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- With urban India responsible for an increasingly large share of the national GDP, the Centre now hopes to bring out city-level GDP data.
- This could help both cities and investors make wise decisions, and also help municipal bodies raise funds for their own infrastructure needs
- feasibility study of various models to calculate citylevel GDPs for the MoHUA.
- When we talk about Smart Cities, there are three main components: an improved quality of life, a robust economy leading to job creation, and sustainability built into every aspect. But we cannot improve what we cannot measure,”
- a city-level GDP calculation would help give shape to the economic indicators needed.
- City-level GDP data, could help municipal bodies make better decisions on needed infrastructure and investment, and also leverage their economic strength to raise funds to finance their needs.
- One of the aims of the Smart Cities Mission has been to increase the share of municipal financing of infrastructure projects.
- the data requirements may be too challenging and a top-down approach using household expenditure data may be more feasible in the short term.
- There is currently no reliable quantification of the magnitude of the economic output of Indian cities.
- it can bolster the case for reforms that are critical for cities to deliver on their economic potential such as greater devolution of power, finances and trained personnel to city governments.
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