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Indian Economy - Understanding the basics of Indian economic system

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Maharashtra is the largest contributor to India's GDP and is followed by Uttar Pradesh

Uttar Pradesh became India's second-largest economy, surpassing key states and surging ahead in a commendable stride toward Chief Minister Yogi Adityanath's ambitious goal of achieving the $1 trillion mark by 2027.

  • According to a report from the prominent online blogging platform soic.in or SOIC Finance, which meticulously tracked investments and the stock market, Uttar Pradesh then claimed the second-largest share in the country's GDP after Maharashtra.
  • The recently shared report on X disclosed that Uttar Pradesh commanded a substantial 9.2% share of the nation's GDP, elevating it from its previous third-place standing. 
  • The state has outpaced economic contributors such as Tamil Nadu (9.1%), Gujarat (8.2%), and West Bengal (7.5%). Furthermore, it has surged past Karnataka (6.2%), Rajasthan (5.5%), Andhra Pradesh (4.9%), and Madhya Pradesh (4.6%).
  • Uttar Pradesh has also climbed from the 14th to the second position in the 'Ease of Doing Business' rankings. 
  • Presently, the state is exporting goods worth nearly Rs 2 lakh crore, and the loan-deposit ratio of banks has increased from 42-43% to 56%, with plans to further elevate it to 60%.

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