Brief Context
In News The report titled Towards Resilient and Prosperous Cities in India recently released by the World Bank. About the report It is prepared by the World Bank in collaboration with the Ministry of Housing and Urban Affairs. It studied 24 Indian cities, with a special focus on Chennai, Indore, New Delhi, Lucknow, Surat and Thiruvananthapuram.
Source Content
Syllabus: GS3/Economy
In News
- The report titled Towards Resilient and Prosperous Cities in India recently released by the World Bank.
About the report
- It is prepared by the World Bank in collaboration with the Ministry of Housing and Urban Affairs.
- It studied 24 Indian cities, with a special focus on Chennai, Indore, New Delhi, Lucknow, Surat and Thiruvananthapuram.
Key Findings of Recent Report
- Indian cities have huge potential for economic growth, with 70% of new jobs expected to come from cities by 2030.
- India’s urban population is expected to nearly double by 2050, reaching 951 million. This will create a need for over 144 million new homes by 2070.
- Smart investments can prevent $5 billion in annual flood damage by 2030 and up to $30 billion by 2070.
- Also, over 130,000 lives can be saved from extreme heat by 2050.
Issues
- Cities face growing risks from extreme weather like heatwaves and floods.
- Rising temperatures in city centers and poor drainage due to fast construction are making cities hotter and more flood-prone.
Recommendations
- Implement programs to address extreme urban heat and flooding, including better regulation of stormwater, green spaces, installation of cool roofs, and effective early warning systems.
- Invest in resilient infrastructure and municipal services, energy efficient and resilient housing, modernize solid waste management, and make urban transport flood resilient.
- Improve access to urban finance through better private sector engagement.
- Investments of over $2.4 trillion will be needed by 2050 to meet the need for new, resilient, and low-carbon infrastructure and services in cities.
- The private sector’s role will be critical in meeting these investments.
Source :IE