Uttar Pradesh chief minister Yogi Adityanath has asserted the state will become a $trillion economy by 2029.
“By 2029, UP will achieve the $trillion economy milestone and emerge as the largest economy in the country,” Yogi said on the floor of the state legislature yesterday in the ongoing Budget Session.
He said UP’s economy more than doubled from about Rs 12 trillion in 2017-18 to touch the Rs 27.5 trillion mark.
As such, UP needs to quadruple its economy by 2029 to reach the ambitious $trillion economy mark in the next four years.
“UP is rapidly progressing towards becoming India’s largest economy,” he underlined.
“Those people who decline to acknowledge India’s progress as a developed nation also question UP’s economic growth,” he said, flaying the opposition.
He noted India has emerged as a major global economy, which stifled the personal agendas of some people and parties.
“India now occupies the spot of the world’s 5th largest economy, and is poised to become a $5 trillion economy by 2027,” the CM added.
Highlighting the success of the UP Global Investors Summit 2023, Yogi said the flagship event fetched investment proposals of Rs 40 trillion, while projects worth Rs 15 trillion have already materialised.
Some of these projects have even started commercial production. This investment is expected to generate employment opportunities for 6 million youth, he claimed.
Emphasising the state’s financial transformation, he pointed out UP’s Credit Deposit (CD) ratio, which once stood at 44 percent, has today breached 60 percent, indicating capital formation.
Meanwhile, he said the Prayagraj Maha Kumbh 2025 is expected to log a tourist inflow of over 650 million.
“Maha Kumbh alone is estimated to contribute Rs 3 trillion to the state’s economy, further accelerating UP’s growth,” he added.