The Uttar Pradesh government has said it is determined to make the state a one-trillion dollar economy by 2027. To achieve this goal, it is important to have a roadmap, focus on key areas, and ability to address the challenges. In light of these issues, a seminar was organised in Lucknow on Wednesday by the Uttar Pradesh Finance and Accounts Service Association and the State Bank of India on the possibilities, challenges and the role of the Finance department and the SBI to achieve the vision of a one-trillion dollar economy.

Presiding over the seminar, Uttar Pradesh Finance Minister Suresh Khanna said that the government believed that if officers involved in banking and finance had a helpful attitude, maintained a positive approach and included quality and technology in their work, there was no reason why Uttar Pradesh could not achieve this significant goal.

He said that UP needs to learn about quality and the use of technology from Japan.  “Do not delay today’s work until tomorrow. We should learn from Japan how they carry out their work with honesty and sincerity. If we do the same, no goal will be too big to achieve. Today, we are advancing with technology. It is the marvel of technology that all government schemes, including the Kisan Samman Nidhi, are being delivered to people with just one click of the mouse,” the minister said.

He emphasised that achieving a one-trillion dollar economy does not mean accumulating one trillion dollars in the treasury. “The direct goal is to develop our capabilities and economy. When the goal is big, there has to be a change in work behaviour,” he remarked.

He said the Chief Minister Yogi Adityanath had transformed the perception of Uttar Pradesh. “Significant improvements have been made in infrastructure and organised crime has been significantly reduced. To align with the one-trillion dollar goal, we must create a strategic plan. Transparent policies, industrial policies, financing arrangements and timely decision-making are essential for developing a one-trillion dollar economy,” he pointed out.

The finance minister mentioned that the government’s first priority is to increase purchasing power. When purchasing power increases, there is a higher demand for services in the market. Accordingly, there is a need to increase production, he pointed out.

“The more we focus on infrastructure, the more employment is created. This is an economic cycle that helps strengthen the economy," he said.

Khanna also stated that advancing the transportation and communication systems would contribute to development.