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Waste management is a challenging problem for most of the countries. The current waste segregation and the collection method are not efficient and cost-effective. In this paper, a prototype is presented for smart waste management. It is also capable of waste segregation at the ground level and providing real-time data to the administrator. Impact and cost analysis of the deployment of smartbin is also presented considering one ward of Ahmedabad Municipal Corporation. It is clear from that deployment of this smartbin will save about 40% of the current expenditure for that ward.