Bengaluru, Delhi And Mumbai Rank Poorly In Global Prosperity Index
At a time when Indian cities are struggling with basic infrastructure, the first-ever Prosperity & Inclusion City Seal and Awards (PICSA) Index has come as another eye-opener, for metro cities such as Bengaluru, Mumbai and Delhi. In a list of 113 cities, Bengaluru was ranked at 83, while Delhi was at 101 and Mumbai at 107 at the index. Switzerland’s Zurich was on the first position while Vienna in Austria, Copenhagen in Denmark, Luxembourg and Helsinki in Finland, were the other cities in the top five. Taipei was the only Asian city in the top 10. Other Asian cities which ranked in the top 50 include Tokyo, Osaka, Singapore and Seoul.
The index is based not only on the quantity of economic growth of a city but also its quality and distribution across populations. Zurich scores strongly across all parameters, particularly on quality of life, work, housing, leisure, safety, and education – with the Swiss higher education system attaining an especially high score.
For the index, the cities were assessed on comparable data from the main focus areas by a jury of experts and business leaders. These assessments then produced an overall score for each city's inclusive prosperity, allowing them to be ranked, based on a wide range of measures.
It is the first time that the world's major cities have been ranked not just on the basis of size and health of their economy, but for their efforts to build inclusive and prosperous environments for all its citizens.
Access To Credit Has Improved In India, Says Legatum Prosperity Index
The prosperity has improved around the world in 2017, but, the fastest-moving region has been Asia-Pacific, a recently released the Legatum Prosperity Index 2017 said. According to the Index released by international think-tank Legatum Institute, gains came through a fast-improving business environment, especially in the population centres of India (100th), China (90th), Pakistan (137th) and Indonesia (59th). It is now easier to access credit, and intellectual property rights have improved.
While European nation Norway topped the list, India moved up four notches compared to its last year's ranking of 104.
In the Index, the prosperity of a country is calculated on the basis of nine pillars – economic quality, business environment, governance, personal freedom, social capital, safety and security, education, health and natural environment.
Here are some of the findings:
*India improved four ranks through gains in business environment, economic quality and governance. In economic quality, this is due to the proportion of the population with bank accounts, which increased from 35 per cent in 2011 to 53 per cent in 2014.
*India saw the largest falls in reported availability of adequate food since last year. In India, the number of people saying there had been times when they did not have enough to eat rose from 26 per cent to 35 per cent.
*India has significantly improved in terms of economic quality and education pillars. For instance, more people are now satisfied with their standard of living and household incomes.
*India fares poorly in terms of personal freedom (100th), safety and security (134th) and natural environment (139th). The total number of countries surveyed stood at 149.
*In terms of governance, the report says that a notable example in legislation in India is the increased ability to challenge regulation in the legal system.
Rank in 2015
Rank in 2016 (104)
Rank in 2017 (100)
Safety & Security
With additional inputs from Sneha Sharon Mammen and Housing.com News