India's leading
housing finance company HDFC's Chairman Mr. Deepak Parekh had lambasted
the central government for doing very little for urban infrastructure although
43% of the country's wealth is generated by top 100 cities.
Mr. Deepak Parekh
said, "A comparison of BRIC nations reveals that India's pace of
urbanisation ranks the lowest. India spends barely 0.1% of its GDP (Gross
Domestic Production) on urban development, whereas the minimum requirement is
0.25% of GDP per year,"
India will require
Rs. 39.2 lakh crore for investment in urban infrastructure over the next 20 years.
Rising urbanisation
generally translates into better jobs, increased incomes & a higher
standard of living.
Our country India's
urban population is projected to increase from 31 per cent presently to 40 per
cent by 2030 and by 2050, more than two thirds of Indians will be living in
urban areas.
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