Delhi, Mumbai among Least Expensive Cities in the World
The content in the survey reports is derived from the extensive economic, financial, political and business risk analysis of over 203 countries worldwide. The cost of petrol prices in New Delhi is noted to have more than doubled in the past decade in U.S. dollar terms, while rice prices have increased almost threefold and a marginal increase is seen in the cost of a loaf of bread.
It was also recorded that the cheapest cities in the ranking are dominated by Asian and Middle Eastern cities. The latter owes, in part, to the use of price controls and the pegging of currencies to the U.S. dollar.
In India the GDP spilt in agriculture is noted to be 3.5 percent in 2012 and is expected to decrease to 3.0 percent in 2013. In the industry sector a percentage change of 4 percent is noted in 2012 and is expected to be 8 percent in 2013. In the service sector 8.8 percent in 2012 is noted and is expected to increase to 9.2 in 2013.