Explanation:

Third is incorrect. Profession based segregation of residences is not going to be a feature of Smart Cities

The Smart Cities Mission is an innovative and new flagship initiative by the Government of India to drive economic growth and improve the quality of life of people by enabling local development and harnessing technology as a means to create smart outcomes for citizens.
The Mission will cover 100 cities and its duration will be five years from 2015 to 2020. The Mission is implemented by the Ministry of Urban Development (MoUD). SCM will be operated as a Centrally Sponsored Scheme (CSS) where in the central Government proposes to provide financial support up to Rs. 100 crore per city per year. An equal amount, on a matching basis, will have to be contributed by the State/ULB.