The Economic Evaluation of ODOP Scheme’s Financial Interventions & Its Contribution to UTTAR PRADESH Regional Development

Abstract

With a 241.2 million of population and a land area of 2,40,928 square kilometres, Uttar Pradesh is an extremely diverse state in every way of life. There are different climates, different types of crops and foods, and different community customs and economic endeavours resulting from all of these factors. The aim of one district, one product scheme to encourage the promotion of locally produced and specialized goods and crafts in Uttar Pradesh.  Products that are exclusive to Uttar Pradesh such as - the renowned chikankari and zari-zardozi work on clothing, the unique and fascinating wheat-stalk craft, and the traditional and nourishing "Kala Namak" rice and so many. This manuscript focuses on the ways in which the ODOP initiative's financial policies have aided in the state's socio-economic advancements. It would also suggest measures for ODOP in driving sustainable socio-economic growth across the state. The ripple effect of financial policies under ODOP on social outcomes, entrepreneurship, and spatial dimensions of economic progress has been defined and investigated through conceptual analysis. By utilizing the documented evidence and official statistical compilations from the government reports, policy documents, case studies and review of relevant research papers. This study has established a conceptual framework for comprehending the connection between socio-economic development and financial support. Understanding how ODOP financial policies support socio-economic development in Uttar Pradesh is made easier by this study. It provides pertinent information regarding how a targeted financial intervention can boost local entrepreneurship, drive regional economic growth, improve community livelihoods, and create jobs, all of which can lead to more effective policy design and implementation.