toronto municipality budget
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Orginally posted by rajcanada
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Orginally posted by Loser
Does 6 billion and 1 billion mean something to you and we are talking billion Canadian dollars.
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If you talk of budget of a city, obviously it will be in billions of Dollars or crores of Rupees. Just an example: Is lifestyle of a person earning 30,000 INR same as that of a person earning 950 CAD in Canada or can you buy same amount of products and services for a fixed sum of CAD in Toronto and in Mumbai. Are salaries same in Toronto and Mumbai for similar trades? Only for example, is a crane operator in Toronto and Mumbai earning the same? Does 1 CAD=35 INR not come into play?
Obviously Toronto's budget would be higher even if less population than Mumbai.
I’ll use the International Cost of Living Index to highlight the comparison between Bombay’s budget and that of Toronto.
Per the International Cost of Living Index, Canada’s cost of living number is 105, India’s is 93. Adjusting for this, Bombay’s annual spend would be roughly equal to Canadian $2.03 billion, which is still far behind that of Toronto’s spend of $7.5 billion, although Toronto’s population is roughly one third that of Bombay’s.
But perhaps the best indicator of the difference in spends is the condition of infrastructure……
I have included a link for the source of the International Cost of Living numbers that I used.
http://settlement.org/sys/link_redirect.asp?link=http://www.expatforum.com/Resources/icol.htm
Using the above index, a person earning CAD 3200 in Toronto and around 95,000 INR a month have same standard of living. It is hard for me to believe though!
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Quote:
Orginally posted by rajcanada
Using the above index, a person earning CAD 3200 in Toronto and around 95,000 INR a month have same standard of living. It is hard for me to believe though!
Well, that’s what the numbers say........
Furthermore, while assessing the requirements of a city, one cannot rationalize things from an individual’s perspective.
For example if a waste management system (just an example) is to be purchased from the United States, the cost of the system – in US dollars - would be the same for both the Bombay Municipality and for City of Toronto. In that sort of a situation, the cost of a waste management system would be unaffordable to the Bombay municipality (given the amount of dollars in spending that are available per capita), but very affordable to the City of Toronto.
The example of a waste management system could be extended to a range of equipment, ranging from transportation systems, to a fire truck to sanitation equipment, as well as their maintenance....
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Orginally posted by crenshaw
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Orginally posted by rajcanada
Using the above index, a person earning CAD 3200 in Toronto and around 95,000 INR a month have same standard of living. It is hard for me to believe though!
Well, that’s what the numbers say........
Furthermore, while assessing the requirements of a city, one cannot rationalize things from an individual’s perspective.
For example if a waste management system (just an example) is to be purchased from the United States, the cost of the system – in US dollars - would be the same for both the Bombay Municipality and for City of Toronto. In that sort of a situation, the cost of a waste management system would be unaffordable to the Bombay municipality (given the amount of dollars in spending that are available per capita), but very affordable to the City of Toronto.
The example of a waste management system could be extended to a range of equipment, ranging from transportation systems, to a fire truck to sanitation equipment, as well as their maintenance....
Yes, that is what I am saying! 1 CAD=35 INR does come into play. Canada has a stronger currency. So comparing purely in terms of budget in CAD would be unfair.
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Quote:
Orginally posted by rajcanada
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Orginally posted by crenshaw
Furthermore, while assessing the requirements of a city, one cannot rationalize things from an individual’s perspective.
For example if a waste management system (just an example) is to be purchased from the United States, the cost of the system – in US dollars - would be the same for both the Bombay Municipality and for City of Toronto. In that sort of a situation, the cost of a waste management system would be unaffordable to the Bombay municipality (given the amount of dollars in spending that are available per capita), but very affordable to the City of Toronto.
The example of a waste management system could be extended to a range of equipment, ranging from transportation systems, to a fire truck to sanitation equipment, as well as their maintenance....
Yes, that is what I am saying! 1 CAD=35 INR does come into play. Canada has a stronger currency. So comparing purely in terms of budget in CAD would be unfair.
??? I just said that purchasing of equipment systems and their maintenance would be the same for both the municipality in Bombay as well as the City of Toronto.........1 CAD = 35 INR (or purchasing power parity computations) would not really come into play because chances are they would each be customers in the international markets for a lot of the same products / systems that would cost the same in US dollars irrespective of whether you are a buyer from Canada or from India.....
In any case, the best indicator of who has the more effective budgetary spend is the condition of infrastructure, obviously Toronto fares a helluva lot better than Bombay on this score...
Crenshaw i like your scientific explanation.
These other guys are just multiplying 1 $ into 38 rupees and dont realise that it is not just local expenses that the municipality has but international ones because we are living in a global world.
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Posted on: 12-10-04 22:43:05
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Posted on: 12-10-04 22:43:05
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