At a time when inflation is galloping but growth is largely holding up, how is urban India managing its money? Who’s earning, who’s spending, and who’s saving?
According to projections based on data culled out of a survey of 6 lakh urban Indian households by prominent government agencies including the National Sample Survey Organisation, Delhi is the city that will make the most money in 2008-’09.
Mumbai will be the one spending the most, while Bangalore will be tops in saving.
The number-crunching was done by Indicus Analytics, a prominent city-based think tank, in a study, Market Skyline of India: District Profile 2008-09.
According to the study, the total income of Delhi district will top Rs 1,26,000 crore this fiscal. Mumbai Suburban (Rs 1,16,273 crore), is projected to come second, followed by Bangalore (Rs 60,185 crore).
Three districts in Maharashtra (Mumbai, Thane and Pune) will be among the top five earners.
At the bottom of the pile of 575 urban districts lie Jashpur in Chhattisgarh and Doda in Jammu and Kashmir, with total projected incomes of Rs 81 crore and Rs 106 crore.
Delhi earns the most in absolute terms, but on the savings front, Bangalore tops the study. People of India’s IT hub are projected to save the highest percentage of the district’s total income — 31.9 per cent.
However, Gandhinagar in Gujarat will have the highest per capita saving — Rs 52,679.
Where lavish spending is concerned, however, there’s no one to beat Mumbai. It is projected to save only 13.4 per cent of its total income, spending 86.6 per cent, which works out to a massive Rs 1,00,652 crore.