Haryana, carved out of Punjab and known as its poor cousin, has edged past the state on most parameters of economic development.
Data from Haryana and Punjab finance and statistical departments make an interesting study. Punjab, known as the most prosperous state for decades, thanks to highest per capita income in the country, has lost to Haryana even in this race.
In 2006-07, the per capita income in Haryana was Rs 44,151 against Rs 35,161 in Punjab. Year-wise data show that the trend began in 2003-04 when, for the first time, Haryana?s per capita income of Rs 31,509 rose above Punjab?s Rs 31,192.
Punjab has always been ahead of Haryana on this front. In 2001-02, Haryana had a per capita income of Rs 26,077 against Punjab?s Rs 28,949. Again in 2002-03, Haryana clocked a per capita income of Rs 28,259 against Punjab?s Rs 29,443. However, after 2003-04, there was no looking back for Haryana?in 2004-05 its per capita income was Rs 35,044 against Punjab?s 32,945. In 2005-06, Haryana reached the mark of Rs 38,832 against Punjab?s Rs 34,929 and in 2006-07 end, it reached Rs 44,151 while Punjab stood at Rs 35,161.
??My mission is to make Haryana number one state in the country??, says Haryana chief minister, Bhupinder Singh Hooda. According to him, the state?s economy witnessed a growth of 12.6% in gross state domestic product (GSDP) in 2005-06. During this period, Punjab saw a GSDP growth rate of 4.65%. During 2006-07, Haryana?s GSDP was 15% against 4.95% of Punjab. ??At this rate, Punjab would be worse off than Jharkhand and Orissa by 2015,?? fears state finance minister Manpreet Singh Badal.
The Planning Commission, in its latest report, has described Punjab as the slowest growing state, perhaps a shade better than Daman and Diu. Agriculture, for long the engine of the state?s economy, has lost steam, growing at 2%, while the industrial sector has been stuck at 4.2% having attracted less than 2% of the country?s industrial investment proposals.
Neighbouring Haryana has received foreign direct investment projects of over Rs 11,000 crore in the state and corporate sector. In comparison, Punjab can boast of only LN Mittal?s stake in the proposed Bathinda Refinery. Chief minister, Parkash Singh Badal, admits that his ??best singular achievement as CM has been to bring Bathinda Refinery to Punjab??. Says Manpreet Singh Badal, ??Punjab has not been able to attract private investment because of major concessions given by government of India to industries being set up in Himachal Pradesh, Uttarakhand and Jammu and Kashmir. Rather, there has been exodus of industry from Punjab to these states due to concessions given to them??.
Haryana boasts of 23.3% share of primary sector in GSDP. The share of the secondary sector was 32.4% and tertiary sector 44.03%. Economists say the trend of relative sectoral shares was indicative of the state?s sound economic health of the state.
