LUCKNOW Uttar Pradesh government is likely to appoint a consultant by next week to work out a roadmap to boost the size of the state’s economy to one trillion dollars in next five years (2022-2027).
All the seven bidders, including Deloitte, BCG, Grant Thronton and Invest India, that submitted their e-bids for appointment as consultant have made their presentations before the high powered committee and there are indications that the process of appointment will be completed soon.
Those aware of the development confirmed that the process of appointment of a consultant is in final stages. The state government’s high powered committee, headed by chief secretary Durga Shankar Mishra, has viewed the presentations made by the seven companies and the companies that have qualified the technical round completed early this week.
The technical evaluation is being followed by the opening of financial bids soon.
The state government had invited e-bids by May 24 and the technical bids were opened on May 25, 2022. The presentations were made in two rounds with the last round taking place earlier this week.
“It’s good that the state government is earnest in selecting the consultant for the roadmap to boost the GSDP to one trillion dollars by 2027. However, it appears that this task is going to become more challenging due to prevailing economic conditions – sharp depreciation in the value of Indian Rupee via-a-vis the US Dollar, the high inflation rate and forecast of slowdown in the growth rate. The proposed roadmap will have to reckon with these factors,” said Professor Yashvir Tyagi, former head of department, economics, Lucknow University.
{{/usCountry}}“It’s good that the state government is earnest in selecting the consultant for the roadmap to boost the GSDP to one trillion dollars by 2027. However, it appears that this task is going to become more challenging due to prevailing economic conditions – sharp depreciation in the value of Indian Rupee via-a-vis the US Dollar, the high inflation rate and forecast of slowdown in the growth rate. The proposed roadmap will have to reckon with these factors,” said Professor Yashvir Tyagi, former head of department, economics, Lucknow University.
{{/usCountry}}This is, however, not the first time that the UP government will be completing the process of opening the financial bids for appointment of consultant. The state government had floated international bids for appointing a consultant on June 19, 2019 as well. After zeroing down on selection of consultant, it cancelled the e-bids on March 22, 2021 apparently for technical reasons.