E-Paper
Uttar Pradesh’s trillion-dollar economy goal: From Modi’s vision to Yogi’s execution
The Uttar Pradesh government has worked out a roadmap to achieve the objective of making the state a trillion-dollar economy in five years (2027-28)
Six years after Prime Minister Narendra Modi gave the idea of making Uttar Pradesh a trillion-dollar economy, he has now asked other states to follow U.P. on this front.
“Can Maharashtra and Uttar Pradesh compete to become a trillion-dollar economy? Will the Uttar Pradesh government compete with other states? The more the competition, the more will be the investment. This will result in the creation of more jobs and strengthen the concept of cooperative federalism,” Modi had said at the Uttar Pradesh Investors Summit-2018 in Lucknow on February 21, 2018.
Since then, the Uttar Pradesh government has worked out a roadmap to achieve the objective of making the state a trillion-dollar economy in five years (2027-28). It has got feedback from departments on the roadmap and efforts are being made to inch closer to the goal. It is probably the outcome of the state government’s efforts that prime minister has asked other states to follow U.P.
“All Indians feel proud when they come to know that Uttar Pradesh has decided to become a trillion-dollar economy. I will request all the states to leave politics aside and learn a lesson or two from Uttar Pradesh. How many dollars economy will you make your state?” Modi asked at the groundbreaking ceremony 4.0 (GBC 4.0)here on Monday.
He launched nearly 14,000 projects involving investment of ₹10.11 lakh crore at GBC 4.0 held at Indira Gandhi Pratisthan here.
This is a quantum jump from the investment grounded at the three GBCs of the state held earlier.
The first one was held on July 29, 2018, to implement 81 projects involving investment of ₹61,847 crore to create two lakh job opportunities. The state government organised its second ground-breaking ceremony in July 2019 to implement 290 projects involving investment of ₹65,000 crore to create 2.6 lakh jobs. The third ground-breaking ceremony was organised on June 3, 2022, to implement 1406 projects worth ₹80,000 crore to create five lakh jobs.
The state government, in reply to a question in the state legislative assembly early this month, stated out of the Memorandums of Understanding (MoUs) of ₹4.28 lakh crore signed at the Uttar Pradesh Investors Summit-2018, nearly 1777 investment projects worth ₹2.09 lakh crore have been either implemented or are in different phases of implementation.
The investment proposals received by the state government have also witnessed a quantum jump since 2018. Senior officers of the state government said there has been consistent focus on reforms and nearly 25 sectoral policies have been worked out to attract investment. The Uttar Pradesh Global Investors Summit-2023, held here from February 10 to 12, 2023, received investment proposals of ₹33.50 lakh crore. The state government now claims that the investment continued to flow in after the UPGIS-2023 and the total investment proposals reached close to ₹10 lakh crore. The infrastructure and industrial development commissioner said more such GBCs will be organised in future to bring more investment proposals to the ground in U.P.
