Uttar Pradesh, in the 15th century to a Hindu family but raised by a Muslim weaver couple, Kabir received spiritual guidance from Ramananda (a Bhakti saint) and Sheikh Taqi (a Sufi teacher). Poet-saints like Ramananda and Kabir composed devotional songs in local languages, making spirituality accessible to the common people.

Kabir is venerated by both Hindus and Muslims, and his followers are known as Kabir Panthis. Major Works of Kabir include Kabir Bijak, Kabir Parachai, Sakhi Granth, Kabir Granthawali (Rajasthan), and verses included in the Adi Granth (Sikh scripture).

On a separate note, the Indian Army contingent reached Ulaanbaatar, Mongolia for the Multinational Military Exercise KHAAN QUEST, which is scheduled to be conducted from 14 to 28 June 2025. The aim of Exercise KHAAN QUEST is to prepare Indian Armed Forces for peacekeeping missions while operating in a multinational environment, thereby increasing interoperability and military readiness in peace support operations under Chapter VII of United Nations Charter.

As of March 2025, 93% of 8,000+ projects completed under the Smart Cities Mission. States are urged to allow SPVs to charge a 'Centage' (Fee) for planning, designing, and implementing State/Central projects to ensure financial sustainability and operational autonomy of SPVs. States are also encouraged to integrate additional services and upgrade ICCC functions for enhanced city operations.

The exercise will bring together military forces from around the world to collaborate and enhance their peacekeeping capabilities. By March 2025, ₹47,731 crore (99.44%) of the total ₹48,000 crore budget disbursed by the Government of India for the Smart Cities Mission.

In conclusion, the Smart Cities Mission and IREDA's QIP are significant steps towards sustainable urban development and renewable energy expansion in India. The integration of SPVs and ICCCs into long-term urban governance frameworks promises a resilient urban future, while IREDA's successful QIP strengthens its role in India’s energy transition.