Uttar Pradesh Beats Karnataka, Gujarat In Growth; Becomes India’s 2nd Biggest State In GDSP
This pandemic has made everyone believe that one can never predict what would happen next fraction of a second.
The unprecedented challenges have blown all the systems so far and the economies have a herculean task to rebound. While many struggled to survive while the economy contracted severely due to covid 19 pandemics. Uttar Pradesh becomes the second-largest state in the country secures Rs 19.48 lakh crore of Gross State Domestic Product (GSDP) surging ahead of even industrialized states like Gujarat and Tamil Nadu.
How it adjudged to be the best-performing state in the country?
Agriculture plays a critical role in the entire life of a given economy. The growth of the agricultural sector contributes to a marketable surplus.
We have believed this for decades, but per the economic experts, the upsurge in GSDP is an indicator of the resilience being shown by non-agriculture activities in the state.
CM Yogi Adityanath during the budget session revealed that the UP government was given the certificate by the centre for benefiting 2.37 crore farmers in the state under Kisan Samman Nidhi Yojana.
In February 2018, an investor summit was organized in which MoUs of Rs 4.28 lakh crore was inked and nearly Rs 3 lakh crore have started at the ground level. The exports from Uttar Pradesh also increased by 32% in the last two years.
MSME and Export Promotion Minister On the upsurge in GSDP
Back in August, in an update of global Macro Outlook 2020-21, Moody’s said “The economic outlook of emerging market countries is more challenging than in advanced economies. In our baseline projection, China, India and Indonesia will be the only G-20 emerging economies to post a strong enough pick up of real GDP in the second half of 2020 and full year 2021 to end next year above pre-coronavirus levels”
“Our state has been making rapid strides in industry and economy under the able leadership of Chief Minister Yogi Adityanath, who has ensured an industry-friendly eco-system in the state as a result of which UP had achieved the second position among all states in ease of doing business in a short span,” said MSME and export promotion minister Sidharth Nath Singh.