The report, which took into consideration 57 parameters before arriving at the conclusion, said between Delhi and Greater Mumbai, the former takes the lead on city prosperity index due to its lower population and hence higher per capita income. The national capital also indicates greater propensity to save earnings and lower credit growth.
The constancy firm's findings were unveiled by Urban Development Minister Jaipal Reddy at the Ficci-organised International Real Estate Summit which was held on September 27th in Mumbai.. On the business environment index as well, Delhi out scored all other cities as it has a large workforce and more number of management graduates, people employed in trade and services and other business activity as compared to most of the other major cities such as Mumbai, Chennai and Bangalore.
However, on the urban governance index, Greater Mumbai top-scored, leaving Delhi at the second spot. "Delhi has arguably the best infrastructure in India. It has outperformed almost all cities on all the indicators that comprised the infrastructure index," the report said lauding its road network and social infrastructure, including hospital and educational institutes.
The Ernst and Young report places both Delhi and Greater Mumbai in the same bracket when it comes to quality of life index. "They have a large supply of hotel rooms as well as huge and elaborate multi-modal public transport system. These cities have the best possible leisure activities available in the country," the report said.
The success of Navi Mumbai and proposed mega Special Economic Zones (SEZs) such as NMSEZ indicates that Mumbai's status as the commercial capital of the country remains unchanged, it. said.
However, the city's infrastructure has lagged far behind its economic growth, the report pointed out."With several mega infrastrcuture projects such as Mumbai Urban Transport Project and Bandra-Worli Sea Link initiated, their implementation would determine Mumbai's ability to compete with Delhi in the near future," it added.
Contributed By : Sangeet Kumar