PCS ParikshanUttar Pradesh Switch to Hindi
UP: Second Fastest Growing Economy
Why in News?
As per data of Ministry of Statistics and Programme Implementation, Uttar Pradesh (UP) has emerged as the second fastest-growing state in India in terms of Gross State Domestic Product (GSDP), with its growth rate accelerating from 5.5% to 8.9%.
- Tamil Nadu holds the top position with a GSDP growth rate of 11.19%. Small states like Arunachal Pradesh and Meghalaya have also posted significant growth rates of 9.66%.
Key Points About Economic State of UP
- Uttar Pradesh ranks as India's third-largest economy after Maharashtra and Tamil Nadu (NITI Aayog).
- UP has set an ambitious goal of becoming a $1 trillion economy by 2029.
- It has identified 10 key sectors critical to achieving this target, with a focus on law and order, agriculture, infrastructure, industrial development, social security, and more.
- In FY 2023–24, Uttar Pradesh's GSDP stood at ₹25.48 lakh crore, up from ₹22.58 lakh crore in the previous fiscal year.
- The state experienced a 23% increase in per capita income from FY 2016–17 to FY 2019–20.
- The agriculture sector's contribution to GSDP increased from 13.7% to 16.8% in FY 2023–24.
- Meanwhile, the secondary sector accounts for 23% of the GSDP, while the tertiary sector contributes 45%.
- Uttar Pradesh contributes 8% to India's national GDP.
