Uttar Pradesh attracts big ticket investment worth Rs 57,000 crore
The Uttar Pradesh government has attracted more than 77 investment intents from companies around 10 countries such as Japan, UK, US, Canada, Germany, South Korea, and Singapore among others of worth Rs 57,000 crore.
It has also introduced digital tracking mechanism for memorandum of understandings. Active engagement of investors, nodal departments and nodal officers on the online MoU tracking portal has been mandated. Also, monthly review of the progress is monitored.
Awanish Kumar Awasthi, additional chief Secretary (home) was questioned on what steps have been taken to attract investors in UP, since the state known for "mafia raj" and frequently criticized for its poor law and order situation over the years. He replied, "Zero tolerance approach has been adopted. Property valuing about Rs 900 crore, illegally acquired by mafias and goons, was seized by the state government. We are taking strict action and no one is being spared for their illegal activities."
Interestingly, by introducing reformed action plan ensuring ease of doing business, the state ranking in Business Report Action Plan by DPIIT, Government of India, has ranked UP on 2nd position -- a jump of 12 positions in last three years.
The state implemented 186 reforms and one of the major reforms done was digital single window portal named 'Nivesh Mitra' providing 166 services to the entrepreneurs. With an average NoC application disposal rate of 93%, Nivesh Mitra Portal has achieved query resolution rate of 98%, according to UP government officials.
Besides, the state has 20,000 acres of ready-to-move industrial land bank, of which 5,000 acres are to be developed in 2021.
While the state government has already achieved 27.2% of its target through its various industrial development authorities.
The U.P. Industrial Area Development Act, 1976 amended to discourage blocking of land. Under this amended act if the allotted land not utilised within five years it will be cancelled.
At the same time, Invest UP has been established to support investors in the procedural work.