SCR Model: Since 1991, the country has kept a sharp eye on economic growth. India’s economic strength and large workforce was acknowledged globally, giving it a political edge in economic interdependent global architecture. Indulged in caste-based appeasement politics, the provincial leaders never thought of making states the driving wheels in the Indian drive for economic robustness. Instead, states were becoming the cause of increased debts.
The reason for this flaw was the economic negligence of political leaders and Uttar Pradesh was no exception. While there was industrialisation in the country, UP being the most populous state, never paid attention to develop industries as it was required to.
However, the current state government under Yogi Adityanath is continuously taking necessary steps to boost the state’s economy and contribute to Prime Minister’s aspiration of making India a $5 trillion economy.
Investor’s summit at district level
On December 19, 2022, Barabanki became the first district to hold an investors summit. The district got an investment proposal of Rs.867.2 crore and subsequently the district administration signed the MoUs. Delighted with the success of Barabanki model CM Yogi has decided to organise investors summits in all the 75 districts of UP.
Consequently, Unnao got an investment proposal of Rs. 738 crores. This comes ahead of the Global Investors Summit to be held in February 2023. The government is visioned to get an investment of 10 lakh crores for the state. Apart from state’s target, the government has made a district level target to achieve the goal.
Recently, a team of ministers and officers returned from 16 countries procuring an investment proposal of Rs. 7.12 lakh crores. The state government of Uttar Pradesh is actively seeking the investments for the province.
Yogi model of economic development
While the central government is aspired to make India a $5 trillion economy, the UP government has promised a contribution of $1 trillion. The target of UP is 20 per cent of the national target. Uttar Pradesh has become the 3rd largest economy among the Indian states. In about last five years, UP government has received an investment of around Rs. 4 lac crores.
While the state is contributing in agricultural, trading and tourism sector, there is an urgent need to industrialize the state. Till now, few parts of the state like Noida, Ghaziabad, Kanpur and Lucknow are the only major industrial region.
A large state like UP needs to transcend the economic prosperity at the most decentralised level of governance. And when the districts will get the investments, it will boost the economy from the base. Resultantly, there will be a rise in employment and there will be less migration for work.
State Capital Region (SCR Model)
In a further attempt to boost the financial and administrative setup of the state, Uttar Pradesh is looking forward to develop a State Capital Region (SCR). SCR will be developed on the lines of NCR. The SCR will be comprising of Lucknow, Sitapur, Unnao, Rae Bareli, Kanpur Dehat, Kanpur Nagar and Barabanki. Interestingly, the investment procurement discussed above are in the vicinity of the SCR.
According to the government, the SCR region will be developed through a plan which will be a norm for each of districts to follow. The SCR will be a unique example of inter-district planning and development. UP is going to become the first state to develop a capital region. As NCR is an example of how the development of SCR Model opened a gate of immense possibilities for not only the adjoining area but also the states like UP and Haryana.
UP is going to become an economic model
Few days ago, investors from Punjab also reached Lucknow and promised investments. The prime reason for it was the growing ease of doing business along with the safer working environment in UP. The law-and-order condition of UP has improved as compared to the past government. There was a rise in the number of cases of crime and corruption in previous government which made the investors reluctant. Thus, the economic growth of the state was halted. However, the Yogi government reformed the administration and also launched a single window clearance system called ‘Nivesh Mitra’ for industrial development.
Uttar Pradesh has a population of almost 22 crores. Obviously, any government would face the issues to tackle the economic wavering. Having a clear idea of the situation, the Yogi government is seeking investments and is looking for industrialisation. The vision around this step is to ensure prosperity in the state and solve the problem of unemployment once and for all. The Barabanki model, when applied to each of the district of UP, will make UP an economic model (SCR Model) which will surely be followed by other states in the coming future.
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