Nightlife in Delhi is very active as the youths and the young professionals love to enjoy themselves. They love to party over the weekend. Some of the young office goers love to catch for a drink or lounge around for a while post office. In the modern day life people take it as a stress […]Continue Reading
Business and Finance in Delhi
India has brushed aside the ripple effects of the global economic meltdown to surge ahead of other economies in the world. And this is evident from the fact that it is showing an all round economic development. Irrespective of whether it is a fiscal policy or a monetary policy, they originate from desk of the supreme authority of the country dwelling in Delhi.
The business and finance sector in Delhi has recuperated rather fast after the aftermath of the subprime mortgage crisis that originated in the United States of America.
Following the irresponsible behavior of the mortgage lenders in USA that led to the financial catastrophe, the financial sector comprising lending institutions have tightened their strings as far as extending credit is concerned. This holds true not only for the sectors dealing in business and finance in Delhi but also in the other cities and states of the country. Caution is the catchword that the lending institutions are adopting.
Financial sector in Delhi
Whether it is the corporate, public, or personal financial sector, they have looked up equally. The Delhi Financial Corporation, Delhi Finance Commission, and Delhi Co-Operative Housing Finance Corporation Limited help the citizens of Delhi. They have always risen to the needs of the common man and extended all possible help.
Business sector in Delhi
The business sector comprising the real estate participants to florists are keeping abreast with the changing conditions of the market. The service providers like accounting firms, packers and movers, architects, and estate agents etc are doing brisk business in Delhi.
As the purchasing power of the individuals escalates, the demand for the service providers is also on the rise.
The fact that the employment rate in Delhi is fairly good has also contributed immensely to the growth of business and finance in Delhi. The economy of Delhi comprises both private as well as public companies that have mushroomed in the city over the years.
Growth in Industries has led to economic growth
Delhi also has a few industries that have contributed to the growth of the economy of the capital city of the country. The Government of India introduced the industrial policy that envisages that the industrial production should be optimum by making use of minimal power. This in turn should facilitate employment opportunities in the city. So, there is a cycle and it is like a chain of events that are interlinked.
Government incentives facilitating economic growth
Moreover, a couple of incentives introduced by the Government of India have helped the individual entrepreneurs to grow and flourish. For instance Delhi State Industrial Development Corporation or DSIDC offers help to the investors with regard to market surveys as well as evaluation of projects.
The Government has also helped women entrepreneurs to flourish. A classical example of the same is 10% reservation for women entrepreneurs that the government entitled the women to at the Jhandewalan Complex etc.
The efforts taken by the government in promoting industrial growth and entrepreneurship has shown results. This is evident from the growth that Delhi economy has manifested. This has led to the upswing in business and finance in Delhi.