Money Orders Boom
Uttarakhand, whose economy was once driven by money orders sent by soldiers and other employees from outside the hill state, is finally reaping the fruits of concessions granted by the Central Government from 2003 to encourage industries to set up shop. The concessions were finally withdrawn in 2010, but in those seven years, several industrial units had come up on vast tracts of land in areas such as Udham Singh Nagar, Haridwar and Dehradun in the state. This, in turn, has led to prosperity and the consequent creation of assets. Says 77year- old Chief Minister B. C. Khanduri, “Since there is a government order to employ 70 per cent locals, employment has been generated and migration reduced.”
State capital Dehradun has emerged as an educational hub and this has created a demand for housing with a large number of people buying houses and flats in the past few years. There are now 96 engineering colleges in the state in the private sector. Many people from Bihar and neighbouring Saharanpur, Muzaffarnagar and Meerut districts of Uttar Pradesh admit their children to schools in Dehradun and Nainital. The construction boom that kicked off with the creation of Uttarakhand on November 9, 2000, is yet to ebb.