UP Govt promotes PPP model to achieve one trillion dollar economic target by 2027-28 | India News

LUCKNOW: Uttar Pradesh government is adopting Public Private Partnership (PPP) model in various sectors to achieve the target of one trillion dollar economy in Uttar Pradesh by 2027-28.

To achieve the target of a trillion dollar economy by 2027-28, Uttar Pradesh needs a total investment of $1.3-1.5 trillion (Rs 105-120 lakh crore). In this, public investment will be 12 to 16 lakh crore rupees and private investment will be 93 to 108 lakh crore rupees, according to the official notification.

Sector-wise, PPP projects worth about Rs 2 lakh crore have been completed, are underway or are about to be launched. To expedite these efforts, the government is considering setting up a PPP cell within the PPP framework. Several states, including neighboring Uttarakhand, have set up PPP cells.

These cells address the lack of organizational mechanisms and encourage collaboration between the public and private sectors to develop infrastructure projects. Sectors such as transport, energy, health, education and tourism also attract private investment. In addition, the PPP cell facilitates job creation and provides a centralized information center for all PPP projects in the state.

The government led by Chief Minister Yogi Adityanath is promoting the PPP model in four key sectors and others where there is significant potential for PPP integration to promote economic growth in the state. It is noteworthy that it has set a target of investment from 105 lakh crore rupees to 120 lakh crore rupees from 2023-24 to 2027-28.

In 2022-23, the economy of Uttar Pradesh is estimated to be USD 279 billion. Chief Minister Yogi Adityanath has promised to grow into a trillion dollar economy in the next five years. To achieve this goal, the state government is emphasizing rapid and inclusive growth. Sectoral interventions are being implemented to boost the economy and key sectors that support growth are encouraged.

Key sectors include agriculture, manufacturing, tourism, and IT & ITES, education and skill development, energy, health, infrastructure and urban development. The government believes that these sectors have huge growth potential with investment. The PPP model is an important way to attract private investment in these sectors.

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