The first economic review of Uttar Pradesh highlighted the rapid expansion of the economy, ₹50 lakh crore investment proposals, rising per capita income and strong financial position. The GDP of the state is estimated to reach ₹36 lakh crore.
Lucknow. Finance and Parliamentary Affairs Minister Suresh Kumar Khanna presented the first economic review of Uttar Pradesh in the House on the first day of the budget session of the Legislature on Monday. In this review, a detailed description of the state’s economy, investment, per capita income, fiscal position and contribution of various sectors has been given.
According to the Finance Minister, the economy of Uttar Pradesh has grown significantly in the last eight years. The economy has grown from ₹13.30 lakh crore in 2016–17 to more than ₹30.25 lakh crore in 2024–25. It is expected to reach ₹36 lakh crore in 2025–26. With this, Uttar Pradesh is firmly established among the largest state economies of the country.
Economic Review: Document of growth, aspirations and future prospects
The Finance Minister said that this is a historic moment because Uttar Pradesh, like the Government of India, is now presenting its economic review before the House for the first time. He said that this review is not just a compilation of data, but a living document of the state’s progress, public expectations and future possibilities.
Uttar Pradesh, a symbol of India’s cultural heritage and historical pride, is now moving forward with new economic thinking and energy. This state, with a population of more than 25 crores, is becoming a major center of agricultural production, industrial development and technological innovation.
Big change in investment: More than ₹50 lakh crore investment proposal
The Finance Minister said that Uttar Pradesh, which was earlier not a priority for investors, has now become a major center of industrial investment. Due to transparent policies, timely approvals and the policy of ‘Triple S’ (Safety, Stability, Speed), the state has so far received investment proposals worth more than ₹ 50 lakh crore. This reflects a major positive change in the investment environment.
Uttar Pradesh’s increasing contribution to the national economy
According to the Economic Survey, Uttar Pradesh’s contribution to the national economy is continuously increasing.
- Contribution in year 2016–17: 8.6%
- Contribution in 2024–25: 9.1%
This growth reflects the economic strength of the state and its increasing role in the development of the country.
Improvement in per capita income: Positive change in economic situation
The review said that for the first time after independence, Uttar Pradesh has reversed the long trend of decline in per capita income.
- Year 2016–17: ₹54,564 per capita income
- Year 2024–25: ₹1,09,844 per capita income
- Year 2025–26 Estimate: Approximately ₹1,20,000
The situation has also improved compared to the national average. In the year 2014–15 it was only 50.2% of the national average, which increased to 53.5% in 2024–25.
Balanced economic development in agriculture, industry and service sectors
According to the Economic Review, the economy of Uttar Pradesh is now moving towards multi-sectoral development. GSDP contribution in the year 2024–25:
- Agriculture and allied sectors: 25.8%
- Industrial sector: 27.2%
- Service Sector: 47%
This shows that the state is no longer just an agriculture-based economy, but industry and service sectors are also growing rapidly.
Historic increase in budget size: Speed up development plans
The Finance Minister said that the budget size of the state has increased significantly in the last nine years.
- Year 2016–17 Budget: ₹3.47 lakh crore
- Year 2025–26 Estimated Budget: ₹8.33 lakh crore
This increase is approximately ₹4.86 lakh crore, which is much higher than that of the previous governments. The growth between 2008–09 and 2016–17 was only ₹2.34 lakh crore.
Increase in capital expenditure to boost infrastructure and employment
The state government has made a major increase in capital expenditure while giving priority to public investment.
- Year 2016–17: ₹69.79 thousand crore
- Year 2024–25: ₹147.72 thousand crore
This has given impetus to infrastructure development, industry expansion and employment generation.
Financial discipline and strong fiscal position
In the economic review, the financial condition of Uttar Pradesh has been described as balanced and disciplined.
- The public debt-to-GSDP ratio was 29.3% in 2016–17.
- Decrease to 28.0% in 2024–25
This is lower than the national and global average, indicating better financial management.
Significant increase in tax revenue
The state’s own tax revenue has also increased rapidly.
- Year 2016–17: ₹0.86 lakh crore
- Year 2024–25: Approximately ₹2.09 lakh crore
This is an increase of almost two and a half times, which is said to be the result of tax reforms and administrative efficiency.