
Rs. 13 Crores spent on Srinagar ‘Smart city’ cycle tracks, 5 lakh earned
The Srinagar Smart City initiative has spent over Rs 13 crore on a public bicycle sharing scheme and dedicated cycle tracks, yet the project has generated a mere Rs 4.48 lakh in revenue since its launch in May 2023.
Rs 9.06 crore was used to build cycle tracks in Batamaloo, Hazratbal, and Lal Chowk, while an additional Rs 4.14 crore was allocated as viability gap funding to a private firm running the bike-sharing service under a five-year contract. So far, Rs 1.2 crore of this funding has been disbursed.
Despite this significant public expenditure, the network of 900 bicycles and 100 docking stations has failed to attract meaningful public participation. Docking stations are concentrated in upscale areas like Lal Chowk, Dal Gate, and Hazratbal, locations that cater more to aesthetics...