Uttar Pradesh: Chief Minister of Uttar Pradesh Yogi Adityanath, has decided to hire a consultant aiming to boost the state economy to achieve its $1 trillion economy target by 2025. This step will also boost the Prime Minister’s vision to make India a $5 trillion economy.
According to an Economic Times report, the UP government on Friday issued a Request For Proposal (RFP) document, which states that it would be a “Herculean task” to boost the state’s economy five times from a $0.23 trillion economy in 2018-19 and requires “giant steps” to achieve the milestone.
With the largest population in the country, UP plays a vital role in India’s target of $5 trillion economy. Currently, it has a growth rate of 7%. It would require to increase its investment, improve infrastructure and increase the growth rate substantially.
The task of the consultant would reportedly include carrying out a critical analysis of the micro and macroeconomic sectoral data of the state in all key sectors. They would also need to identify the key contributing factors to the growth of all the sectors in the last four years.
Besides, the consultant would make comparisons in the structural, institutional, and financial reforms carried out by top states and countries similar to Uttar Pradesh.
