Uttar Pradesh Aims for $1 Trillion Economy by 2027-28 with PPP Model

Chief Minister Yogi Adityanath’s Vision

The Uttar Pradesh government, led by Chief Minister Yogi Adityanath, is embracing the Public Private Partnership (PPP) model to achieve a $1 trillion economy by 2027-28. The state needs an overall investment of $1.3-1.5 trillion (Rs 105-120 lakh crore), with public investment expected to be between Rs 12-16 lakh crore and private investment ranging from Rs 93-108 lakh crore.

PPP Projects and Sectors

About Rs 2 lakh crore worth of PPP projects are either completed, ongoing, or set to begin. To expedite these efforts, the government is considering establishing a PPP cell within the PPP framework. These cells address the lack of institutional mechanisms and encourage collaboration between the public and private sectors for developing infrastructure projects. They also attract private investment in sectors such as transport, energy, healthcare, education, and tourism.

Economic Growth and Job Creation

The PPP cell helps create job opportunities and provides a centralised information hub for all PPP projects in the state. The government is promoting the PPP model in core sectors like agriculture, manufacturing, tourism, IT & ITES, education and skill development, energy, health, infrastructure, and urban development. These sectors have great growth potential with investment.

Investment Targets

The state has set an investment target of Rs 105 lakh crore to Rs 120 lakh crore from 2023-24 to 2027-28 to realise this vision. In 2022-23, Uttar Pradesh’s economy was valued at USD 279 billion. Chief Minister Yogi Adityanath has pledged to grow it to a one trillion dollar economy in the next five years, emphasizing rapid and inclusive development.