Meerut, June 3 (KNN) Plans are afoot to increase GDP of Meerut from Rs 67,000 crore estimated for 2023-24 to Rs 2 lakh crore by 2029-30.

A first of its kind study in India at district level conducted by M.C. Singhi, former Senior Economic Advisor to Govt of India, reports that such rapid growth is feasible and is line with ambition of Chief Minister of Uttar Pradesh Yogi Adityanath to make USD 1 trillion economy by 2027.   

The preliminary findings of the study were presented to the district administration for discussions in a high profile meeting held on Friday at Meerut Collectorate which was chaired by District Magistrate Deepak Meena.  

Senior officials from all government departments attended the meeting including that from MDA, Municipality, DIC, Agriculture etc.  

Instead of top down investment led growth, the study has proposed a bottom-up District led growth model which is based on achieving growth impetus from ‘freeing-up’ & ‘accelerating’ local growth drivers in Agriculture, Industrial & Services segments in Meerut.   

According to the study, the additional 6 to 7% growth could be mobilized through Incremental Capital Output Ratio (2.7 %) by ensuring realization of committed investment Rs 10,000 cr for districts materializes; Labour participation & Institutional investment (1%), Greater participation of women with improved law & order and skills training (2%), Labour relocation with migration from Agriculture through expansion of industry/ services & skills training and Institutional Improvement (1%).

For this additional growth to materialize, the study proposes a slew of administrative improvements and reforms to improve ‘Ease of doing business’ and  institutional delivery by  establishing Govt-Civil society partnership.

“The lowest hanging fruit is accelerating GDP by facilitating higher women participation in workforce. which could be achieved by inducing trust in law and order and ensuring safety of women in street,” said Singhi.   

The study identified 14 industrial and 6 services segments that dominate the economy of Meerut. 

The industrial clusters include: Sports Goods, Scissors Industry, Textile Weaving Industry, Brass Band Industry, Leather Industry, Textile Printing & Processing Industry, Handicrafts:, Print & Publishing Industry, Electronic Switch gear, Gems & Jewellery, Food Processing Industry, Meerut Power loom Cluster, Auto parts industry of Meerut and Khadi & Textiles Wavers.

The services segments identified are: Construction Advisers & Contractors, Doctors & Health Clinics, Education, Professionals, Tourist Aggregators and Street Hawkers/Eating Joints.

To coordinate and oversee the implementation of plan, a committee under chairmanship of District magistrate is also proposed.

The outcome of the discussion is to be incorporated in the final study to be released by end of June.

The study has been commissioned by Meerut Citizen Forum in association with Federation of Indian Micro and Small & Medium Enterprises (FISME).  (KNN Bureau)