Yogi Adityanath looks to make Uttar Pradesh a trillion-dollar economy by 2029: Here is the reality

While Uttar Pradesh has risen from eighth to second position economically among Indian states during the eight years of BJP rule, Chief Minister, Yogi Adityanath, is pressing on to turn it into a one-trillion-dollar economy by 2029.

 

However, this contention of UP on the ‘second position’ is not true given that the state’s projected gross domestic product in the financial year 2024-25 is at number five—behind Maharashtra, Tamil Nadu, Karnataka, and Gujarat. 

 

On the per capita income scale, it stands even lower. On the ‘Ease of Doing Business’ scale, too, the state is fifth—after Kerala, Andhra Pradesh, Gujarat, Rajasthan, and Tripura.

 

In a review meeting for the state’s one trillion dollar ambition, it was revealed that investment proposals worth ₹45 lakh crore had been received since 2018, with ₹15 lakh crore already implemented. Employment opportunities for 60 lakh people have been created. At 2.4 per cent, UP’s unemployment rate is below the country’s average of 3.2 per cent.

 

The state government is now planning another Investors’ Summit which shall be preceded by roadshows in major Indian cities and 15 plus foreign locations. This summit, which follows one in 2023, has a target of attracting ₹33 lakh crore worth of investment. The goal is to reach ₹100 lakh crore in investments by 2027.

 

To facilitate investors, Invest UP offices are to be set up in Mumbai, Delhi, and Bangalore. The state is also in a hurry to digitise land use changes within six months while creating a GIS data bank of land for industrial use.

 

Tackling regional imbalances is also a goal to be achieved under the one trillion-dollar economy plan. 

 

For this, the Bundelkhand Industrial Development Authority has been set up to oversee industrial growth between Jhansi and Kanpur. Land around 56,000 acres has been marked for development, and ₹5,000 crore allocated to the authority.

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