Plan Commission approves Rs.57,800 crore for UP

Planning Commission Wednesday approved a Rs.57,800 crore outlay for Uttar Pradesh for the 2012-13 fiscal. The annual plan package is of Rs.57,000 crore, while Rs.800 crore is towards special assistance for organising the Kumbh Mela festival, which will be held in Allahabad in January 2013. The plan outlay was approved during a meeting here between Planning Commission Deputy Chairman Montek Singh Ahluwalia and Uttar Pradesh Chief Minister Akhilesh Yadav. Talking to reporters after the meeting, Yadav said the financial assistance would help Uttar Pradesh achieve 10 percent economic growth over the next five years. The Centre has already cleared a package to the tune of 45,000 crore for Uttar Pradesh.
Expressing satisfaction over the Plan outlay for the current fiscal, Yadav said, "The Commission has provided us Rs 20,000 crore under the centrally sponsored schemes which would help us improve economic growth rate of the state." "We have set target of 10 per cent growth rate in the next five years. We have to work harder to achieve this. I assure you that the state would utilise funds properly to achieve the desired growth rate." During the meeting Yadav said,"to achieve the targetted growth of 10 per cent in the terminal year an investment of Rs 16.70 lakh crore will be required, out of which Rs 4.86 lakh crore will be in the public sector and Rs 11.84 lakh crore in private sector." He informed the Commission that the new industrial and agriculture policy is being worked out and it would be announced shortly.