Agencies
TV Mohandas Pai
The writer is chairman, Aarin Capital Partners
When he took office in 2017, Uttar Pradesh Chief Minister Yogi Adityanath was faced with the daunting task of rescuing UP’s economy and creating more jobs. The forceful response to the state’s abysmal law and order situation and a ‘zero tolerance’ towards corruption set UP’s economy back on track.
Adityanath’s trajectory was based on boosting growth, generating employment, bolstering infrastructure and shoring up the economy against the Covid-19 pandemic. He also ensured a more transparent and time-bound system. UP has made strides — a jump of 12 positions to second in the last three years — in the Business Reform Action Plan ranking of states by GoI’s Department for Promotion of Industry and Internal Trade (DPIIT) on ‘ease of doing business’. UP’s state GDP — accounting for 8.7% of India’s GDP, second after Maharashtra — stood at Rs 12,88,700 crore in 2017, and has grown to Rs 17,05,593 crore in 2020-21.
According to the Centre for Monitoring Indian Economy (CMIE), UP’s unemployment rate now stands at 6.9%, one of the lowest in the country, down from above 18% in 2017. The gross enrolment rate in higher education in the 18-23 age group has gone up to the national average, and today UP has the largest number of students.
With the government planning to hire 1 lakh citizens for government jobs this year in an open, transparent manner, the total number of public recruitments over five-odd years has increased to 5 lakh. Mission Rozgar was launched in December with the aim of training and skilling people and generating employment for 50 lakh people by March 31, 2021, as a response to migrant crisis.
As per government data, more than 1 lakh women have been given government jobs over the last year, while 1.5 crore workers have been provided with MGNREGA employment. Startup and industrial units have provided about 5 lakh and 3 lakh jobs respectively, while more than 25 lakh have gained employment through the government’s ‘One District-One Product’ scheme. More than 50 lakh MSMEs have provided 1.8 lakh jobs, while more than 1.30 lakh teachers have been recruited.
On the investment front, UP has become one of the favourite investment destinations with the law and order situation now controlled. The UP Investor’s Summit in February 2018 attracted 1,045 intents, with investments worth Rs 4.28 lakh crore across sectors. In the last four years, more than Rs 3 lakh crore has been actually invested. Since March 2020, UP has received Rs 75,000 crore worth investment.
UP is also becoming a major manufacturing powerhouse. According to Department of Industrial Development and Research (DIDR) data, the 98 investment proposals worth ₹13,408.19 crore in the manufacturing sector include 10 worth Rs 4,250 crore from foreign investors, and 88 from domestic companies for setting up large manufacturing units that will provide employment to more than 22,000 people. The government has already provided land to 66 industrialists out of the 88 for setting up manufacturing units.
Infrastructure has been a key part of Adityanath’s agenda. His government has been executing projects like the Defence Industrial Corridor, the Purvanchal, Bundelkhand and Ganga Expressways, and the Noida greenfield airport. Eastern and western dedicated railway corridors will connect UP’s rail network and boost export and import.
In tourism, state government has now strategically branded Kumbh Mela as a branded property. To widen the horizon of this sector, the state has added Ayodhya, Kashi, Mathura and Vrindavan as part of its push for pilgrimage tourism.
Over the last few years, the administration has also worked to address the structural barriers to shared prosperity that poor and middle-class families have faced for decades — rising costs of healthcare and higher education, slow growth in incomes and jobs, high levels of inequality, a fragile, risky financial system, etc.
The considerable achievements of the past four years in office, and the work to reduce the negative impact of Covid-19, has enabled Adityanath to create a strong foundation for a better future.
Adityanath’s trajectory was based on boosting growth, generating employment, bolstering infrastructure and shoring up the economy against the Covid-19 pandemic. He also ensured a more transparent and time-bound system. UP has made strides — a jump of 12 positions to second in the last three years — in the Business Reform Action Plan ranking of states by GoI’s Department for Promotion of Industry and Internal Trade (DPIIT) on ‘ease of doing business’. UP’s state GDP — accounting for 8.7% of India’s GDP, second after Maharashtra — stood at Rs 12,88,700 crore in 2017, and has grown to Rs 17,05,593 crore in 2020-21.
According to the Centre for Monitoring Indian Economy (CMIE), UP’s unemployment rate now stands at 6.9%, one of the lowest in the country, down from above 18% in 2017. The gross enrolment rate in higher education in the 18-23 age group has gone up to the national average, and today UP has the largest number of students.
With the government planning to hire 1 lakh citizens for government jobs this year in an open, transparent manner, the total number of public recruitments over five-odd years has increased to 5 lakh. Mission Rozgar was launched in December with the aim of training and skilling people and generating employment for 50 lakh people by March 31, 2021, as a response to migrant crisis.
As per government data, more than 1 lakh women have been given government jobs over the last year, while 1.5 crore workers have been provided with MGNREGA employment. Startup and industrial units have provided about 5 lakh and 3 lakh jobs respectively, while more than 25 lakh have gained employment through the government’s ‘One District-One Product’ scheme. More than 50 lakh MSMEs have provided 1.8 lakh jobs, while more than 1.30 lakh teachers have been recruited.
On the investment front, UP has become one of the favourite investment destinations with the law and order situation now controlled. The UP Investor’s Summit in February 2018 attracted 1,045 intents, with investments worth Rs 4.28 lakh crore across sectors. In the last four years, more than Rs 3 lakh crore has been actually invested. Since March 2020, UP has received Rs 75,000 crore worth investment.
UP is also becoming a major manufacturing powerhouse. According to Department of Industrial Development and Research (DIDR) data, the 98 investment proposals worth ₹13,408.19 crore in the manufacturing sector include 10 worth Rs 4,250 crore from foreign investors, and 88 from domestic companies for setting up large manufacturing units that will provide employment to more than 22,000 people. The government has already provided land to 66 industrialists out of the 88 for setting up manufacturing units.
Infrastructure has been a key part of Adityanath’s agenda. His government has been executing projects like the Defence Industrial Corridor, the Purvanchal, Bundelkhand and Ganga Expressways, and the Noida greenfield airport. Eastern and western dedicated railway corridors will connect UP’s rail network and boost export and import.
In tourism, state government has now strategically branded Kumbh Mela as a branded property. To widen the horizon of this sector, the state has added Ayodhya, Kashi, Mathura and Vrindavan as part of its push for pilgrimage tourism.
Over the last few years, the administration has also worked to address the structural barriers to shared prosperity that poor and middle-class families have faced for decades — rising costs of healthcare and higher education, slow growth in incomes and jobs, high levels of inequality, a fragile, risky financial system, etc.
The considerable achievements of the past four years in office, and the work to reduce the negative impact of Covid-19, has enabled Adityanath to create a strong foundation for a better future.
(Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of www.economictimes.com.)
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