Indian Economy: News and Discussion

FalconSlayers

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IndianHawk

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Aren’t we a third wirld poor country? I am desperately waiting for the money to return, @Haldilal do you think a debt crisis in America due to this?
US debt is one of the safest place to put your money. Usa has never defaulted. If anything I see India taking up more and more usa debt as china retreats from usa debt market.
 

AMCA

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UP moves to second spot on GSDP list, surpasses Tamil Nadu, Gujarat
Maharashtra tops tally, Uttar Pradesh surpasses Tamil Nadu, Karnataka, and Gujarat with Rs 19.2 lakh crore GSDP.

Published: 26th February 2021 04:24 PM | Last Updated: 26th February 2021 04:24 PM | A+A A-

UP Chief Minister Yogi Adityanath speaks during the Budget Session of UP Assembly in Lucknow Wednesday Feb. 24 2021. (Photo | PTI)
By Namita Bajpai
Express News Service
LUCKNOW: Amid the pandemic-driven economic slowdown, UP stood out in the crowd by becoming the second-largest state in the country locking Rs 19.48 lakh crore of Gross State Domestic Product (GSDP). It surpassed states such as Gujarat, Karnataka, and Tamil Nadu.
The finance department data shows that the state's GSDP in 2020-2021 crossed the USD 268 billion mark making the state climbing three ranks to figure at number 2 position in 2020-21 from number 5 in 2019-2020.
With the financial capital Mumbai, Maharashtra continued to lead the tally. UP moved to number two followed by Tamil Nadu with GSDP Rs 19.2 lakh crore, Karnataka Rs 18.03 lakh crore, and Gujarat Rs 17.4 lakh crore at number 3, 4, and 5, respectively. Tamil Nadu was second and Gujarat third last fiscal while Karnataka was at the fourth slot.
The increase in GSDP and UP climbing up to the second position given severely receding economy in first two-quarters of the last fiscal in the wake of COVID-19 triggered lockdown, reflects the revival of economic activities.
As per the economic experts, the upsurge in GSDP is an indicator of the resilience being shown by non-agriculture activities in the state which hugely banks upon agriculture to sustain its economy.
Be it the ease of doing business wherein UP clinched the second position in the country or even distribution of Kisan Samman Nidhi, the central govt scheme, wherein, it was adjudged the best-performing state in the country, UP has been leaving an impact at the national level.
CM Yogi Adityanath had revealed on the floor of Assembly during the ongoing budget session that the UP government had accorded the benefit of Kisan Samman Nidhi Yojna to a total of 2.37 crore farmers in the state, the certificate of which was given by the Centre.
Moreover, the CM also informed the house that of the MoUs of Rs 4.28 lakh crore inked during the investors' summit in February 2018, nearly Rs 3 lakh crore have started at the ground level. State exports have also increased to 32% in the last two years.
 

FalconSlayers

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If US economy will fall ,it will fall in a day , it won't go down slowly in long run , they are slowing down but the worst us yet to come .
I don’t think USA will fall easily, but then you used the word “if”, I feel its unlikely as USA very well knows themselves.
 

Chandragupt Maurya

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UP moves to second spot on GSDP list, surpasses Tamil Nadu, Gujarat
Maharashtra tops tally, Uttar Pradesh surpasses Tamil Nadu, Karnataka, and Gujarat with Rs 19.2 lakh crore GSDP.

Published: 26th February 2021 04:24 PM | Last Updated: 26th February 2021 04:24 PM | A+A A-

UP Chief Minister Yogi Adityanath speaks during the Budget Session of UP Assembly in Lucknow Wednesday Feb. 24 2021. (Photo | PTI)
By Namita Bajpai
Express News Service
LUCKNOW: Amid the pandemic-driven economic slowdown, UP stood out in the crowd by becoming the second-largest state in the country locking Rs 19.48 lakh crore of Gross State Domestic Product (GSDP). It surpassed states such as Gujarat, Karnataka, and Tamil Nadu.
The finance department data shows that the state's GSDP in 2020-2021 crossed the USD 268 billion mark making the state climbing three ranks to figure at number 2 position in 2020-21 from number 5 in 2019-2020.
With the financial capital Mumbai, Maharashtra continued to lead the tally. UP moved to number two followed by Tamil Nadu with GSDP Rs 19.2 lakh crore, Karnataka Rs 18.03 lakh crore, and Gujarat Rs 17.4 lakh crore at number 3, 4, and 5, respectively. Tamil Nadu was second and Gujarat third last fiscal while Karnataka was at the fourth slot.
The increase in GSDP and UP climbing up to the second position given severely receding economy in first two-quarters of the last fiscal in the wake of COVID-19 triggered lockdown, reflects the revival of economic activities.
As per the economic experts, the upsurge in GSDP is an indicator of the resilience being shown by non-agriculture activities in the state which hugely banks upon agriculture to sustain its economy.
Be it the ease of doing business wherein UP clinched the second position in the country or even distribution of Kisan Samman Nidhi, the central govt scheme, wherein, it was adjudged the best-performing state in the country, UP has been leaving an impact at the national level.
CM Yogi Adityanath had revealed on the floor of Assembly during the ongoing budget session that the UP government had accorded the benefit of Kisan Samman Nidhi Yojna to a total of 2.37 crore farmers in the state, the certificate of which was given by the Centre.
Moreover, the CM also informed the house that of the MoUs of Rs 4.28 lakh crore inked during the investors' summit in February 2018, nearly Rs 3 lakh crore have started at the ground level. State exports have also increased to 32% in the last two years.
268 billion dollars last year it was 254 billion dollars means an increase of 14 billion dollars
 

ezsasa

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268 billion dollars last year it was 254 billion dollars means an increase of 14 billion dollars
perhaps new farm laws and infra spending taking effect.

- the rice & wheat that used to be sent Punjab mandi is no longer going there, getting counted in UP economy itself.

- so many expressways & infra projects are getting built.
 

Chandragupt Maurya

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Just stating pakistan gdp 280 billion at the end of this year , up will be well above 310 billion
Tamil Nadu and Maharashtra already have bigger economy than Pakistan UP will be added in the list in next 5-6 years we will see Rajasthan, Gujrat Karnataka, Bihar , Bengal , Madhya Pradesh , Odisha , Andhra Pradesh , Telangana also overtaking Pakistan
 

IndianHawk

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perhaps new farm laws and infra spending taking effect.

- the rice & wheat that used to be sent Punjab mandi is no longer going there, getting counted in UP economy itself.

- so many expressways & infra projects are getting built.
Yup UP is leading nation in express ways. UP could be a trillion dollars economy by itself by 2030 if it can keep this pace of growth.
 

Chandragupt Maurya

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perhaps new farm laws and infra spending taking effect.

- the rice & wheat that used to be sent Punjab mandi is no longer going there, getting counted in UP economy itself.

- so many expressways & infra projects are getting built.
It’s not a very big given the population of UP (22 crore) but still far better than Akhilesh Government
 

Chandragupt Maurya

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I think GSDP of even smaller states with very tiny population like Punjab , Harayana , Goa , Chhattisgarh , Odisha Kerala can overtake Pakistan in 6-10 years
 

Lonewolf

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Anyone knows given UP changed the labour laws how many manufacturing companies actually have set up there or are planning to?
Bohot jyada

Anyways they have mou worth 4.8 lakhs , and a lot has been invested , add expansion of existing facilities , they have a advantage of ncr but still bringing this much investment in such a state is commendable
 

sauntheninja

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Bohot jyada

Anyways they have mou worth 4.8 lakhs , and a lot has been invested , add expansion of existing facilities , they have a advantage of ncr but still bringing this much investment in such a state is commendable
Most of the investment is in Noida right what about poorer areas of UP?
 

Chandragupt Maurya

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Most of the investment is in Noida right what about poorer areas of UP?
Investment from central government in Bihar UP region is very low connectivity has improved but still very poor Central Government should come with innovative ideas to promote economic growth in landlocked areas eastern UP and Bihar has huge potential in agriculture but needs stimulus from centre
 

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