SME Times is powered by   
Search News
Just in:   • Modi, Hasina discuss bilateral issues, security at Santiniketan meet  • Toyota, Suzuki to discuss joint vehicle production  • Food processing ministry to join hands with international labs: Harsimrat  • Sun Pharma's Q4 consolidated net profit up 7%  • Xi calls for international cooperation in data 
Last updated: 20 Apr, 2018  

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

india-industry
   Top Stories
» Food processing ministry to join hands with international labs: Harsimrat
» Home buyers to be treated as financial creditors: Minister
» Give up single use of plastic, go green: Vardhan
» Continual learning to build social capital vital for business success: HR Professionals
» SIDBI, CSC sign MoU to help village entrepreneurs
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 27 May, 2018
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(19)
» Oil, Rupee concerns(6)
» Year End Review 2016: Report card of MSME Ministry(2)
» Modi chairs twenty-sixth interaction through PRAGATI (1)
» Kalam releases handbook for small entrepreneurs(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter