UP must grow at full capacity to make India USD 5 trn economy: Fin Commission

The Finance Commission on Tuesday said that Uttar Pradesh must grow at its full capacity to become a USD 1 trillion economy, which will help India achieve a GDP size of USD 5 trillion.

Speaking to reporters here, Finance Commission chairman N K Singh on Tuesday said, "For India to become a USD 5 trillion economy, UP has to become USD 1 trillion economy. For development of UP, a new growth rate is needed. If UP continues to move at this (current) rate, then it will not be able to become a USD 1 trillion economy."
On the possibility of a package for the state from the Finance Commission to make the economy USD 1 trillion, Singh said, "The team of the Finance Commission has toured 27 states, and there is not a single state which has not demanded a special package. What parameters will be used, how much weightage will be given and under which formula funds be divided between Centre and states, are some of the challenges before the Commission. So you have to wait for the Commission's report."
Singh also said, "The current position of the state in the context of UN's Sustainable Development Goals is not laudable. Priority should be given to education and health sectors. The programmes (as the parameters) which have been presented before the Finance Commission, there will be special sympathy on them (programmes). If work is done on the thoughts of the Commission as to how to transform the district hospitals into medical colleges, then it will benefit the state."
Singh also said, "The GDP rate of the state achieved in last two years is higher than the national average. The state has done its financial operations in the right manner."