New Delhi: Uttar Pradesh (UP) has seen a remarkable rise in the number of Income Tax Returns (ITR) filed in the state. UP emerged as the second-largest state in India in terms of the number of ITRs filed.
As per an RBI report, UP has seen a rise from 1.65 lakh ITRs filed in 2014 to an impressive 11.92 lakh ITRs filed in June 2023.
The RBI report also shows that UP tops the country with a 16.2 percent share in attracting funds from banks and other financial institutions. This marks a substantial increase from 1.1 percent in 2013–2014.
The Gross State Domestic Product (GSDP) also witnessed notable growth over the years. The state saw a 20 percent increase in GSDP in the financial year 2021-2022 compared to the financial year 2020-2021. The GSDP recorded in the financial year 2020-2021 was Rs 16,45,317, whereas in the financial year 2021-2022, the GSDP was Rs 19,74,532.
The report also noted that the state economy has seen significant growth despite the global and domestic economic recession witnessed within the first three years of COVID-19.
Another report by the NITI Aayog, “National Multidimensional Poverty Index: A Progress Review 2023,” Uttar Pradesh stands out as the state that recorded the highest decline in poor people in the country.
Earlier, a discussion was held at Jawaharlal Nehru University (JNU) regarding the policies of the Yogi government. These policies are creating innovative pathways for economic growth in UP.
The Yogi government has been making continuous efforts to make UP a trillion-dollar economy state.