In a landmark achievement for Chief Minister Yogi Adityanath’s administration, Uttar Pradesh has secured the position of the second-largest economy in India, signaling a remarkable economic transformation for the state.
Growth Trajectory
Highlighting the commendable efforts of Chief Minister Yogi Adityanath to elevate Uttar Pradesh to a leading economic position, a comprehensive report from the renowned online blogging platform soic.in, specializing in investment and stock market analysis, reveals that UP has now claimed the second-largest GDP share in the country, trailing only behind Maharashtra.
Statistical Insights
Based on Sensex and CSLA (Credit Lyonnais Securities Asia), the report, presented in visually appealing graphics, showcases Uttar Pradesh’s GDP share at an impressive 9.2 percent. This places the state in close competition with Maharashtra, which leads with a GDP share of 15.7 percent.
Surpassing Competitors
In the realm of GDP share, Uttar Pradesh has outpaced formidable states such as Tamil Nadu (9.1 percent), Gujarat (8.2 percent), and West Bengal (7.5 percent). Notably, states like Karnataka (6.2 percent), Rajasthan (5.5 percent), Andhra Pradesh (4.9 percent), and Madhya Pradesh (4.6 percent) are significantly behind Uttar Pradesh.
Holistic Development
Under Chief Minister Yogi Adityanath’s dynamic leadership spanning seven years, Uttar Pradesh has witnessed rapid progress across various sectors. The state has achieved a commendable feat in reducing organized crime to zero, while the industrial sector is experiencing substantial growth. Moreover, In a significant leap, UP has ascended from the 14th to the second position in the ‘Ease of Doing Business’ rankings.
Investment Inflow
Owing to improvements in law and order, connectivity, and infrastructure, Uttar Pradesh has garnered investment proposals exceeding Rs 40 lakh crore through GIS 2023. Besides, these proposals are poised to materialize, creating over one crore employment opportunities and positioning the state as an attractive destination for investors.
Economic Strength
Currently, Uttar Pradesh boasts an impressive export value of goods nearing Rs 2 lakh crore. The state’s banks have witnessed a notable increase in the loan-deposit ratio, soaring from 42-43 percent to a robust 56 percent, with ongoing efforts to raise it further to 60 percent.
Revenue Surplus and Employment Boost
Remarkably, Uttar Pradesh has transitioned into a revenue surplus state, with 56 percent of its population gainfully employed. The establishment of approximately 96 lakh MSME units further underscores the state’s economic vibrancy.
Vision for the Future
Chief Minister Yogi Adityanath’s strategic initiatives have propelled Uttar Pradesh from its historical ‘BIMARU’ status to the forefront of development. These achievements not only position UP as the growth engine of the country but also contribute significantly to the ambitious goal of making the state a $1 trillion economy. The transformative journey showcases Uttar Pradesh’s resilience and commitment to becoming a beacon of economic prosperity in India. (ANI)