Bangaloreans! It’s time to rejoice as the Garden City has got yet another feather in its cap. According to the Prosperity & Inclusion City Seal and Awards (PICSA) Index, Bangalore is now India’s top-ranked city in the Global Prosperity Index. It stands in the 83rd position, followed by Delhi in 101st position and Mumbai in 107th position. This PISCA index was released in the Basque Country capital of Bilbao in Northern Spain. This index showcases a city’s quality and distribution of wealth across populations, along with the quantity of economic growth.
What’s In It?
Only 3 Indian cities have successfully made it to the list, which measures cities on the basis of its social and economic inclusivity. Director of Strategic Programmes at the Regional Council of Biscay, Asier Alea Castanos explained that the PICSA is the first-ever non-commercial ranking index. It is a new measure of economic productivity that provides a holistic account of the economic well being of people in the city. It also analyses the population to find out how empowered the people are to contribute to the economy and its shared benefits. PICSA measures economic productivity in a wholesome manner that goes beyond the GDP.
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Asier Alea Castanos further added that success needs to be measured in different ways, and the government and private sector too agree with this viewpoint. Factors like health, quality of life, housing affordability, need to be put alongside jobs, incomes and skills when measuring prosperity.
What’s More?
When it comes to measuring cities worldwide in a holistic manner to evaluate its prosperity, Bangalore is India’s top-ranked city. It’s also one of the cities in India that provides some of the highest salaries to its employees, along with other benefits. Which is the highest-ranking country in this Global Prosperity Index? Well, Zurich in Switzerland bagged the first position, followed by Vienna, the capital of Austria. Copenhagen, Helsinki and Luxembourg took the 3rd, 4th and 5th places respectively.
Dr Bruno Lanvin, Founder, and CEO at D&L Partners stated to a reputed news agency that without equity and inclusion, economic growth is not sustainable, and without growth, equity is about redistributing poverty. He further added that by measuring the performance of cities across different pillars of inclusive prosperity like the PICSA Index, policymakers would be able to identify high performers in specific domains and establish road maps of best practice. Well, Bangaloreans, Delhiites and Mumbaikars, it’s time for you to bask with pride, as your cities have done our country proud thanks to it being prosperous in a holistic manner. Did you know Kerala Bags First Spot In Top 20 Global Trending Destinations For 2020