New Delhi
Haryana’s share of India’s gross domestic product (GDP) has surpassed that of Punjab, with its per capita income reaching 176.8 percent in 2023-24, while Punjab’s stands at 106.7 percent. This was revealed by a report from the Economic Advisory Council to the Prime Minister.
Punjab and Haryana, once part of the same state, have followed different economic paths. Punjab’s GDP share grew during the 1960s due to the Green Revolution but began to decline after 1990-91, falling to 2.4 percent in 2023-24. Haryana’s GDP share, though stable since 2010-11, reached 3.6 percent in 2023-24.
Haryana’s economic growth has been attributed to areas like Gurugram. Punjab’s per capita income, which was 169 percent of the national average in 1970-71, dropped to 106.7 percent in 2023-24. Meanwhile, Haryana has shown steady growth in both GDP share and per capita income.
The report suggested that Punjab’s focus on agriculture may have contributed to its slower industrial growth, raising the question of whether this caused a form of “Dutch disease,” an economic condition where one sector’s growth leads to a decline in others.
The diverging performance between Haryana and Punjab indicates a need for further investigation to understand the impact of policies on their economies.
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Southern States Account for 30.6% of India’s GDP: EAC Report
New Delhi
Following economic liberalisation in 1991, southern states, particularly Karnataka and Telangana, have emerged as major economic hubs. The Economic Advisory Council (EAC) to the Prime Minister reported on Tuesday that these states contributed 30.6% to India’s GDP in 2023-24. The EAC-PM paper examined state performance and per capita GDP since 1960-61.
