Economy
See also: Category:Companies based in New DelhiConnaught Place, one of northern India's largest commercial and financial centres, is located in the northern part of New Delhi. Adjoining areas such as Barakhamba Road, ITO are also major commercial centres. Government and quasi government sector was the primary employer in New Delhi. The city's service sector has expanded due in part to the large skilled English-speaking workforce that has attracted many multinational companies. Key service industries include information technology, telecommunications, hotels, banking, media and tourism.
The 2011 World Wealth Report ranks economic activity in New Delhi at 39, but overall the capital is ranked at 37, above cities like Jakarta and Johannesburg.
The Government of National Capital Territory of Delhi does not release any economic figures specifically for New Delhi but publishes an official economic report on the whole of Delhi annually. According to the Economic Survey of Delhi, the metropolis has a net State Domestic Product (SDP) of Rs. 83,085 crores (for the year 2004–05) and a per capita income of Rs. 53,976($ 1,200). In the year 2008–09 New Delhi had a Per Capita Income of Rs.1,16,886 ($ 2,595).It grew by 16.2% to reach Rs.1,35,814 ($ 3,018) in 2009–10 fiscal. New Delhi's Per Capita GDP (at PPP) was at $ 6,860 during 2009–10 fiscal, making it one of the richest cities in India. The tertiary sector contributes 78.4% of Delhi's gross SDP followed by secondary and primary sectors with 20.2% and 1.4% contribution respectively.
The gross state domestic product (GSDP) of Delhi at current prices for the year 2011-12 has been estimated at Rs 3.13 lakh crore, which is an increase of 18.7 per cent over the previous fiscal.
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Famous quotes containing the word economy:
“War. Fighting. Men ... every man in the whole realm is in the army.... Every man in uniform ... An economy entirely geared to war ... but there is not much war ... hardly any fighting ... yet every man a soldier from birth till death ... Men ... all men for fighting ... but no war, no wars to fight ... what is it, what does it mean?””
—Doris Lessing (b. 1919)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)