Uttar Pradesh’s economy has grown to be the nation’s second largest.

Since India’s independence, several states have also been referred to as “Bimarut States,” which denotes underperforming states. The states are called Rajasthan, Madhya Pradesh, Uttar Pradesh, and so on. Since Uttar Pradesh holds 80 seats in the Loksabha, these states are crucial politically. Uttar Pradesh is home to almost 20 crore people. The largest state in terms of population is this one. As a result, the per capita income is low in this place.

There has been news that Uttar Pradesh is now the second state to contribute to India’s economy. Tamil Nadu is crossed by UP. When it came to GDP, Tamil Nadu was the second-largest state. However, UP has now passed Tamil Nadu. Uttar Pradesh makes up about 9.2% of the GDP of India.

India’s current GDP is more than 3.7 trillion dollars. It is likely that India’s GDP would surpass $4 trillion in the 2023–2024 fiscal years. Maharashtra provides approximately 15% of India’s GDP overall. Maharashtra has a very large GDP.

Let’s understand the top GDP share states are as follows:

The graph makes it evident that Maharashtra and Uttar Pradesh provide one-fifth of the nation’s GDP.

UP is growing at a rapid pace. The explanation given here is that the Uttar Pradesh administration is actively working to raise GDP. The current chief minister of Uttar Pradesh, Yogi Adityanath, initiated the global investment summit in 2018 and will repeat it in February of 2023. The UP saw an increase in investment as a result of the activities. It is among the factors contributing to the UP’s GDP growth.

In 2018, the investor summit made a modest debut with investment proposals totaling Rs. 4.75 lakh crore. There were attempts to shift the state’s image from one of regression to development.

In an interview, the chief minister stated that between 75 and 80 percent of the memorandums of understanding inked had been successfully implemented, resulting in the creation of 5 lakh new jobs in the state.

The state currently exports items valued close to Rs. 2 lakh crore. Bank loan-to-deposit ratios have risen from 42–43 percent to 56 percent, with efforts underway to reach 60%.

Today, Uttar Pradesh has a surplus of revenue due to the employment rate of 56% of its workforce. In addition, almost 96 lakh MSME establishments have been formed.

Under the guidance of Chief Minister Yogi Adityanath, Uttar Pradesh has also moved up the ‘Ease of Doing Business’ rankings, moving from 14th to 2nd place.

Uttar Pradesh, which was formerly thought of as a BIMARU state, is now leading the way in the battle for growth thanks to CM Yogi. These successes will not only position UP as the nation’s growth engine, but they will also help the state reach its $1 trillion economic target.

From 1947 to 2017, the economy of Uttar Pradesh ranked sixth or seventh in the nation. Seventy years with no work done…But we have effectively assisted the Uttar Pradesh economy in rising to the second rank in just 5 years, UP Chief Minister Yogi Adityanath told.

Akhilesh Yadav, the chief of the Samajwadi Party, asserted in December of last year that Uttar Pradesh’s economy is getting worse rather than better. But records are not reflecting the words.

Conclusion:

In short UP is on the path of development. UP has been called BIMARU sate now it is the 2^nd largest state in terms of GDP. This makes clear that honest efforts can win one day. State is very much contributing in the growth path of India.