“UP has recorded impressive economic growth during the course of past few years, and if thrust is given on creating technology platform for growth and development of SMEs, UP can create about 80 lakh new jobs”, the Assocham pre-election agenda noted, which has now been submitted to leaders of major political parties.
The State holds significant potential to become a frontrunner if it carries on with the momentum and is able to attain double digit growth during next five years, it said.
“UP’s contribution to India’s economy had declined from 8.78 per cent in 2004-05 to 7.97 per cent in 2011-12, but thereafter, it picked up gradually to reach 8.16 per cent in 2014-15,” it said.
“Assocham Special Task Force on Uttar Pradesh has formulated a ‘Sustainable Action Plan,’ to achieve double digit growth in the State in the next five years to help UP enter the ‘high income club of States’,” said the Chamber’s Secretary General DS Rawat.
UP should aim to sustain current level of workforce participation rate of about 33 per cent for working age group of 15-30 years. About 1.40 crore people are already a part of the workforce, it noted.
Though UP attracted outstanding investments worth about Rs 9 lakh crore, registering compounded annual growth rate (CAGR) of over 23 per cent during the nine-year period between 2006-07 and 2015-16, ensuring effective implementation should be the key priority of the new State government.
Agriculture and allied activities contribute about 13 per cent to India’s agriculture sector and 22 per cent to UP’s economy, besides it also employs almost 67 per cent of the State’s total workforce.
Identifying potential areas for setting up special economic zones (SEZs), ensuring single window clearance facilities, and technological modernisation are a few other suggestions listed by Assocham.
The new government in UP, to be formed in March this year, should also take major steps in fixing accountability of the State government machinery by infusing transparency in working, ensuring social equality, timely and effective implementation of various schemes, promoting rule of law, doing away with corruption, immediate establishment of strong Lokayukta, carrying out police reforms and carry out other such initiatives to promote good governance across the State.
Source: Economic Times