The continued success of UPGIS attracted the world’s attention towards the development of Uttar Pradesh.


The UP Global Investors Summit held in Lucknow, the capital of Uttar Pradesh, on February 12 last year was not taken seriously by non-BJP parties…Opposition parties had raised questions on its success. But the figures that have come out after one year of this event, show that organizing the conference has proved effective in the direction of economic health of Uttar Pradesh. In a short period of just one year, an estimated investment proposal of about Rs 10 lakh crore has come to Uttar Pradesh. Through which it is expected that about fourteen thousand schemes can be implemented in the state, through which about thirty-three and a half lakh jobs will be generated. The ground breaking ceremony i.e. GBC, which is going to be organized in the capital Lucknow on February 19, 2024, is being considered as a big effort in this direction. Government of Uttar Pradesh It is estimated that this event will be attended by three thousand participants, which will include industrialists, renowned companies, foreign investors, diplomats and other well-known people.

Industrialists and businessmen take the risk of investing their money in a state only when they have confidence in that state or its soil. This confidence comes because the law and order system of the state has become better. Uttar Pradesh once had an image as an anarchic state. But it goes without saying that the way the Yogi government has improved the law and order front, the rule of law has been established in the state. Anarchy and hooliganism are under control. The state was also once notorious for riots, but now Uttar Pradesh is far from communal riots. Needless to say, the state has been successful in providing a better environment for investors. There is no doubt that investors want to invest only where they are allowed to do business and production comfortably. Law and order in Uttar Pradesh under control during the second rule of Bharatiya Janata Party Is in. This is the reason why investors are no longer hesitant in coming to Uttar Pradesh, which was once among the sick states.

The second need of the investor is the improvement of infrastructure. In which availability of roads, electricity and water should be easy. Of course, electricity supply has been disrupted in rural areas of the state for the last few months. There is also the mentality of the employee system behind this. But it is also true that the issue of electricity has improved compared to the previous regime. Local administration and politics are also hindrances in making the infrastructure facilities comfortable at the basic level. Corruption has not been completely controlled at the local level. But it is also true that despite this the infrastructure of the state has improved. This is the reason why now big groups are coming forward with open hearts to invest in the state. For this reason, the state government claims that the industrialists gathering in the fourth ground breaking ceremony are going to make big investments in the state. of state government

If the figures are to be believed, Hiranandani Group along with Sify Technology, VALS Developers, STT Global and Jackson Ltd. are going to set up data centers across the state.

Similarly, vehicle manufacturing companies Ashok Leyland and Yamaha are also preparing to start their production centers at many places in Uttar Pradesh. In order to ensure that the power system of the state is in good condition and investors get ample electricity, the state government has invited companies from both private and public sectors in all three sources of energy, thermal, hydro power and solar energy. The state government claims that along with NTPC, Greenco Group, Torrent Power, ACME Group, JSW Energy PSP Six and TISCO are going to set up many types of energy projects in the state. M three M India, INGKA, The House of Abhinandan Lodha and Godrej Properties are preparing to change the residential scenario of the state, while huge investment is also coming in the state in arms manufacturing industry, software industry, hospitality etc. The state government has In the first term, UP Investors Summit was organized for the first time in the year 2018. In which investment worth about Rs 4.28 lakh crore was signed. After this, ground breaking programs were organized in July-2018 and July-2019. From which investment proposals worth about Rs 130 crore came. Through which 290 projects have been established in the state. Due to Corona, no investor conference was held for the next two years. But in the year 2022, the third ground-breaking ceremony took place, in which the state received investment proposals worth about eighty thousand crores.

Due to this, Uttar Pradesh has become the state with the second largest economy in the country in terms of gross domestic product. According to the latest report of SOIC.in and Credit Lyonnais Securities Asia, which monitors investing and stock market, Uttar Pradesh ranks second after Maharashtra in terms of share in India’s GDP. It should be remembered here that while Maharashtra is at the first position with a share of 15.7 percent in the country’s GDP, UP is at the second position with a share of 9.2 percent. As far as GST collection is concerned, the state achieved a revenue of Rs 1 lakh seven thousand 407 crore in the year 2022-23, which is expected to increase to Rs 1.5 lakh crore in 2023-24. GST registered traders of the state in describing the business situation of Uttar Pradesh The number may be favorable, which is the highest in the country. The state is also making rapid progress in terms of digital transactions. The situation is such that the number of digital transactions has increased three times in just one year. According to the Bankers Committee, last year there were 426.68 crore digital transactions in Uttar Pradesh, which has increased to 1174.32 crore this year.

Obviously, while the economic condition of the state is improving, the availability of internet in the state has become easy and the aware citizens of the state are taking advantage of it. The state is also gradually succeeding in disciplining its financial management. To understand this, there is a reduction in the fiscal deficit of the state which is only 2.86 percent of GSDP. The state’s revenue receipts in 2016-2017 were Rs 2 lakh 56 thousand 875 crore, which increased to Rs 4 lakh 15 thousand 820 crore in 2022-23. It is estimated that it may increase to Rs 5 lakh 70 thousand 865 crore in the year 2023-2024. The increasing economic condition of the state is also illustrated by the number of income tax returns filed in the state. Uttar Pradesh is the second state in the country in terms of income tax returns. In the year 2014, only 1.65 lakh income tax returns were filed in Uttar Pradesh, which will increase to 11.92 lakh in 2023. Not only this, the number of demat accounts has also increased in the state. In the year 2023, 1.26 lakh demat accounts have been opened in the state.

The state government is also getting maximum help from the central government. Its benefit has also been helpful in the economic development of the state. According to the data of the state government, the state received Rs 13 thousand 88 thousand crore from the Central Government for various social welfare programs and infrastructure development schemes. It is clear from these figures that the economic picture of the state is changing. Deendayal Upadhyay, the patriarch of Bharatiya Janata Party, had presented the concept of Antyodaya to wipe the tears of the last person and remove his pain. It is a coincidence that Deendayal Upadhyay was a son of the soil of Uttar Pradesh. The way the state government is working on the economic front, it is clear that it is trying hard to realize the vision of its patriarch on its own soil.

-Umesh Chaturvedi

(The author is a senior journalist and columnist)

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