The advance estimates for 2020-21 (released in March) had shown a contraction of about 6.4 per cent in the GSDP. As per these estimates, the rate of economy’s growth was less than five per cent during 2017-20 and (- 5.9 per cent) in 2020-21. In 2018-20, it remained at about 4.3 per cent only. The GSDP growth in 2017-18 was 4.9 per cent. The revised estimates of UP’s income show a systemic decline in the health of its economy. The revised data released for 2018-19 (revised provisional), 2019-20 (revised quick) and 2020-21 (revised advance) also indicate that the economy grew at a slower rate than expected. There is no denying that the COVID-19 pandemic has impacted UP’s economy as its Gross State Domestic Product (GSDP) shrunk by 5.9 per cent in 2020-2021 but the worrying sign is that the economy grew at less than five per cent during Yogi’s tenure. At present, the State’s nominal GDP for 2020-21 is Rs 17.05 lakh crore ($240 bn). The recent report on Uttar Pradesh’s economy released by the State Planning Institute does not paint a rosy picture, particularly when Chief Minister Yogi Adityanath has set the target to take the State to $1 tn economy in the next five years. To rid UP of economic woes, the Govt must revisit and redraw its strategy
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