Why PUNJAB Not Developed Like HARYANA ?Haryana vs. Punjab | GDP & Economy |

Описание: #infratalks #haryana #punjab #economy #development #gdp #haryanavspunjab

November 1, 1966, witnessed the separation of Haryana from Punjab.

In today's video, we'll explore how, economically and infrastructurally, Haryana has surpassed Punjab.

But before that, let's take a quick look at some data.

GDP PER CAPITA:

In 1981, Punjab had the highest per capita income in the entire country. In simple terms, Punjab was one of the richest states in India. However, according to the latest data from 2021 and 2022, Haryana now ranks 7th in India in terms of GDP per capita, while Punjab has fallen out of the top 10, currently standing at the 19th position.

GDP GROWTH:

In terms of GDP growth, Haryana is the 3rd fastest-growing state in India today, after Gujarat and Karnataka. Haryana consistently outperforms Punjab on various parameters.

GST COLLECTION:

For example, looking at the GST collections for November 2023, Haryana was ranked 5th with ₹9,732 Crore, whereas Punjab lagged behind at the 17th position with ₹2,265 Crore. This means that Haryana's GST collection is four times higher than that of Punjab.

GDP:

In terms of overall GDP, Haryana is the 12th largest, with a GDP of Rs 11.2 lakh crore, while Punjab is ranked 16th with a GDP of Rs 6.98 lakh crore. Notably, Haryana's GDP is almost double that of Punjab.

GDP DEBT:

Moreover, Punjab's economy is burdened with around 53.3% debt. The Finance Minister of Punjab mentioned that the debt could increase from ₹2.83 lakh crores to ₹3.05 lakh crores. With a population of 3.17 crores, this amounts to a per capita debt of ₹1 lakh.

An article on India Today highlighted how Punjab is heading towards economic distress, similar to Sri Lanka.

On the other hand, Haryana, with more than seven major Special Economic Zones (SEZs) and over 23 formally approved SEZs, is a major industrial state in North India. It hosts numerous multinational companies, particularly in cities like Faridabad and Gurugram.

Haryana consistently contributes more than 30% of the country's medals in the Olympics. It stands out not only in sports but also in sectors like IT, infrastructure, and automobile manufacturing.

Now, let's explore the reasons behind the significant gap in development between Haryana and Punjab.

Reason 1 - Investment and Infrastructure:

Haryana has successfully attracted investments from major multinational corporations and industries. The state has heavily invested in its infrastructure, boasting more than 34 national highways and 11 expressways. Notably, Haryana is witnessing the construction of India's first Urban Elevated Expressway in Gurugram.

Reason 2 - Agricultural Mismanagement:

Punjab, being primarily an agricultural economy, faces challenges related to grain mismanagement. The state's soil quality has been negatively impacted over the years, and farmers are burdened with heavy debts.

However, Haryana, while facing similar challenges, has diversified its economy across multiple sectors, reducing dependence on agriculture.

Reason 3 - Industrialization:

Haryana has strategically set up multiple industries in various districts, including major cities like Gurugram and Faridabad, establishing itself as a leading industrial state in India.

Reason 4 - Government Policies:

The government of Haryana has played a crucial role by implementing business-friendly initiatives such as tax reductions and subsidies, contributing significantly to the state's economic growth.

Reason 5 - Law and Order and Drugs:

While Punjab grapples with law and order issues, Haryana maintains lower crime rates. Punjab has faced challenges related to drug abuse, leading to brain drain and affecting its economy.

In conclusion, these factors collectively contribute to the significant developmental gap between Haryana and Punjab. The script aims to provide a detailed and informative analysis for a comprehensive understanding of the economic dynamics between these two states.

In this video, I answer all these questions:

Which Is More Developed: Haryana And Punjab?
Which state is better: Haryana or Punjab?
Comparative Analysis of Punjab and Haryana Economy.
How Haryana leading the development race with its big brother Punjab?
Haryana vs Punjab GDP.
Haryana vs Punjab GDP growth rate.


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