Lucknow: The Uttar Pradesh government, which continues to face the challenge of giving a further boost to the GSDP, will soon review the progress in achieving the objective of making the state a trillion-dollar economy.
A regular review of the state’s progress on the economic front is consistently going on at various levels, including the chief secretary level. There are indications that chief minister Yogi Adityanath will also soon hold a review.
“Chief minister Yogi Adityanath will soon review the progress made to achieve the objective of making the state a trillion-dollar economy,” said secretary, state planning department Alok Kumar.
The Uttar Pradesh government had signed a Memorandum of Understanding (MoU) with Deloitte India on August 5, 2022 and the latter was appointed as a consultant to work out a roadmap for the state’s growth.
This will be first review of progress at the chief minister’s level. Uttar Pradesh’s GSDP has now jumped from ₹19.74 lakh crore in 2021-2022 to ₹22.57 lakh crore in 2022-2023. Projections for the GSDP for 2023-2024 are estimated to be ₹24.39 lakh crore. UP’s GSDP needs to grow at 28.92 percent per annum in the next five years to enable the state to become a trillion-dollar economy if an exchange rate of about ₹80.4 to a US Dollar is considered. The present size of the GSDP (2022-2023) comes to nearly 280.7 billion USD.
“It is obvious that the state’s economy is yet to register the required pace of GSDP growth. It is expected that the a massive push to the development of infrastructure investment being given by holding the UP Global Investors Summit-2023 will gradually reflect in the higher level of GSDP growth in the coming years,” said Professor Yashvir Tyagi, former head of the department of economics, Lucknow University.
{{/usCountry}}“It is obvious that the state’s economy is yet to register the required pace of GSDP growth. It is expected that the a massive push to the development of infrastructure investment being given by holding the UP Global Investors Summit-2023 will gradually reflect in the higher level of GSDP growth in the coming years,” said Professor Yashvir Tyagi, former head of the department of economics, Lucknow University.
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