Addressing the media here, Kejriwal said the project is estimated to cost around Rs 150 crore and is expected to be completed within seven months.
"Initially, 100 buses will get the cameras, GPS and panic buttons. These 100 buses will have the systems ready by the month end," he said.
He said the decision was taken to enhance women's security and also to allow people to see the location and timing of the buses.
"A mobile application will be launched so that people can see the accurate bus timing and location. The application is almost developed," Kejriwal said.
He said all the new buses are already equipped with CCTV cameras, panic buttons and GPS.
"This will enhance the safety of woman commuters in Delhi and enable setting up an app-based live bus information system," the Chief Minister said.
Kejriwal noted that the government had been trying to complete the tendering process in this regard for quite some time. Three tenders had earlier failed in the last three-four years.
"Now, the tendering process has succeeded. The cabinet has decided to issue the work award."
Kejriwal further said that bus stops will also have a passenger information system so that people can see when the next bus is scheduled.
He said if anyone presses the panic button, the control room will be alerted immediately and help rendered.
The Chief Minister also announced that a command centre would be set up for all buses.
"There will be a centralised command room to control and monitor the entire system."
On being asked if the government is using the Nirbhaya funds for the purpose, he said the Centre has refused to give money under the funds to install CCTV cameras in buses.
The Nirbhaya Fund was announced by the Centre in 2013 to support initiatives by state governments and NGOs working towards protecting the dignity of women in India and ensuring their safety.
Speaking on the increasing crimes against women, Kejriwal said that it is sad that so many incidents are taking place against women.
"The governments and agencies should work with clean intention on women's security. It is not that we cannot provide security to our women. We should rise above politics. The society should put pressure on the government for stricter rules," Kejriwal said.
( With inputs from IANS )