Retailers in urban India will have more consumers to take care of as the share of urban population is expected to go up by 40 per cent of the total population by 2020-21, says Economic Survey 2008 conducted by the economic division of the ministry of finance.
As per the survey report, urban infrastructure has been a top priority of the government, with an amount of Rs 2,805 crore sanctioned in the year 2007-08 for Sub-Mission on Urban Infrastructure and Governance. A total number of 279 projects have been sanctioned at an approved cost totalling Rs 25,287.08 crore, for 51 cities across 26 states.
The survey further reports that urban transportation will also see a rise as the major objective of urban transport initiative is to provide efficient and affordable public transport. The ministry of urban development has formulated a National Urban Transportation Policy (NUTP) with the objective of ensuring easily accessible, safe, affordable, reliable and sustainable mobility for all.