Reports & Indices Current Affairs - 2019

This category comprises Current Affairs 2019-2020 related to various reports and indexes / indices by National and International Bodies and organizations such as World, Bank, World Economic Forum, NITI Aayog and various other educational and research organizations. We also place report highlights of various committees and commissions in this category.

Category Wise PDF Compilations available at This Link

World Dynamic City 2019

The City Momentum Index of JLL which identifies World Dynamic Cities has been released by the property consultant JLL.

About the Index

The City Momentum Index of JLL measures momentum for 131 of the world’s most commercially active cities by tracking a range of socio-economic and commercial real estate indicators over a three-year period to identify the urban economies and real estate markets undergoing the most rapid expansion.

The Index measures short-term momentum over a three-year horizon and identifies urban economies and real estate markets which are currently undergoing significant rapid growth.

World Dynamic Cities 2019

The standings of the various cities under the 2019 survey are listed below:

Top 10 Cities

  • Silicon Valley of India, Bengaluru has emerged as the world’s most dynamic city among 131 major established and emerging business hubs globally.
  • The Second place is occupied by Hyderabad.
  • Other Indian cities which featured in the top 20 list are Delhi (4th), Pune (5th), Chennai (7th) and Kolkata (20th).
  • 19 of the top 20 cities from are from the Asia Pacific. This showcases the region’s rapid urbanisation and strong economic growth.

The Index notes that implementation of reforms such as RERA and GST with a focus on improving infrastructure and improving ease of doing business has brought in more transparency in the real estate sector and has given a strong impetus to the sector. As a result, India is receiving greater interest from foreign real estate investors who are seeking to tap into the countries favourable growth dynamics.

Vision 2040 document: Aviation

The Union Minister for Civil Aviation Suresh Prabhu released the Vision 2040 document in the Global Aviation Summit 2019. The Global Aviation Summit 2019 is organized in Mumbai with the theme ‘Flying for All’.

Forecasts of the Vision Document

The forecasts of the Vision 2040 document are:

  • The document estimates that India will need 200 airports and an investment of $40-50 billion to handle at least 1.1 billion passengers flying to, from and within the country.
  • It is estimated that passenger traffic (to, from and within India) for FY 2040 would be 1.1 billion, which is six times the 187 million traffic recorded in FY 2018.
  • Most of the airports’ passenger capacity will saturate in the next 15 years and India will have to nearly double the count from 99 to 200.
  • Even the second airports in regions like Delhi and Mumbai would be saturated by 2040 and will require a third airport.
  • In order to cater to this huge passenger traffic, India will have to holistically develop airports having all stakeholders on board. This has to be coupled with providing quality service to flyers.
  • The scheduled airline fleet will rise from 622, at the end of March 2018, to 2,360 till March 2040.
  • Even though India is a “price sensitive” market, gradual rise in per capita incomes, increased (perceived) value of ‘time’, propensity for leisure and tourism will lead to more and more Indians using airways as a medium to travel.

Recommendations made in the Vision Document

The Vision Document makes the following recommendations:

  • Ushering in amendments to Land Acquisition, Rehabilitation and Restructuring Act, 2013 and adopting “land-pooling” techniques to develop newer airports.
  • Lower Goods and Services Tax (GST) since taxes add pressure on the airline’s bottom line.
  • Aviation turbine fuel (ATF) to be brought under GST.

The Vision document for 2040 also addresses areas of concerns for maintenance, repair and overhaul (MRO), human resource development, aviation safety and security, ground handling mechanism, air navigation and remotely piloted aircraft (drones).