Uttar Pradesh Becomes Second Largest Economy in India – Know How..

Uttar Pradesh Becomes Second Largest Economy in India

In a big booster for the government led by Chief Minister Yogi Adityanath, Uttar Pradesh has emerged as the second-largest economy of India. Highlighting the efforts of Chief Minister Yogi Adityanath towards making UP the leading state in terms of economy. A report by prominent online platform soic.in, which keeps track of investments and the stock market has revealed that UP is the second largest state in the GDP share after Maharashtra.

The report is in the form of creative graphics and is based on Sensex and CSLA (Credit Lyonnais Securities Asia). According to official statistics, UP was third in GDP share.

Report Data:

Uttar Pradesh Becomes Second Largest Economy in India

As per this, while Maharashtra leads with a GDP share of 15.7 percent of the country’s total GDP, Uttar Pradesh follows closely with a GDP share of 9.2 percent. In the context of GDP share, Uttar Pradesh has outpaced states such as Tamil Nadu (9.1 percent), Gujarat (8.2 percent), and West Bengal (7.5 percent). 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.

How Uttar Pradesh became the second largest economy in India?

Additionally, 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, which are likely to be implemented on the ground soon. This will create more than one crore employment opportunities in the state.

The investor summit in its first avatar in 2018 saw a modest beginning with investment proposals worth Rs 4.75 lakh crore. Attempts to change the state’s perception from being backward to a developing one were being made. The CM in his interview said 75% to 80% of the MoUs signed have been successfully implemented upon, thus, creating 5 lakh new job opportunities in the state.

Currently, the state is exporting goods worth nearly Rs 2 lakh crore. The loan-deposit ratio of banks has increased from 42-43 percent to 56 percent, while work is being done to increase it to 60%. Uttar Pradesh is now a revenue surplus state, with 56 percent of its population employed.

Moreover, around 96 lakh MSME units have been established. Under the leadership of Chief Minister Yogi Adityanath, UP has also jumped from the 14th to the second position in the ‘Ease of Doing Business’ rankings.

CM Yogi has placed Uttar Pradesh, once considered a BIMARU state, at the forefront in the race for development. These achievements will not only make UP the growth engine of the country but also contribute to achieving the goal of making the state a $1 trillion economy.

“UP’s economy from 1947-to 2017 was at 6th, 7th spot (in the country). No work done in 70 years…But in merely 5 years, we have successfully helped the UP economy reach the 2nd spot, ” ANI quoted UP CM Yogi Adityanath. In December last year, Samajwadi Party chief Akhilesh Yadav claimed that UP’s economy is worsening instead of improving.

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