(News) Uttar Pradesh : CM Akhilesh Want Rs.16.7 Lakh Crore to Achieve the Growth Rate of 8.5%

Representing Uttar Pradesh after five years at the National Development Council (NDC) chief ministers' meet, Akhilesh Yadav on Thursday said the state government had accorded top priority to improving basic infrastructure to achieve a growth rate of 8.5% for Uttar Pradesh.

Referring to various targets in the 12th Five Year Plan, the chief minister also said a growth rate of 4.9% in agriculture, 7.1% in the industrial sector and 10.9% in the services sector, along with an approximate investment of Rs 16.70 lakh crore would be needed. Akhilesh, who expressed hope that some recent initiatives by the state government would boost investments, also enlisted the Centre's support in taking UP to new levels of economic growth.

Showing growing concern over the dip in Central government funding to UP, the chief minister also expressed his disapproval of the government's practice of finalising sectoral distributions without involving the state government in the process. Referring to the Fiscal Responsibility and Budget Management Act, 2003, he also said restricted borrowing limits had further tied the hands of the state government. "Though the 12th Five-Year Plan has seen an increase in the gross budgetary support, Central assistance to states has declined from 26.52% in the 11th Plan to 24.04% for the current plan," Akhilesh said.

Making his debut at the NDC, Akhilesh said UP had placed the agriculture sector on top of the priority sector list and was making every effort to increase yield and productivity. Deliberating on the need of a second green revolution in the country, he added there was a need to ensure farmers got right price for their produce. Akhilesh also listed the state government's initiatives to make barren, water-logged, and ravine land cultivable.

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Courtesy : The Times of India