SME Times is powered by   
Search News
Just in:   • US stocks rally amid trade optimism, economic data  • HDFC Bank's Q3 net profit up 20%  • Centre may miss divestment, fiscal deficit targets  • CII suggests measures to help MSME sector  • Imran Khan seeks expedition of CPEC projects 
Last updated: 20 Apr, 2018  

Population.9.Thmb.jpg Urban population contributes more than half to GDP

india-industry
   Top Stories
» Centre may miss divestment, fiscal deficit targets
» CII suggests measures to help MSME sector
» FICCI for housing scheme for women garment workers
» India's debt up 50% to Rs 82 lakh cr under Modi govt
» Big relief to startups, investors as govt liberalises norms
SME Times News Bureau | 20 Apr, 2018

India's urban population contributes more than half to the country's GDP, said Department of Economic Affairs (DEA) Joint Secretary Kumar V. Pratap, on Thursday, in New Delhi.

One third of the Indian population, which lives in urban areas, contributes more than half to the GDP and therefore, urban dwellers are among the most productive segments of the population, said Kumar V. Pratap.

Speaking at the 2-day Regional Conference on “Urban Development: Technological Solutions and Governance Challenges” which began in Ahmedabad on Wednesday, he added that augmenting urban infrastructure will cost a lot of money.

However, Urban Local Bodies (ULBs) own revenues as a percent of GDP is very low below 1%. According to the Economic Survey 2016-17 of the Ministry of Finance estimates that currently Bengaluru and Jaipur are collecting not more than 5 to 20% of their property tax potential.

This implies that cities could increase their resources 5 to 20 fold from property taxes only.

He also gave details about the catalytic missions such as Smarty City Mission, AMRUT and the Swachh Bharat Mission of the Central Ministries.

The Ministry of Finance with the Associated Chamber of Commerce and Industry of India (ASSOCHAM), Gujarat Council along with Asian Infrastructure Investment Bank (AIIB), and Research and Information System for Developing Countries (RIS) has organized the event.

 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 20 Jan, 2019
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» HostBooks Ltd. offers a seamless GST filling experience: Kapil Rana(3)
» Ashok Leyland to launch 13-seater passenger vehicle, LCV(1)
» CII welcomes GST Council steps as MSME friendly(1)
» Hyperloop start-up Arrivo to shut down: Report(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter