Financial sector development and smart cities: The Indian case

Abstract

The paper examines the level of financial development of initial twenty shortlisted smart cities in India.

• Results of the study revealed high inter-state and intra-state inequality as the cities with high FSI values and those with low FSI values are both located in the developed western and southern states.

• A similar mixed picture emerges even for the less developed low income states such as Madhya Pradesh.

• The study also highlighted large inter-state variations across the smart cities in financial development.

• For a holistic approach to smart city development, a vibrant and developed financial sector is required.