Even before swearing-in, the government-elect of Uttar Pradesh under the leadership of Yogi Adityanath has begun work on a plan to make the state a trillion-dollar economy in five years. This implies that the consultant that the state government is planning to employ for the purpose has to prepare a roadmap to boost the Uttar Pradesh economy by nearly five times.
Experts say this will require a “Bhagirath prayas“, the Hindu analogy for a Herculean effort. According to Hindu beliefs, saint Bhagiratha brought the Ganga from the heavens to the earth by extreme penance.
The fact that the trillion-dollar economy plan is very ambitious and will require raising Uttar Pradesh’s current growth rate exponentially has not escaped officials and experts.
The RFP floated for bidders states: “… in 2018-19, the gross state domestic product (GSDP) has already touched Rs 15.80 lakh crore ($230 billion) with a rich growth rate of 7 per cent over the previous year. However, it would be a challenging task to boost the size of the GSDP by nearly five times to reach the target of one trillion dollars in five years (2022-27), discounting for dollar fluctuations and global trends. It enhances the challenge and would require sustained and aggressive efforts at the state level.”
The Uttar Pradesh government released a Request for Proposal (RFP) document for bidders yesterday. “Interested bidders can submit their e-bids on e-tender portal till 14 April and the pre-bid meeting is scheduled for 22 March,” a state bureaucrat said. The technical bids will open on 18 April.
Close on the heels of sharing his dream to make India a $ 5 trillion economy, Prime Minister Narendra Modi had said at Uttar Pradesh Investors’ Summit 2018, “Can Maharashtra and Uttar Pradesh compete with each other to become a trillion-dollar economy? Will the Uttar Pradesh government compete with other states? More the competition, more will be the investment.”
The Yogi Adityanath government of the period 2017-22 had initiated the process to appoint a consultant in June 2020, but the appointment could not be completed by the end of the term. Since then, the red tape involved issuing an RFP, its revision, floating of bids, their amendment and subsequent cancellation. There were concerns that the 2020-2025 timeline to make Uttar Pradesh a trillion-dollar economy may be revised too.
The Yogi government is now planning to meet its target in the next five years, that is, by 2027.