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TMI BlogUttarakhand performs better than HP in the last 2 decades: EAC-PM paperX X X X Extracts X X X X X X X X Extracts X X X X ..... Uttarakhand performs better than HP in the last 2 decades: EAC-PM paper X X X X Extracts X X X X X X X X Extracts X X X X ..... er said on Wednesday. The Paper titled 'The Great Convergence: A Case Study of Uttarakhand and Himachal Pradesh (2000 to 2020)' also said that the growth in the manufacturing sector had a multiplier effect on the overall economy of Uttarakhand, and its tax base. Co-authored by Shamika Ravi (Member, EAC-PM) and Alok Kumar (Principal Secretary, Industrial Development & MSME, Government of UP), t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he paper compares the growth and economic transformation of Uttarakahnd (UK) to that of HP over a period of two decades, examining the impact of Union Government's Concessional Industrial Package (CIP) for Hill States announced in 2003. With identical industrial policies but distinct and different land policies – the trajectories for economic growth of UK & HP resulted in different long-term out ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... comes. UK better leveraged the benefits of CIP, it said. The paper said that both the hilly states announced near identical industrial policies in response to the central government's offer; except one critical difference – town planning and land policy – where the two states adopted two entirely distinct approaches. While HP took the usual route of permitting industries to buy land directly f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rom farmers, through private negotiation liberally allowing land use conversions and providing support for creating infrastructure around the new industrial clusters, UK opted for a planned industrialisation in designated Industrial Estates complete with infrastructure facilities provided and financed by the State Government. Given their respective strategies, UK witnessed growth in its industri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al economy by 9.5 times while HP witnessed a modest 4.6 times. "The growth in the manufacturing sector had a multiplier effect on the overall economy. From 2000 to 2011, UK GSDP experienced a CAGR of 11.05 per cent, while HP saw a more modest CAGR of 6.91 per cent,” the paper said. The paper further said that the impact of this industrial transformation was a dramatic increase in the State's O ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wn tax revenue (SOTR) base. Uttarakhand managed to augment its revenue base over 18 times over a period of 22 years, implying that it is approximately doubling its SOTR every five years. HP on the other hand has seen a relatively more moderate growth over the same period, representing a 5.5 times growth in real terms. UK came into existence as a new state on November 9, 2000. UK and HP share ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s inter-state boundaries. PTI JD JD CS MR MR X X X X Extracts X X X X X X X X Extracts X X X X
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