Uttar Pradesh has achieved a significant economic milestone by becoming India’s second-largest economy, surpassing key states. This accomplishment marks a commendable stride towards Chief Minister Yogi Adityanath’s ambitious goal of reaching the $1 trillion mark by 2027.
Uttar Pradesh 2nd Largest Economy In India
Why In News
- Uttar Pradesh has achieved a significant economic milestone by becoming India’s second-largest economy, surpassing key states.
- This accomplishment marks a commendable stride towards Chief Minister Yogi Adityanath’s ambitious goal of reaching the $1 trillion mark by 2027.
All You Need To Know
- According to a report from the prominent online blogging platform soic.in or SOIC Finance, which meticulously tracked investments and the stock market, Uttar Pradesh then claimed the second-largest share in the country’s GDP after Maharashtra.
- Uttar Pradesh commanded a substantial 9.2% share of the nation’s GDP, elevating it from its previous third-place standing. The state has outpaced economic contributors such as Tamil Nadu (9.1%), Gujarat (8.2%), and West Bengal (7.5%). Furthermore, it has surged past Karnataka (6.2%), Rajasthan (5.5%), Andhra Pradesh (4.9%), and Madhya Pradesh (4.6%).
- A government spokesperson reportedly noted the remarkable reduction of organized crime to zero and the rapid development in the industrial sector.
- Uttar Pradesh has also climbed from the 14th to the second position in the ‘Ease of Doing Business’ rankings.
- The spokesperson told, “Due to improvements in law and order, connectivity, and infrastructure, the state has received investment proposals of over Rs 40 lakh crore through GIS 2023, likely to be implemented soon, creating more than one crore employment opportunities.”
- Presently, the state is exporting goods worth nearly Rs 2 lakh crore, and the loan-deposit ratio of banks has increased from 42-43% to 56%, with plans to further elevate it to 60%.
- Uttar Pradesh has transitioned into a revenue surplus state, with 56% of its population employed and the establishment of around 96 lakh MSMEs, reportedly.
- The spokesperson further claimed, “CM Yogi has placed UP, once considered a BIMARU state, at the forefront in the race for development.
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