Center clears MoUs worth Rs 35 lakh crore for Rajasthan; State targets to become USD 350 billion economy
New Delhi, June 11
Rajasthan is expected to become a USD 350 billion economy as MoUs worth Rs 35 lakh crore have been signed for investments, of which proposals exceeding Rs 9 lakh crore have already reached the ground-breaking stage in the state, according to a statement by NITI Aayog on Thursday. Rajasthan Chief Minister Bhajan Lal Sharma attended the 11th meeting of the Governing Council of NITI Aayog at Rashtrapati Bhavan in New Delhi under the chairmanship of Prime Minister Narendra Modi. Presenting Rajasthan's vision for development, achievements, and future action plan, he added that Rajasthan is fully committed to playing a leading role in achieving the goal of "Viksit Bharat-2047."
In the NITI Aayog Governing Council Meeting, chaired by Prime Minister Narendra Modi, CM Bhajan Lal Sharma shared the Roadmap for 'Vibrant Rajasthan-2047'.
According to the release, the Rajasthan government is working to leverage its 63% youth population as the primary driver of development.
He further stated that MoUs worth Rs 35 lakh crore have been signed for investments in the state, with groundbreaking ceremonies already executed for projects valued at over Rs 9 lakh crore. Additionally, the state has been gifted a modern 9 MMTA capacity refinery, which will prove to be a milestone in Rajasthan's industrial evolution.
The Minister shared that the state government has set a target to turn Rajasthan into a USD 350 billion economy by 2029. The state's current GSDP growth rate stands at 10.24%, offering a highly positive indicator toward reaching this milestone," the release said.
The Chief Minister stated that the 'MY Bharat' campaign has received massive traction in Rajasthan, positioning the state second in the country with 18 lakh registered youths. Additionally, the state has implemented the Rajasthan Skill Policy-2025, Rajasthan Youth Policy-2025, and Rajasthan Employment Policy-2026. Furthermore, the release stated that localised employment opportunities are being generated through interventions in cooperatives, dairy development, and the One District-One Product (ODOP) initiative.
— ANI
Reader Comments
Finally some good news for Rajasthan! The 9 MMTA refinery is a game-changer for industrial growth. And 'MY Bharat' being second in the country shows youth are engaged. But I hope the ODOP initiative actually helps local artisans and not just large corporates. The skill policy is great on paper, but we need proper training centers in rural areas.
Impressive figures, but I'm skeptical. Rs 35 lakh crore in MoUs is a lot - Rajasthan's entire GDP is around Rs 12 lakh crore currently. These MoUs often include many non-binding agreements. USD 350 billion by 2029 is an ambitious target (current is ~$180 billion). Love the optimism, but execution is key. Let's check back in 3 years to see real progress.
As someone from Rajasthan, I'm cautiously optimistic. The youth policy and employment policy are good steps, but our state faces issues like water scarcity and infrastructure gaps. The new refinery will help, but we need parallel investment in solar power, tourism, and rural development. Also, 18 lakh youth registered under MY Bharat is impressive - hope they get real opportunities, not just certificates. 🤞
USD 350 billion economy by 2029? That's a 6x jump from current GSDP (Rs 12 lakh crore ≈ $145 billion). Even with 10.24% growth, it would take over a decade at that rate. The MoU numbers look impressive, but we need to see FDI figures and actual disbursement. That said, the government's focus on youth and skills is spot-on. Maybe they're counting on multiplier effects from the refinery and industrial corridor.
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