Plan Ready to Make Uttar Pradesh One Trillion-Dollar Economy
- 07 Nov 2022
- 3 min read
Why In News?
On November 6, 2022, the proposal to make the state a one trillion dollar economy was presented by the Uttar Pradesh government to the state's Chief Secretary Durga Shankar Mishra, after which the proposal will be placed in the cabinet soon.
- To make the state a one trillion dollar economy, the government will spend an amount of Rs 40 lakh crore by 2027, under which this amount will be spent on infrastructure, health, judicial system, education, heavy industries etc.
- According to the government, to achieve a one trillion-dollar economy, the annual growth rate will have to be increased from 30 to 35 percent and the investment of GSDP in the state will have to be increased from 43 to 47 percent every year. Apart from this, the target of manufacturing sector will have to be increased to 45 percent of the present, due to which more and more units will be set up in the state, along with employment will also increase and the economy of the state will be strengthened.
- To woo the investors in the state, a blueprint investment policy has been prepared. It emphasizes infrastructure, manufacturing, service and dividing the new economy into different phases. The infrastructure is divided into two parts, hard and soft. Hard infrastructure includes power and energy along with logistics, while soft infrastructure includes regulatory, judicial system, education, health. Apart from this, tourism, education and health have been included in the service.
- Under the soft infrastructure, the state government will have to spend about Rs 2.1 lakh crore between the year 2022 to 2027 for modern medical system in the entire state, in which 24 lakh bed hospital will be constructed. For this, about 4.35 lakh doctors and 17 lakh nurses will be recruited.
- Under the hard infrastructure, 1092 judges will be appointed in the subordinate courts. Apart from this, 90 new judges will be appointed to the High Court. Rs 13 lakh crore will be spent on electricity, Rs 25 lakh crore on roads and Rs 200 crore on judicial system in the state.