GSDP Doubles to ₹27.51 Lakh Crore in 2024-25: Yogi Adityanath

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UP Holds 2nd Highest Tax Share After Maharashtra in 2024-25: RBI

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Lucknow, March 6: Uttar Pradesh has emerged as a leader in digital revolution and economic progress, said Uttar Pradesh Chief Minister Yogi Adityanath.

“From Direct Benefit Transfer (DBT) to digital transactions and a remarkable rise in Gross State Domestic Product (GSDP), the state is setting an inspiring example for the nation,” said the Chief Minister on Thursday.

He stated that “NITI Aayog has recognized UP as a front-runner, while a recent Reserve Bank of India (RBI) report highlighted UP’s tax share at 11.6% for 2024-25, making it the second highest in the country after Maharashtra”.

This milestone firmly establishes Uttar Pradesh as a leader in economic growth and governance efficiency, he added.

“Uttar Pradesh has achieved the top position in the country for digital transactions, marking a significant milestone in the state’s digital revolution,” said Adityanath.

In 2017-18, digital transactions in the state stood at ₹122.84 crore, whereas by 2024-25, this figure skyrocketed to ₹1024.41 crore by December 2024, with Unified Payments Interface (UPI) contributing to more than half of these transactions, added the Chief Minister.

“This transformation has been driven by easy access to digital banking, widespread internet availability in villages, financial literacy initiatives, and enhanced infrastructure,” added the Chief Minister.

Uttar Pradesh now boasts 20,416 bank branches, 4,00,932 Bank Mitras and BC Sakhis, 18,747 ATMs, and 4,40,095 banking centers, reflecting its robust financial ecosystem.

“Under the Direct Benefit Transfer (DBT) system, the Yogi government has successfully transferred ₹1,11,637 crore directly into the bank accounts of over 9 crore 8 lakh beneficiaries across 207 schemes from 11 government departments, including 113 central and 94 state schemes,” said the state government in a media statement.

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This transparent and efficient system has not only eliminated corruption but also led to savings of ₹10,000 crore, ensuring that benefits reach only the intended recipients, added the state government. “Uttar Pradesh has firmly established itself as a leading example of digital transformation, demonstrating how technology can empower citizens and drive economic growth,” said the state government.

From 1950 to 2017, Uttar Pradesh’s Gross State Domestic Product (GSDP) stood at ₹12.75 lakh crore. “However, with public trust in Prime Minister Narendra Modi’s policies and the focused governance of the Yogi government since 2017, this figure is set to more than double within just eight years, reaching ₹27.51 lakh crore in 2024-25,” added the state government.

With a 9.2% contribution to the national GDP, Uttar Pradesh has emerged as the second-largest economic contributor in the country, said the state government. “While India’s GDP growth rate stood at 9.6% in 2023-24, UP outpaced the national average with an impressive growth rate of 11.6%, showcasing its economic resilience and strength,” added the state government.

It also stated that “according to NITI Aayog’s latest report, Uttar Pradesh has been declared a ‘front runner’ in terms of fiscal stability. The state’s Fiscal Health Index has seen a remarkable improvement, increasing by 8.9 points between 2018-19 and 2022-23.”

“Capital expenditure has also grown significantly, rising from 14.8% to 19.3% of total expenditure, surpassing the national average of major states. Additionally, RBI’s 2024-25 report highlights that UP’s own tax receipt ratio has reached 10%, far exceeding the national average of 7.2%,” said the state government.

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