Lucknow (Uttar Pradesh) [India], The Uttar Pradesh government is adopting the Public Private Partnership (PPP) model in various sectors to achieve the $1 trillion economic target for 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 is expected to be between Rs 12-16 lakh crore, while private investment could range between Rs 93-108 lakh crore, according to an official statement.
At the sectoral level, around Rs 2 lakh crore worth of PPP projects are completed, ongoing or about to commence. To accelerate these efforts, the government is considering setting up a PPP cell within the PPP framework. Many states, including neighboring Uttarakhand, have created PPP cells.
These cells address the lack of institutional mechanisms and encourage collaboration between the public and private sectors for the development of infrastructure projects. They also attract private investment in sectors such as transport, energy, healthcare, education and tourism. Additionally, the PPP cell helps create job opportunities and provides a centralized information hub for all PPP projects in the state.
The government, under the leadership of Deputy Minister Yogi Adityanath, is promoting the PPP model in four core sectors and others with significant potential for integration of PPP to boost the economic growth of the state. Notably, the state has set an investment target of Rs 105 lakh crore to Rs 120 lakh crore from 2023-24 to 2027-28 to realize the vision, according to an official release.
In 2022-23, Uttar Pradesh's economy was valued at $279 billion. Chief Minister Yogi Adityanath has pledged to grow its economy to $1 trillion in the next five years. To achieve this goal, the state government is laying emphasis on rapid and inclusive development. To boost the economy, sectoral interventions are being implemented and key sectors that support growth are being promoted.
Major sectors include agriculture, manufacturing, tourism and IT and ITES, education and skill development, energy, health, infrastructure and urban development. The government believes that these sectors have great potential for growth with investment. The PPP model can be a crucial way to attract private investment in these sectors, the statement added.
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 is expected to be between Rs 12-16 lakh crore, while private investment could range between Rs 93-108 lakh crore, according to an official statement.
At the sectoral level, around Rs 2 lakh crore worth of PPP projects are completed, ongoing or about to commence. To accelerate these efforts, the government is considering setting up a PPP cell within the PPP framework. Many states, including neighboring Uttarakhand, have created PPP cells.
These cells address the lack of institutional mechanisms and encourage collaboration between the public and private sectors for the development of infrastructure projects. They also attract private investment in sectors such as transport, energy, healthcare, education and tourism. Additionally, the PPP cell helps create job opportunities and provides a centralized information hub for all PPP projects in the state.
The government, under the leadership of Deputy Minister Yogi Adityanath, is promoting the PPP model in four core sectors and others with significant potential for integration of PPP to boost the economic growth of the state. Notably, the state has set an investment target of Rs 105 lakh crore to Rs 120 lakh crore from 2023-24 to 2027-28 to realize the vision, according to an official release.
In 2022-23, Uttar Pradesh's economy was valued at $279 billion. Chief Minister Yogi Adityanath has pledged to grow its economy to $1 trillion in the next five years. To achieve this goal, the state government is laying emphasis on rapid and inclusive development. To boost the economy, sectoral interventions are being implemented and key sectors that support growth are being promoted.
Major sectors include agriculture, manufacturing, tourism and IT and ITES, education and skill development, energy, health, infrastructure and urban development. The government believes that these sectors have great potential for growth with investment. The PPP model can be a crucial way to attract private investment in these sectors, the statement added.
