"Smart Cities idea is wrong and its theory is also wrong.
"Under the Smart Cities mission, state governments will need to contribute Rs 500 crore in five years, i.e., Rs 100 crore in every year while central government will spend Rs 100 crore a year for five years. This is to be spent for setting up a building with A to Z facilities, not the entire area or the city. What about other areas or cities?" she asked.
"It would be better not to spend Rs 500 crore. Instead, we can do much more if the money is with us," she said.
Felicitated by all the leading business chambers on Tuesday, Banerjee urged businessmen not to be afraid while implementing development projects and advised them to take legal action if local 'agency' creates disturbances for various political reasons.
"Six cities in Bengal are ready. These will be over the smart cities project. We have land banks, land map and land use pattern urging businessmen to take up projects," she said.
"Please tell us what is easy and what is not. There is no point wasting time for preparing detailed project reports and follow the tendering process," she told the captains of industry.
She also asked why the Credai (Confederation Of Real Estate Developers' Associations Of India) was not taking up projects and why was it so silent.
"There is no point of saying about the downturn of the economy. Is the market subdued or we keep the market subdued," she asked.