UP: PM Modi To Inaugurate 14,500 Projects With Investments Surpassing ₹10.15 Lakh Crore On February 19

UP: PM Modi To Inaugurate 14,500 Projects With Investments Surpassing ₹10.15 Lakh Crore On February 19

These substantial investments, primarily directed towards underdeveloped regions, are poised to ignite growth and narrow the developmental gap between West UP and its counterparts in the state

BISWAJEET BANERJEEUpdated: Sunday, February 18, 2024, 09:46 PM IST
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PM Narendra Modi | X

As Prime Minister Narendra Modi gears up to inaugurate the ‘bhoomi pujan’ of nearly 14,500 projects, with investments surpassing ₹10.15 lakh crore on February 19, the Uttar Pradesh government's groundbreaking ceremony 4.0 emerges as a pivotal endeavour aimed at tackling regional imbalances and driving comprehensive development across the state.

These substantial investments, primarily directed towards underdeveloped regions, are poised to ignite growth and narrow the developmental gap between West UP and its counterparts in the state.

Core objective:

The core objective of these projects is to catalyze a technological revolution in Uttar Pradesh, propelling its tech sector to unprecedented heights and steering the state towards unparalleled economic prosperity, according to statements from the Department of IT and ITeS.

One standout investment is the Noida Data Center Park being developed by NIDP Developers Private Limited, with a monumental investment of Rs 30,000 crore. Spanning 20 acres in the Greater Noida Industrial Development Authority area, this project is expected to generate employment opportunities for 2,160 individuals.

Implementation of investment proposals

The groundbreaking ceremony will witness the implementation of investment proposals across all regions of the state. While west UP continues to receive a significant share of investments, the other regions - Purvanchal (east UP), Madhyanchal (central UP), and Bundelkhand - are also set to benefit substantially.

Commenting on the investment distribution, Manoj Kumar Singh, infrastructure and industrial development commissioner (IIDC), highlighted a shift towards a more balanced allocation. "Earlier, investments were predominantly concentrated in west UP. However, this time, there is a more equitable distribution across all regions. While Bundelkhand may receive a smaller share, this comprehensive allocation across districts will contribute to addressing regional disparities and fostering holistic growth," remarked Singh.

Although the final allocation is still being determined, early indications suggest a balanced distribution, with west UP potentially receiving around 50%, east UP 28-30%, central UP 13-14%, and Bundelkhand region’s share estimated at 6-7%.

The UP Global Investors’ Summit-2023 initially received investment proposals totaling ₹33.50 lakh crore, covering all districts of the state. Subsequent proposals further boosted the estimated investment to ₹40 lakh crore, showcasing robust investor interest in Uttar Pradesh.

Prof Yashvir Tyagi, former head of the Department of economics, at Lucknow University, hailed the groundbreaking ceremony as a significant step towards reducing regional disparities. "UP has long grappled with uneven development. The UPGIS laid the foundation by attracting investments across all regions. GBC 4.0 builds on this momentum, contributing to the reduction of regional disparities," emphasized Tyagi.

District-wise analysis of investment proposals

A district-wise analysis of investment proposals underscores widespread interest, with Gautam Buddha Nagar, Agra, Lucknow, Gorakhpur, and Varanasi emerging as key districts with substantial investment potential.

The groundbreaking ceremony symbolizes a decisive stride towards inclusive growth and development across Uttar Pradesh, signaling the state's commitment to addressing longstanding disparities and unlocking its full potential.

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