In a landmark move to boost investment and economic growth, Uttar Pradesh Chief Minister Yogi Adityanath has introduced a new monitoring system that will hold District Magistrates (DMs) and Divisional Commissioners accountable for investment progress in their areas. Under this initiative, each officer’s Annual Confidential Report (ACR) will now include specific assessments of their efforts in promoting investment and facilitating loans in their area of work, with grading based on performance.

By incentivizing performance, the Yogi government seeks to create more employment opportunities and support statewide growth. Notably, UP will be the first state in India to implement such a comprehensive system. Giving information about this decision here on Friday, state Chief Secretary (CS) Manoj Kumar Singh, said that DMs and Commissioners will now be required to prepare reports detailing their efforts to attract investment in their respective areas. These reports will assess the steps taken to ensure the security, facilities, and conveniences for investors, promoting a better business environment.

Additionally, the evaluation will include timely land allotment, land subsidies, changes in land use, land clearance, and the establishment of a land bank for entrepreneurs, along with regular monitoring and updates.The new system aims to ensure that officials take their responsibilities seriously in bringing and encouraging investments within their districts, ultimately enhancing the ease of doing business in the state.

The CS further mentioned that DMs who excel in attracting investment will receive higher grades and special recognition. This will foster competition and accountability among officers. The performance of DMs and Commissioners will be assessed based on their efforts to increase investment in their districts during their tenure.

Reports will also include detailed accounts of the steps taken, investment initiatives, and improvements in the Credit Deposit (CD) ratio. This new system is set to be implemented within the next two to three weeks, enhancing officers accountability and encouraging faster development efforts in their areas. An increase in investment is expected to not only boost economic activity in the state but also create more job opportunities for the youth.

Mr Singh said the CD ratio of the state was 47 per cent 2017, while in the financial year 2023-24, it has registered a significant increase and touched the figure of 60.32 per cent. The Yogi government aims to achieve a CD ratio of 65 per cent by the end of the current financial year. This growth in the CD ratio indicates economic stability and a favorable investment climate in the state.

The CS pointed out that while districts like Sambhal, Amroha, Badaun, Rampur, Kasganj, Etah, and Moradabad boast the highest CD ratios in the state, others like Unnao, Balrampur, and Shravasti are lagging behind with low CD ratios. To address this disparity, the government plans to implement special initiatives aimed at boosting economic activities and improving the CD ratios in these underperforming districts.