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Proposals worth ₹3 lakh cr implemented in 5 years: Yogi
The Uttar Pradesh government continued to implement investment proposals in between the three ground-breaking ceremonies too, said a government spokesman.
LUCKNOW: When UP chief minister Yogi Adityanath claimed on Friday that investment proposals worth ₹3 lakh crore had been implemented in the past five years, he apparently referred to those that his government may have also implemented in between the three ground-breaking ceremonies in Uttar Pradesh.
“Proposals worth ₹4.68 lakh crore were received at the UP Investors’ Summit (on February 21 and 22, 2018). We have implemented proposals worth ₹3 lakh crore in the past five years,” said Adityanath while speaking at the third ground-breaking ceremony at the Indira Gandhi Pratishthan (IGP) here.
However, a close scrutiny of the state government’s claims at three ground-breaking ceremonies indicated that proposals involving an investment of ₹2.09 lakh crore were implemented in the state.
At its first ground-breaking ceremony organised on July 29, 2018, the state government claimed to have implemented 81 projects worth an investment of ₹61,792 crore. At second the grounding-breaking ceremony on July 28, 2019, the state government claimed to have implemented 290 projects with an investment of more than ₹67,202 crore.
At the third ceremony, the UP government claimed implementation of 1,406 projects with an investment of ₹80,224 crore.
“The state government continued to implement investment proposals in between the three ground-breaking ceremonies too and the chief minister apparently referred to these investment proposals,” said a government spokesman.
“Amid the Covid-19 pandemic too, the state government continued investment. We received proposals worth ₹66,000 crore during the period,” he said.
According to the ground-breaking ceremony@3.0 compendium that Yogi released before the ceremony, major projects implemented at the first ground-breaking ceremony included proposals of Reliance Jio Infocomm and BSNL for laying optical fibre cable network in the state.
It also included proposals of Adani Power to lay 765 kv Ghatampur-Hapur transmission line, Kent RO Systems for manufacturing of water purifiers, DCM Sriram for setting up a distillery in Hardoi, Spipick Foods for establishing a spices manufacturing unit at Kanpur.
At the second ground-breaking, the projects implemented included a proposal of Samsung for setting up mobile manufacturing unit at Noida. It also included ITC’s proposal for setting up food processing centre and warehouse in Hardoi, Pepsico proposal for setting up food processing unit in Mathura, Adani Group and Indian Oil Corporation’s proposal for laying PNG infrastructure across UP, Ultratech’s proposal for setting up a cement manufacturing unit in Prayagraj.
Were all proposals for investment of ₹3 lakh crore implemented and operational? “There is always a gap between the investment and output. This is called gestation period, which may be long in respect to certain type of projects. As past two years have witnessed adverse impact of Covid-19, many projects may have got delayed. UP has certainly become an attractive destination for domestic and international investment. Now, investors have shown confidence in expeditious implementation of projects,” said Prof Yashvir Tyagi, former HoD (economics), Lucknow University.
“It would be better if the state government comes out with a list of all the projects, stage of implementation and amount of investment made,” he added.
