Uttar Pradesh Chief Minister Yogi Adityanath on Friday claimed that UP has become the growth engine of the country’s development as the second-largest economy.
“Due to the planned efforts over the last seven years, Uttar Pradesh’s economy is in the time best condition today. The state’s total GDP rose from Rs 16.45 lakh crore in 2021-22 to over Rs 25.48 lakh crore in 2023-24. This year, our GSDP target is Rs 32 lakh crore, which we can achieve with everyone’s cooperation. In these seven years, both GDP and per capita income have more than doubled,” he claimed.
CM Yogi held an important meeting on Friday to discuss ongoing efforts, results achieved so far, and future policies aimed at transforming the state into a trillion-dollar economy.
The meeting was attended by various ministers, senior government officials, advisers, and experts, during which the Chief Minister reviewed progress across all ten sectors.
Deloitte India, the consulting agency, provided detailed sector-wise insights into the current economic environment of the state, including anticipated future outcomes and industry expectations.
The CM said, “Our efforts for sector-wise development are yielding unexpected results. Growth has surpassed the targets set for Gross Value Added (GVA) across various sectors for the financial year 2023-24. The estimated GVA for agriculture and allied sectors is 5.98 lakh crore compared to the target of 5.85 lakh crore; for manufacturing, it stands at 2.79 lakh crore against a target of 2.48 lakh crore. Besides, an increase of 129% has been recorded for the estimated GVA of transport, storage, and communication. The growth rate of trade, hotels, transport, and communication services related to broadcasting has also risen.”
He noted that a similar situation exists in other sectors as well. Overall, in 2023-24, the gross value added is estimated at 23.24 lakh crore, compared to the targeted GSVA of 23 lakh crore for the state. This reflects an improved condition of the economy.
The CM said that the contribution of all departments is crucial for achieving the $1 trillion target. This ambitious goal is reflected in last year’s report card, which highlights the proactive efforts of the departments. While our policy and planning are on the right track, we need to accelerate our pace to meet this significant target. Regular monitoring is essential; therefore, a nodal officer should be appointed in each department. The nodal officer will conduct weekly review meetings, with fortnightly reviews at the Principal Secretary level and monthly reviews at the departmental minister level.
“Besides accurate data collection is essential for success. It is important to establish communication and coordination with the Ministry of Statistics and Programme Implementation (MoSPI) to leverage their expertise. We should organise workshops and training sessions for statistical officers within each department to ensure accurate assessments. The higher the quality of our data, the more effectively we can work toward our goals,” he said.
In 2023-24, the state recorded a Compound Annual Growth Rate (CAGR) of approximately 16%, which is promising. “Our target for the current year is 25%, and all departments must intensify their efforts to achieve this goal. Our objectives are clear, and it will require collaborative action to implement effective policies and strategies,” he added.
“Significant efforts are needed to double the growth rate of grain, fruit, and vegetable production. Initiatives like ‘per block one crop’ should be promoted within the horticulture sector. We must train farmers, provide necessary resources, and encourage them to embrace innovative practices,” the CM said.
He said that the three principles of Reform, Perform, and Transform have yielded excellent results in the secondary sector of the economy. The rapid growth of the manufacturing sector is promising. To meet future demands, we must intensify our efforts to expand the land bank, implement policy reforms, and enhance the ease of doing business. Many investors are eager to invest in UP, and we are receiving numerous proposals for textile parks, solar parks, and recreational parks. We should seize this favourable opportunity.