Patna needs to be promoted as poverty fighter and engine of
economic growth of Bihar. Patna needs to
choose local economic development (LED) indicators and tools that can be used
to collect and analyse data and assess the overall competitiveness of the local
economy. Local priorities include identifying ways
to improve the Patna’s overall economic performance and efficiency, promote
competitiveness of the city in national and international contexts, and develop
a broad-based job creation plan that includes the informal sector.
economic growth of Bihar. Patna needs to
choose local economic development (LED) indicators and tools that can be used
to collect and analyse data and assess the overall competitiveness of the local
economy. Local priorities include identifying ways
to improve the Patna’s overall economic performance and efficiency, promote
competitiveness of the city in national and international contexts, and develop
a broad-based job creation plan that includes the informal sector.
Overall success will come from involving all types of
businesses (from microenterprises through larger private sector firms) in
crafting the local development strategy, securing their involvement and
investment, and defining the supportive role of the central government. A
successful city development strategy (CDS) for Patna requires to be based on a
careful assessment of the local economy components on which effective
development strategies can be built.
businesses (from microenterprises through larger private sector firms) in
crafting the local development strategy, securing their involvement and
investment, and defining the supportive role of the central government. A
successful city development strategy (CDS) for Patna requires to be based on a
careful assessment of the local economy components on which effective
development strategies can be built.
A thorough knowledge and assessment of local conditions in
Patna is required to implement city development strategies (CDSs). Therefore,
effective LED strategies must be closely tailored to fit the specific local
economic conditions and potential sources of competitive advantage in Patna.
This can be achieved by making a thorough assessment of the city’s
competitiveness, the starting point of any economic strategy. Only with a
strong understanding of the Patna’s current economic structure, capacity,
strengths, and weaknesses is it possible for Patna to put opportunities and
challenges into context, develop a clear development vision, and prioritize
strategic activities for growth. The effective local economy assessment that
follows will help to ensure a better city strategy that creates jobs, spurs
economic growth, and fosters social development.
Patna is required to implement city development strategies (CDSs). Therefore,
effective LED strategies must be closely tailored to fit the specific local
economic conditions and potential sources of competitive advantage in Patna.
This can be achieved by making a thorough assessment of the city’s
competitiveness, the starting point of any economic strategy. Only with a
strong understanding of the Patna’s current economic structure, capacity,
strengths, and weaknesses is it possible for Patna to put opportunities and
challenges into context, develop a clear development vision, and prioritize
strategic activities for growth. The effective local economy assessment that
follows will help to ensure a better city strategy that creates jobs, spurs
economic growth, and fosters social development.
The lead actors in Patna’s economy assessment need to be
fundamentally local—
and are those with a clear responsibility for and a commitment to improving the
city’s development prospects. Political leadership and support at the city
level is more important than top-down support from either regional or national
governments.
fundamentally local—
and are those with a clear responsibility for and a commitment to improving the
city’s development prospects. Political leadership and support at the city
level is more important than top-down support from either regional or national
governments.
The prosperity and welfare of Patna depends on the capacity
to take advantage of opportunities for sustained employment growth and minimize
the challenges of global economic integration and population growth in Patna.
Therefore, the quality of economic development planning and city management is
extremely important.
to take advantage of opportunities for sustained employment growth and minimize
the challenges of global economic integration and population growth in Patna.
Therefore, the quality of economic development planning and city management is
extremely important.
Developing sound local economic development (LED) strategies
at the city level is critical to both good city management and economic
performance. For Patna, understanding the local economy also includes assessing
the informal economy and harnessing it to create sustainable sources of income
for their urban poor. For Patna, it involves not only understanding the
economic foundations of slums and deprived communities, but also finding
opportunities for slum upgrading.
at the city level is critical to both good city management and economic
performance. For Patna, understanding the local economy also includes assessing
the informal economy and harnessing it to create sustainable sources of income
for their urban poor. For Patna, it involves not only understanding the
economic foundations of slums and deprived communities, but also finding
opportunities for slum upgrading.
Patna real estate will play a major role in developing
Patna. Sound
local economic development will also help in keeping property prices in Patna
in a range affordable and sustainable for all stakeholders.
Patna. Sound
local economic development will also help in keeping property prices in Patna
in a range affordable and sustainable for all stakeholders.
To harness full potential of Patna and making it a world
class city, economic strategy based on local advantages and urbanization with
Patna real estate leading from front are must.
class city, economic strategy based on local advantages and urbanization with
Patna real estate leading from front are must.
