International Journal of Social Science & Economic Research
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Title:
THE NATIONAL CAPITAL REGION: AN ANALYSIS OF ECONOMIC GROWTH AND DEVELOPMENT

Authors:
Dr. Monika Kannan and Sunil Tiwari

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1Dr. Monika Kannan and 2Sunil Tiwari
1. Head, Department of Geography, Sophia Girls' College, Ajmer (Autonomous)
2. Research Scholar, Department of Geography Sophia Girls' College, Ajmer (Autonomous)

MLA 8
Kannan, Dr. Monika, and Sunil Tiwari. "The National Capital Region: An Analysis of Economic Growth and Development." Int. j. of Social Science and Economic Research, vol. 3, no. 7, July 2018, pp. 2829-2842, ijsser.org/more2018.php?id=193. Accessed 2018.
APA
Kannan, D., & Tiwari, S. (2018, July). The National Capital Region: An Analysis of Economic Growth and Development. Int. j. of Social Science and Economic Research, 3(7), 2829-2842. Retrieved from ijsser.org/more2018.php?id=193
Chicago
Kannan, Dr. Monika, and Sunil Tiwari. "The National Capital Region: An Analysis of Economic Growth and Development." Int. j. of Social Science and Economic Research3, no. 7 (July 2018), 2829-2842. Accessed , 2018. ijsser.org/more2018.php?id=193.

References
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Abstract:
The Indian economy has undergone a massive transformation in the recent years. India is the 12th largest economy in the world and third largest in Asia after China and Japan. It is not only the series of internal reforms but also the powerful forces of globalization are shaping the new economy. The focus is now shifting towards the development of the urban centers that contribute to more than 60% of the country's total Gross Domestic Product (GDP). However, the contribution of agriculture to the national economy has reduced rapidly due to globalization. Various effects of globalisation are increasingly shaping the economy of the National Capital Region (NCR). Tertiary sector is increasingly becoming the pre-dominant sector in the NCR. The 2011 Wealth Report has ranked Delhi at 37th globally, which is the core of NCR. In terms of economic activity, Delhi (ranked 39 globally) is ranked above cities like Jakarta and Johannesburg. As per Wealth Report, Delhi is to move further up the ranks over the next 10 years. As per the ranking by Mercer, Delhi is the most expensive city in India and ranked at 85 globally, followed by Mumbai (95) and Bangalore (185). The nature of economic activities in the NCR is rapidly evolving. Improved infrastructure, such as introduction of Delhi Metro and its extensions works in central NCR, construction of expressways, investments in roads and other infrastructure such as Delhi-Mumbai Industrial Corridor and Dedicated Freight Corridor, setting up of Industrial Estates/Model Industrial Townships/SEZs, etc. are expected to increase the economic activity within the NCR. The growing concentration of tertiary sector and other value-added services are emerging as a major source of employment and income in NCR. In view of the constantly changing economic scenario of NCR, it is imperative to analyze and assess the economic development trends in NCR, along with economic/fiscal policies and suggest future directions of growth.