Uttar Pradesh aims for $1 trillion economy by 2029

Uttar Pradesh is undergoing significant economic transformation under Chief Minister Yogi Adityanath. When he took office in 2017, the state was labeled a 'BIMARU' state, which means economically backward. Now, after eight years, the state aims to become a trillion-dollar economy by 2029. The Gross State Domestic Product (GSDP) has more than doubled from ₹12.75 lakh crore in 2016-2017. It is expected to reach ₹27.50 lakh crore by March 31, 2025. The state government aims for an annual growth rate of 11.85 percent, targeting a GSDP of ₹30.77 lakh crore in the next fiscal year. The push for economic growth started in 2018 during the UP Investors Summit, where Prime Minister Narendra Modi encouraged Uttar Pradesh to attract more investments. Since then, multiple groundbreaking ceremonies have taken place to implement significant investment proposals. The state has received investment proposals totaling ₹45 lakh crore, with over ₹15 lakh crore already being put into action. Recently, efforts to increase the credit deposit (CD) ratio have also been prioritized. This ratio has risen from 46 percent in 2017 to 60.7 percent in 2024. The government aims to increase it to 67-70 percent by 2026. Performance evaluations for top civil servants will now include how well they attract investment and create jobs. Uttar Pradesh's per capita income has also seen growth, rising from ₹52,671 in 2016-2017 to ₹93,514 in 2023-2024. The government has pledged to maintain a corruption-free environment, taking action against any misconduct in investment processes. A recent inquiry was launched against Invest UP CEO Abhishek Prakash following allegations of corruption.