Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram

TMI Blog

Home

UP leading nation in digital transactions: CM Adityanath

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... UP leading nation in digital transactions: CM Adityanath
PTI News
Dated:- 4-3-2025
PTI
Lucknow, Mar 4 (PTI) Chief Minister Yogi Adityanath on Tuesday said Uttar Pradesh leads the country in digital transactions, with Rs 1,024.41 crore worth transactions made in 2024-25 till December. During the Budget discussion in the Assembly, he said more than half of the digital transactions in t .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... he state were conducted through UPI. In 2017-18, the state recorded Rs 122.84 crore in digital transactions. He pointed out that this rise reflects the "ease of digital banking" across the state. He noted that internet and Wi-Fi facilities have been extended to villages, and a comprehensive financial awareness programme has been implemented. Banking services are now accessible through 20,416 ban .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ks, over 4 lakh Bank Mitras and BC (business correspondents) sakhis, 18,747 ATMs, and 4.4 lakh banking centers, ensuring financial inclusion at every level. Adityanath underscored the impact of Direct Benefit Transfer (DBT) in curbing corruption. He described DBT as "the mace of Bajrang Bali, delivering a decisive blow against dishonesty and corruption." Under DBT, beneficiary funds are deposite .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... d directly into bank accounts, eliminating middlemen. "Currently, 207 schemes across 11 departments (including 113 central and 94 state-sector schemes) operate under DBT. In just one year, over 9.08 crore people in the state have received payments amounting to Rs 1,11,637 crore through DBT transactions, leading to a Rs 10,000 crore savings for the state," he said. The chief minister also highl .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ighted the remarkable growth in Foreign Direct Investment (FDI) in Uttar Pradesh. "From April 2000 to June 2017, the state attracted Rs 3,303 crore in FDI. However, from 2017 to 2024, FDI inflows have surged to Rs 14,008 crore, demonstrating that Uttar Pradesh is progressing in the right direction and strengthening its position as a key investment destination." Emphasizing that the banking syste .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... m is the backbone of the economy, Adityanath highlighted the significant growth in bank deposits in UP. In 2016-17, deposits in banks across the state stood at Rs 12.75 lakh crore, which surged to Rs 29.66 lakh crore in 2024-25. Additionally, the Credit-Deposit (CD) ratio, which was 44-45 per cent in 2016-17, has now risen to 61 per cent. Citing the RBI bulletin, he said UP leads the country i .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... n attracting project financing, with a 16.2 per cent share of funds sourced from banks and financial institutions. He further noted that UP ranks number one in complete financial inclusion under schemes like Pradhan Mantri Jan Dhan Yojana, Pradhan Mantri Suraksha Bima Yojana, and Atal Pension Yojana. Additionally, UP is ranked second in the Pradhan Mantri Jeevan Jyoti Yojana and holds the top .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... position in providing maximum loans to street vendors under PM SVANidhi Yojana. The state has also climbed to the second spot nationally in income tax return filings, which he described as clear evidence of Uttar Pradesh's strengthening economy. Discussing unemployment trends, Adityanath pointed out that during the Samajwadi Party (SP) government, the state's unemployment rate ranged between 1 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 7-19 per cent. However, over the last seven to eight years, it has steadily declined, reaching 3.4 per cent in 2023-24. Comparing UP's progress with other states, he noted that the unemployment rate currently stands at 6.7 per cent in Jammu & Kashmir, 7 per cent in Kerala, 6.1 per cent in Punjab, and 4.3 per cent in Himachal Pradesh. Taking a dig at the previous SP government, he remarked that .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... it spent Rs 15 crore on organizing an event to distribute just Rs 20 crore in unemployment allowance, highlighting the inefficiency of past policies. PTI KIS ANU ANU
News - Press release - PIB .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

 

 

 

 

Quick Updates:Latest Updates