In the first phase, Centre will pick 20 cities to be developed as Smart Cities and in the next two years 40 cities each will be selected for receiving central funding of Rs 500 crore in the next five years. After the identification of 100 smart city aspirants, UD Ministry will release soon Rs 2 cr for each selected city for preparation of smart city plans. Union Cabinet has cleared a Central Assistance of Rs.48,000 cr for smart city mission for five years.