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The Uttar Pradesh government is planning to invest Rs 5 trillion in the newly created State Capital Region (SCR) that will position Lucknow as a major investment hub in North India.
The investment is expected to materialise in the next two years.
The SCR spans across 27,826 sq km and encompasses six districts — Lucknow, Hardoi, Sitapur, Unnao, Rae Bareli, and Barabanki.
To achieve the goal, the state has mandated the UP State Industrial Development Authority (UPSIDA) and the UP Expressway Industrial Development Authority (UPEIDA) to acquire land. The UP State Capital Region Development Authority (UP-SCRDA) has been given the charge to manage Lucknow-SCR. The acquired land would be allotted to investors for setting up of industries, housing, and infrastructure projects.
Lucknow-SCR will come up on the lines of the New Okhla Industrial Development Authority (Noida) in terms of attracting investment, said UPSIDA Chief Executive Officer (CEO) Mayur Maheshwari. While the state CM will be the ex-officio chairmanship of the UP-SCRDA, the chief secretary will be the vice-chairman with senior officials of the housing and urban planning department as its members.
The SCR will seek to decongest Lucknow by providing jobs and self-employment opportunities in the constituent districts, thus curbing the migration of youth to big cities.
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Since a large number of UP districts are connected with expressways and airports, the SCR is expected to leverage the state’s industrial and agricultural landscape for socioeconomic development in the years to come.
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