Given that the gross state domestic item (GSDP) in FY20 was about Rs 17.95 lakh crore, attaining the target will need raising it by more than 4 instances in 5 years.
Global skilled services firm, Deloitte Touche Tohmatsu India has beaten Boston Consulting Group, Grand Thorton and iSAARC-UP IT consortium to emerge as the chosen consultancy firm that would aid the Uttar Pradesh government in the ‘herculean task’ of shaping its technique to grow to be a $1 trillion economy in the subsequent 5 years.
A higher-powered committee below the chief secretary has advisable Deloitte Touche Tohmatsu India for the job and the state cabinet is probably to place its stamp of approval on it quickly.
Speaking to FE on situation of anonymity, a senior state government official mentioned that although Deloitte Touche Tohmatsu India, along with Boston Consulting Group, Grand Thorton and iSAARC-UP IT consortium certified in the technical round, Deloitte emerged as the winner, as its composite technical and economic score was the ideal.
It might be described that the Uttar Pradesh government has floated a worldwide tender inviting consultants to create a strategic framework and generate an implementation roadmap to aid it attain the target of becoming a $1 trillion economy in the subsequent 5 years and also style institutional reforms.
Given that the gross state domestic item (GSDP) in FY20 was about Rs 17.95 lakh crore, attaining the target will need raising it by more than 4 instances in 5 years.
Admitting that it is a “herculean task” that demands some giant measures to be taken by the state government, the RFP document states that the activity needs “some well thought out and long-term strategies on a sustained basis and would also require organisational restructuring, focussed policies and rules for more effective governance, faster decision-making process and improved accountability”.
According to officials, the activity was difficult in itself, but with the deep financial contraction brought on by Covid-19, it has now grow to be trickier to accomplish the target. “To achieve the target, the state would require to raise the current growth rate of 7% substantially. The selected consultant will have to come up with some really out of the box idea to boost the size of GSDP to one trillion dollars,” mentioned an additional official.