Yogi govt orders district-wise CD ratio tracking to boost economic growth in Uttar Pradesh
By Team Asianet Newsable | First Published Nov 25, 2024, 4:19 PM ISTUttar Pradesh Chief Minister Yogi Adityanath introduces a pioneering reform, integrating investment attraction and credit-deposit ratio growth into the Annual Confidential Report (ACR) of District Magistrates and Divisional Commissioners.
Chief Minister Yogi Adityanath has taken a groundbreaking step to boost investment and strengthen economic activities in Uttar Pradesh. For the first time in the country, the Annual Confidential Report (ACR), based on the performances of District Magistrates and Divisional Commissioners, will now include metrics on investment attraction and credit-deposit (CD) ratio growth. This initiative marks a significant move toward driving economic growth while ensuring greater administrative accountability in the state.
On Monday, the government released the district-wise Credit-Deposit (CD) ratio for the financial year 2024-2025, as of April 1, 2024, to the District Magistrates and Divisional Commissioners of all 75 districts. These figures, provided by the State Level Bankers Committee, will serve as a basis for assessing the performance of the District Magistrates and Divisional Commissioners. Their evaluation will focus on the progress made in improving the CD ratio in their respective districts. The aim is to stimulate economic activities, attract investment, and enhance financial inclusion through expanded banking services.
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Chief Secretary Manoj Kumar Singh stated that the Annual Performance Evaluation Report of District Magistrates and Divisional Commissioners will now include assessments of efforts to attract investment and improve the CD ratio. Additionally, the report will consider the security, facilities, and conveniences provided to investors, fostering a better business environment.
The evaluation will also cover the timely preparation and management of land banks, including land allotment, subsidies, land use changes, and clearances for entrepreneurs, along with their monitoring and regular updates. This system aims to ensure that officers take a proactive and responsible role in driving investment and economic growth within their districts.
Chief Secretary Manoj Kumar Singh said that the ACR, from now onwards, will also evaluate efforts made by the District Magistrates and Divisional Commissioners in attracting investment and improving the CD ratio. This will include evaluating the security, facilities, and conveniences provided to investors, all aimed at promoting ease of doing business.
Additionally, the timely preparation and management of land banks—covering land allotment, subsidies, land use changes, land clearances for entrepreneurs, and their ongoing monitoring and updates—will also be part of the evaluation. This system ensures that officers fulfill their responsibilities in driving investment and fostering economic growth in their districts.
Uttar Pradesh is the first state in the country to prioritize the credit-deposit ratio as a key metric for measuring and promoting investment across its districts. This policy will not only accelerate economic development but also enhance accountability and transparency in the functioning of government officials. The government's initiative is set to become a significant milestone in the state's overall development and the promotion of financial inclusion.
The credit-deposit ratio, which reflects the proportion of loans disbursed by banks relative to deposits in the districts, serves as a crucial indicator of economic activity and the effective utilization of financial resources.
According to the Chief Secretary, the state government is aiming for a credit-deposit (CD) ratio of 65 percent by the end of the current financial year. An increase in this ratio reflects economic stability and signals a favorable environment for investment in Uttar Pradesh.
It is worth mentioning here that under the leadership of Chief Minister Yogi Adityanath, the Uttar Pradesh government has taken several steps to attract investment to the state. With immense potential and a secure, investment-friendly climate, the state is becoming a preferred destination for global companies seeking opportunities across multiple sectors. These global investments, along with strategic efforts, will play a key role in achieving the ambitious goal of making Uttar Pradesh a $1 trillion economy.
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