Uttar Pradesh will be the largest economy of the country by 2029 worth one trillion dollars, said Chief Minister Yogi Adityanath on Friday.
He was speaking in the Vidhan Sabha as part of the budget session. He took a dig at the opposition, which he said was interested in its personal agenda and did not consider the growth of the country as a good thing.
मैं आश्वस्त करता हूं...
— Yogi Adityanath (@myogiadityanath) February 21, 2025
वर्ष 2029 में उत्तर प्रदेश $1 ट्रिलियन की इकोनॉमी भी बनेगा और देश की सबसे बड़ी अर्थव्यवस्था भी बनेगा... pic.twitter.com/g4rAyP8Gh6
The chief minister’s target was the previous government of Samajwadi Party. Laying out figures, he said that when the Bharatiya Janata Party came to power in 2014, the size of the economy was only Rs 12 lakh crore, and it is poised to become Rs 27.5 lakh crore by the end of this financial year.
The growth, he said, was attributed to 10 major sectors: industrial development, agriculture, social security, urban development, revenue collection, education, health, tourism and service sector. Each of these was being reviewed monthly and the chief minister conducted quarterly reviews.
At the Global Investors Summit in 2023, proposals worth Rs 40 lakh crore had been received and of these, projects worth Rs 15 lakh crore were already on the ground. The employment potential of these were 60 lakh opportunities.
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He was also critical of the previous government’s neglect of the MSME sector, which has been revived through the One District One Product (ODOP) scheme. Adityanath also touched on the government’s COVID response. He said that 40 lakh migrant workers had returned during the pandemic and that their skills were mapped and they were linked to MSMEs.
Another measure he highlighted was the launch of the CM Yuva Udyami Yojana, launched on the occasion of Uttar Pradesh Foundation Day on January 24. Under the scheme, no interest is to be charged on loans upto Rs 5 lakh extended to entrepreneurs. In the second phase, such entrepreneurs could get interest-free loans of Rs 10 lakh. So far 96 lakh applications have been received under the scheme.
While the chief minister might be optimistic about Uttar Pradesh’s emergence as the country’s largest economy, it faces stiff competition from Maharashtra which currently occupies that position.
