Goldman Sachs recently predicted that India would overtake the US to become the second-largest economy in the world after China by 2042 in a report that sharply lifted the investment banks forecast of the countrys long-term growth rate.
Adil Zainulbhai, head of McKinsey in India, said the surge in incomes would depend on the government undertaking a reform programme to reduce the fiscal deficit, promote competition and invest in infrastructure, healthcare and education.
The size of the addressable market for businesses will surge as internal migration lifts the urban population from 318m to 523m and reduces the proportion living in harder-to-reach rural areas from 71 to 63 per cent.
Indias middle class, defined as those earning between $4,400 and $22,000, will rise from 50m people, or 5 per cent of the population, to 583m people, or 41 per cent by 2025, more than tenfold
The number of Indians living in deprivation, defined as those with incomes of less than $5.40 a day, has already fallen from 93 per cent of the population in 1985 to 54 per cent today and will decrease to 22 per cent by 2025.
The number of global Indians with incomes of over $22,000 will rise tenfold to 24m, their average incomes climbing from $35,000 in 2005 to $50,000 in 2025.
RE:mumbai is also underworld capital of south east asia- al-rokade
by Blessings All on Jun 19, 2007 02:58 AM
What are you upto Vaghela, I am seeing you posting these messages in many articles comments section. What you are telling is your opinion and one-sided, why should anyone believe you without hearing from the other party. You are doing nothing but the character assasination of different people on a very public board. You may have been wronged but maybe you are a very difficult and hard man and provoked people,,, who knows
Mumbai: India's costliest city for expats No wonder we should also realise that mumbai is also most polluted/going to be the most polluted along with other cities mentioned Are we doing right All wealth is getting concentrated in one place There is lot of conjetion. Its just like our SEZ where money is getting concentrated. our villages also need to be developed and our cities would be conjestion if equal opportunities and facilities are provided in villeges. Our poplation is mostly involved in agriculture and most of our agriculturists are uneducated,illitrate and ppractice age old techniques and end commiting suicides.
Infact Middle class & Lower Middle class (Forget about Poor) have given up their hope of their own house in Bangalore..Being in IT Industry for years & even getting above Industry salary I can not afford one 800 Sqft Flat in Bangalore..It really looks unrealistic..God save Bangalore..!!:-(
RE:Bangalore is indeed costliest city
by Rahul Khanna on Jun 19, 2007 01:35 AM
Santro,
And if people like you keep looking, the situation will never change. Remember the old demand and supply theory.
What you could do is live in a rented place, save the money you'll be paying through your nose if you bought a place in Bangalore, and invest it in an up and coming real estate development.
The more you guys chase these SOBs, the more they will make you run!!
But don't worry, every bubble has a limited shelf life. The unrealistic size that this bubble has gained, it would be interesting (to say the least) to see how spectacularly it bursts!!
RE:Bangalore is indeed costliest city
by Rajesh Ramasubramanian on Jun 19, 2007 05:52 PM
This time it wont burst. The market will correct itself with a reduction of 20-25% drop in real estate prices.
Why will it not burst? Forex reserves booming Jobs booming Salaries booming
RE:Bangalore is indeed costliest city
by Kunal Sinha on Jun 18, 2007 11:45 PM
This would happen if you want to buy a flat from Sobha or similar developers. Try the basic ones and your need should be satisfied.
Mumbai,Newdelhi,chennai and Bangalore where are these heading for? may be aiming to catch the topmost in this globe.Its truly happy to hear this cities are heading for the top with completely growing for wealthy life styles. It is indeed tough to buy a property in this rocking cities with full flow in money.Loans are not really easy to process in terms of reality. The repayment process is much tougher then the receiving end when living in this cities. Classic malls, enchanting pubs and charismatic life all this will just take out money from your pockets.Good entertainments with business attitudes and other relating trading is increasing the cost of lifestyle which naturally increases the property cost. iam one of the happy man to read this news as one of my home city is appearing in this lists.However this cities has to really turn back and ask does it provide a quality of life to all class of people.The answer still remains a long way to come out as the reality is still on a other way.Lastly i say a word to this cities 'you did well and keep doing well' bye.
RE:RE:No Comments
by Kuldeep Tickoo on Jun 18, 2007 07:43 PM
Dear Amrit, Chup kuin ho gaye veerji. Kuch to bolo. Your silence is very deafening. Kuldeep
RE:No Comments
by raven babu on Jun 18, 2007 09:05 PM
Kolkata is in 1960's.Its growth is terribly slow.Need to study some lessons from Bangalore and Hyderabad
