UP Budget 2022: All Eyes On Proposals To Push Exports As Figures Dip To 5% In 2022
UP Budget 2022: Uttar Pradesh, which has the third largest economy among all states in India, has slipped from fourth rank to fifth in 2022 by value of exports, government data showed.
New Delhi: Uttar Pradesh Finance Minister Suresh Khanna will present the first budget of the second term of the Yogi Adityanath-led BJP government on Thursday. While the government has set a target to expand its economy to $1 trillion by 2027, data shows that the state has seen a dip in exports, considered a major driver of economic growth and development, in the past three years. Uttar Pradesh has slipped from fourth rank to fifth in 2022 among all states by value of exports, according to data shared by the Union Ministry of Commerce.
The data shows UP's share of exports in India was just 5 per cent in the year 2021-22 (April to February). Uttar Pradesh exported goods worth Rs 1,40,107 crore.
In 2020-21, UP’s share of exports was 5.63 per cent, with the state exporting goods worth Rs 1,21,140 crore. In 2019-2020, goods worth Rs 1,17,902 crore were exported and the share was 5.31 per cent.
In 2021-22, Gujarat retained the number one position in India as the largest exporter, with a 29.83 per cent share. The western state exported goods Rs 8,37,440 crore, government data shows.
An analysis of the data shows that Gujarat is six times ahead of Uttar Pradesh in terms of exports. Maharashtra also exports three times more than Uttar Pradesh.
The Uttar Pradesh government had on December 16, 2021 presented an interim-budget for 2022-23 in the state legislature proposing an expenditure of Rs 5,45,370.69 crore and estimated receipts of Rs 5,44.836.56 crore. This left a deficit of Rs 534.13 crore.
What UP Exports To The World
Exports are considered to be one of the major drivers of economic growth and development. The economy of Uttar Pradesh is the third largest of all the states of India and it contributes nearly 8 per cent of the national GDP.
However, Uttar Pradesh has improved its ranking as per the Export Preparedness Index prepared by the Niti Aayog. In 2021, UP's Export Preparedness Index rank was six, up from 11 in 2020.
In terms of exports, Uttar Pradesh performs poorly in parameters like trade support, infrastructure, access to finance and export diversification. However, the state performs well in export promotion policy and business environment parameters.
The major exports from Uttar Pradesh include mobile phones, boneless meat of bovine animals, articles of iron and steel, aluminium products, menthol, cane sugar, refined sugar, leather and rice.
(With Tirthesh Nanndan)
Trending News
Top Headlines
