‘UP will need annual growth of 16% tobecome $6 trillion economy by 2047’

Lucknow: To become a USD 1 trillion economy by 2030, a USD 2 trillion economy by 2036 and a USD 6 trillion economy by 2047, Uttar Pradesh will need an annual average growth rate of around 16%.The state's current economy is approximately USD 356 billion, with a contribution of more than 9% to the country's GDP.The data was discussed in a meeting chaired by chief minister Yogi Adityanath to review the draft vision document for Viksit UP-2047."Viksit UP @2047 is a campaign for comprehensive transformation, in which equal importance has been given to social justice, inclusivity and improvement in quality of life along with economic progress. This vision should become an effective document of the state's development journey and secure UP a leading position in the goal of Viksit Bharat," the CM said.Identifying ‘Arthashakti, Janashakti and Jeevanshakti' as the three pillars for a Viksit UP, the CM said that there is a need to strengthen agriculture, industry, services, infrastructure, social sector and good governance in an integrated manner. He said that for effective implementation of the vision document, there is a need for regular review as the document should not be static but rather a dynamic and action-oriented guide.Highlighting the need for sector-based planning, the CM said balanced and high-productivity-based growth should be ensured in agriculture, industry and service sectors. In agriculture and allied sectors, smart agriculture, value-chain-based models, export-oriented production and digital platforms should be promoted.Calling animal husbandry and fisheries a strong foundation of the rural economy, the CM said that their scientific development, processing and market linkages should be strengthened.Discussing industrial development, the CM said that UP should be developed as a technology-based, export-oriented and globally competitive manufacturing hub. The contribution of MSMEs to the state's manufacturing GVA is approximately 46%.Pushing for planned expansion of the service sector and digital economy, the CM said there needs to be rapid expansion in IT, ITES, artificial intelligence, tourism and innovation-based sectors."The vision document should be made comprehensive and participatory by analysing and incorporating more than 98 lakh public suggestions received from across the state, along with the views of experts, industry organisations and other stakeholders. It should be practical, result-oriented and time-bound, presenting a solid foundation for making the state a developed state by 2047. It should be divided into sector-wise missions, with clear targets for 2030, 2036 and 2047, and implementable action plans," the CM said.He directed all departments to prepare department-wise and inter-sectoral action plans with quarterly and annual targets. District Vision-2047 documents are also to be prepared in line with local needs and resources. The CM added that a list of major projects should be prepared and their continuous monitoring ensured.