What is the role of the Special Purpose Vehicle (SP

Please read the following passage and answer the following questions ( Q no 19 to 22) based on the passage. The concept of smart cities has gained significant momentum in India as the country grapples with rapid urbanization, increasing population density, and the need for sustainable development. Smart cities leverage technology and data-driven solutions to enhance urban living, improve infrastructure, and provide efficient services to residents. The importance of smart cities in India can be understood through various facets, including improved quality of life, enhanced infrastructure, economic growth, and environmental sustainability. One of the primary benefits of developing smart cities is the improvement in the quality of life for residents. Smart cities utilize technology to provide better public services, including efficient waste management, clean water supply, and reliable public transportation. For instance, smart traffic management systems can reduce congestion and travel times, while smart lighting and safety systems enhance security and reduce crime rates. By creating a more livable urban environment, smart cities can foster community engagement and social interaction among residents. Infrastructure development is another critical aspect of smart cities. Many Indian cities face challenges such as inadequate housing, poor sanitation, and insufficient public transport. Smart city initiatives focus on upgrading infrastructure through the implementation of smart solutions. For example, smart grids can optimize electricity distribution, while integrated transportation systems can improve connectivity between different modes of transport. By investing in modern infrastructure, smart cities can accommodate growing populations and enhance overall urban resilience.