Yogi to soon review progress towards making the state a trillion-dollar economy
Regular review of the state’s progress on the economic front is going on continuously at various levels including the Chief Secretary level. There are indications that Chief Minister Yogi Adityanath will also review soon.
Lucknow: The Uttar Pradesh government, which is facing the challenge of further boosting the GSDP, will soon review the progress in achieving the goal of making the state a trillion-dollar economy.
Regular review of the state’s progress on the economic front is going on continuously at various levels including the Chief Secretary level. There are indications that Chief Minister Yogi Adityanath will also review soon.
State Planning Department Secretary Alok Kumar said, “Chief Minister Yogi Adityanath will soon review the progress made in achieving the goal of making the state a trillion dollar economy.”
The Uttar Pradesh government had signed a Memorandum of Understanding (MoU) with Deloitte India on August 5, 2022 and Deloitte was appointed as a consultant to prepare a roadmap for the development of the state.
This will be the first review of progress at the Chief Minister level. The GSDP of Uttar Pradesh has now increased from ₹19.74 lakh crore in 2021-2022 to ₹22.57 lakh crore in 2022-2023. GSDP for 2023-2024 is estimated at ₹24.39 lakh crore. Considering the exchange rate of approximately ₹80.4 for one US dollar, UP’s GSDP needs to grow at 28.92 per cent per annum over the next five years to enable the state to become a trillion-dollar economy. . The current size of GSDP (2022-2023) is approximately US$280.7 billion.
“It is clear that the state economy has not yet registered the required pace of GSDP growth. It is expected that the massive impetus being given to infrastructure development by organizing the UP Global Investors Summit-2023 will gradually be reflected in higher levels of GSDP growth in the coming years,” said former principal Professor Yashveer Tyagi. . Department of Economics, Lucknow University.
