Uttar Pradesh’s per capita debt Rs 37,500 while Yogi govt aims for ‘$1 trillion economy’

Former Uttar Pradesh chief minister Akhilesh Yadav on 22 August, Friday, hit out at the BJP-led state government, accusing it of burdening the people with rising debt while boasting about transforming UP into a “$1 trillion economy”.

“The BJP has only given [us] pain or debt. The public is asking whether, while claiming a trillion-dollar economy, the government has accounted for the Rs 37,500 debt hanging on every citizen’s head,” Yadav wondered.

Taking a dig at Prime Minister Narendra Modi’s 2014 poll promise, Yadav added, “If the BJP’s ‘Rs 15 lakh in every account’ had not turned out to be a jumla, then even after deducting this loan, around Rs 14,62,500 would still have been in everyone’s account today. Please excuse me if I’m off in the calculations.”

The remarks come at a time when UP’s fiscal condition has drawn increasing scrutiny.

According to official figures, the state’s total outstanding debt is projected to touch Rs 9 lakh crore by the end of the 2025-26 fiscal year — up from Rs 6 lakh crore five years ago.

The per capita debt now stands at about Rs 37,500.

While per capita income in the state has risen to about Rs 94,000 in 2025, it remains significantly below the national average of Rs 1,84,205. Opposition leaders argue that growth remains uneven, citing persisting problems of unemployment and inflation.

The Yogi Adityanath government, however, has defended its economic policies, claiming it has lifted 6 crore people above the poverty line in the past eight years through welfare schemes and infrastructure projects. The state has also budgeted an annual debt repayment of Rs 51,403 crore for 2025–26, underlining its effort to manage liabilities while pursuing rapid economic expansion.