Roadmap for trillion-dollar economy: 9 months on, UP govt yet to issue fresh bids to appoint consultant

As two precious years of the five-year timeline (2020-2025) have already passed, the state government would have to come out with revised timelines to work out a roadmap, say experts
UP’s economy is likely to end up with a size of around 330 billion dollars in 2024-2025, said Professor Yashvir Tyagi, former head of department, economics, Lucknow University. (Pic for representation)
UP’s economy is likely to end up with a size of around 330 billion dollars in 2024-2025, said Professor Yashvir Tyagi, former head of department, economics, Lucknow University. (Pic for representation)
Published on Dec 23, 2021 08:00 PM IST
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LUCKNOW The Uttar Pradesh government has still not been able to appoint a consultant to work out a roadmap to make the state a trillion-dollar economy. After the task began in 2018, it floated international bids on June 19, 2019 to appoint a consultant and subsequently cancelled them on March 22, 2021, saying fresh bids will be issued soon.

Nine months on, the state government has not been able to come out with fresh bids to appoint a consultant.

“We have had a meeting at the chief secretary’s level. Fresh bids to appoint a consultant will be floated soon,” said a senior officer of state government.

As two precious years of the five-year (2020-2025) timeline have already passed, the state government would have to come out with revised timelines to work out a roadmap to take UP’s GSDP to trillion dollars.

“The target of making UP a trillion-dollar economy in five years (2020-2025) was too ambitious. Now, precious time has been lost in the bidding process. Revision of timeline will be required. Looking at the current growth trends in the state’s economy, this target can be achieved in about a decade from now,” said Professor Yashvir Tyagi, former head of department, economics, Lucknow University.

Asked about UP’s economy by the end of the 2020-2025 timeline, Tyagi said: “As per my calculation, UP’s economy is likely to end up with a size of around 330 billion dollars in 2024-2025, taking into account the current size of GSDP and prevailing rupee-dollar exchange rate. It will be better if the state government chalks out a long term plan for sustainable development.”

Prime Minister Narendra Modi had mooted the idea of making UP a trillion- dollar economy while inaugurating the UP Investors’ Summit in Lucknow on February 21, 2018. “Can Maharashtra and Uttar Pradesh compete with each other to become a trillion-dollar economy? Will UP government compete with other states? More the competition more will be the investment. This will result in creation of more jobs and strengthen the concept of cooperative federalism,” said Modi while inaugurating the summit.

The PM’s observations had set the ball rolling for ‘trillion-dollar economy’ and the state government began holding discussions at various levels to work out a road map for its implementation. The Indian Institute of Management, Lucknow organised a programme ‘Manthan’, to impart lessons on good governance to all ministers and senior officers on September 8, 2019.

Later, more learning lessons were organised at the chief minister’s residence.

Subsequently, a decision to appoint a consultant to work out a roadmap to make the state a trillion-dollar economy was taken. The state government floated the bids on June 19, 2020. Following suggestions from bidders, a revised Request for Proposal (RFP) was provided with revised timelines and October 9, 2020 was set as the last date for submission of bids. The consultant to be selected was expected to work out a roadmap to make the state a trillion-dollar economy in a period of five years from 2020 to 2025.

After opening of financial bids and zeroing down on selection of a bidder as consultant, the state government decided to cancel the bids vide notice dated March 22, 2021.

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  • ABOUT THE AUTHOR

    Umesh Raghuvanshi is a journalist with over three decade experience. He covers politics, finance, environment and social issues. He has covered all assembly and parliament elections in Uttar Pradesh since 1984.

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