UPITS 2025: Uttar Pradesh Finance Minister Suresh Khanna said that from UP 2017, he has now become a model of economic progress. UP budget crosses 8 lakh crores, investment of 15 lakh crores, MSME leading in employment and number one in FDI.
Greater Noida, 27 September. Uttar Pradesh Finance Minister Suresh Khanna said that before 2017, UP was considered a backward state, but today it has become an example of economic progress. Now UP is synonymous with security and good governance and is making all -round growth on the scale of development. He was addressing the Transforming Financial Landscape in UP program held in the UP International Trade Show (Uppets). Many dignitaries including MSME, Khadi and Village Industries Minister Rakesh Sachan, Special Secretary of Finance Department Sameer Verma and Chief General Manager Inder Mohan Singh of Bank of Baroda were present on the occasion.
UP International Trade Show became the best platform for entrepreneurs
The Finance Minister said that UPITS is a great platform not only for the state but the entrepreneurs and investors from all over the country. The rising success of this event can be gauged from the number of increasing investors and entrepreneurs here. He said that after the arrival of the Yogi government and the NDA government of the Center, law and order has improved and organized crime has been completely curbed. This is the reason that the state which was once known for economic backwardness is progressing rapidly.
Historical growth in UP’s budget and investment
Suresh Khanna said that before the formation of the Yogi government, the budget size of UP was only 3 lakh crore rupees. But now it has increased to more than 8 lakh crore rupees. Due to better law and order, the Ganges of development is flowing in UP and so far more than Rs 15 lakh crore has been invested. For the convenience of investors, the government has also launched apps like ‘Investment Friends’ and ‘Investment Sarathi’.
UP number one in the country to attract FDI
The Finance Minister said that UP has become the leading state of the country in attracting foreign investment (FDI). So far, FDI of more than Rs 3,700 crore has arrived. This is the result of the leadership of Prime Minister Narendra Modi and the policies of Chief Minister Yogi Adityanath, which is growing rapidly towards making India a developed nation. He appealed to nationalized banks to introspect and work towards improving CDIT Deposit Ratio, so that entrepreneurs can get loans easily.
GST reform benefits both public and industry
Suresh Khanna said that the public will get direct benefit from GST reforms. Before 2014, UP’s exports were only Rs 84,000 crore, which has now increased to more than Rs 1,76,000 crore. He said that there has been a tremendous bounce in the economy of UP. The budget has increased by 133% and in 2024-25 UP has emerged as Revenue Surplus of Rs 59,000 crore (Revenue Surplus). That is, UP’s income is more than its expense, and in this case UP has become the leading state of the country.
MSME Sector: Largest Employment Provider
MSME, Khadi and Village Industries Minister Rakesh Sachan said that this time the budget of UP has been the biggest ever. Today UP is second in terms of contribution to GDP of the country. Under the leadership of Prime Minister Narendra Modi and Chief Minister Yogi Adityanath, schemes like ‘One District, One Product’ (ODOP) and ‘Vishwakarma Yojana’ have been implemented at the national level. Recently 10 new trade on Vishwakarma Jayanti has been added to this scheme.
Employment and enterprise opportunities for youth
Sachan said that MSME is the largest sector after agriculture, which provides employment. This sector is developing rapidly after GST reforms. A large number of youth are applying for loans to start their business. So far, more than seven lakh applications have been received which have been sent to banks after review. However, many youth have difficulty in getting loans. He appealed to the banks that no youth should be deprived of debt.
MSME Credit Card Demand
Referring to the demand of industrialists, Sachan said that the way farmers get credit cards for loan facility, a separate credit card should also be issued for MSME on the same lines. This will provide direct help to small and medium entrepreneurs and will further boost entrepreneurship.
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