Economic Hotspots
One of the most important challenges facing India over the next few decades is identification and nurturing the drivers of economic growth. Given the current concerns on sustainability of development, it is all the more important to factor in the externalities that occur on a growth path, and plan a developmental path such that these externalities do not become the hindrances of the economic growth process itself. Such an effort is also important to study the role of the private sector and design successful public-private partnerships in providing public services. Essentially, this entails understanding the process of urbanization and growth of urban centers in India.
Studies have pointed out that along with economic growth, poverty rates have declined faster in urban areas, particularly in the Southern and Western parts of the country (NCAER, 2002). Moreover, data on deposits and credit growth from the Reserve Bank of India shows new urban centers emerging as “economic hot-spots” during the last few years. These trends do point to creation of some kind of an economic base, at least in selected geographies.
Our study will focus on these emerging “economic hot-spots” and the growing cities, which would be the new economic powerhouses running the domestic economy over the next few decades. The approach is to identify the emerging towns based on available data from the RBI. As a next step, data from intense research on these towns would be mapped.
One of the most important challenges facing India over the next few decades is identification and nurturing the drivers of economic growth. Given the current concerns on sustainability of development, it is all the more important to factor in the externalities that occur on a growth path, and plan a developmental path such that these externalities do not become the hindrances of the economic growth process itself. Such an effort is also important to study the role of the private sector and design successful public-private partnerships in providing public services. Essentially, this entails understanding the process of urbanization and growth of urban centers in India.
Studies have pointed out that along with economic growth, poverty rates have declined faster in urban areas, particularly in the Southern and Western parts of the country (NCAER, 2002). Moreover, data on deposits and credit growth from the Reserve Bank of India shows new urban centers emerging as “economic hot-spots” during the last few years. These trends do point to creation of some kind of an economic base, at least in selected geographies.
Our study will focus on these emerging “economic hot-spots” and the growing cities, which would be the new economic powerhouses running the domestic economy over the next few decades. The approach is to identify the emerging towns based on available data from the RBI. As a next step, data from intense research on these towns would be mapped.
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