Economy of Haryana

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Economy of Haryana
Statistics
GDP 6.88 lakh crore (US$100 billion) (2018-19 est.)[1]
GDP rank 13th
GDP growth
13% (2017-18 est.)[2]
GDP per capita
199,612 (US$3,000) (2016-17)[2]
GDP by sector
Agriculture 18%
Industry 30%
Services 52% (2016-17)[2]
Public finances
23.4% of GSDP (2018-19 est.)[2]
Revenues 83,333 crore (US$12 billion) (2018-19 est.)[2]
Expenses 1.03 lakh crore (US$15 billion) (2018-19 est.)[2]

As per Sept 2017 data, Haryana state's GSDP was US$85 billion in 2016-17 (estimated to be US$95 billion in 2017-2018, comparable to Angola),[3] which had grown at 12.96% CAGR between 2012-17, boosted by the fact that this state on DMIC in NCR contributes 7% of India's agricultural exports and 60% of India's Basmati rice export, with 7 operational SEZs and additional 23 formally approved SEZs (20 already notified and 3 in-principal approval, mostly along Delhi Western Peripheral Expressway as well as Amritsar Delhi Kolkata Industrial Corridor and DMIC corridor) also produces India's 67% of passenger cars, 60% of motorcycles, 50% of tractors and 50% of the refrigerators, which places Haryana on 14th place on the list of Indian states and union territories by GDP behind only much bigger states that are significantly larger in both area and population.[3][4] As per Nov 2016 data, Gurugram ranks number 1 in India in IT growth rate and existing technology infrastructure, and number 2 in startup ecosystem, innovation and livability.[5]

Macro-economic trend[edit]

This is a chart of trend of gross state domestic product of Haryana at market prices estimated by Ministry of Statistics and Programme Implementation with figures in Crore Rupees.[6]

Year Gross State Domestic Product
1999–2000 50,787
2000–2001 56,955
2001–2002 63,489
2002–2003 69,653
2003–2004 78,816
2004–2005 89,431
2005–2006 100,676
2007–2008 101,319.42[7]

Sectors[edit]

Digital economy[edit]

BharatNet roll out is already complete in Haryana by November 2017 by providing impetus to Make in India and Digital India.[8] Gurugram is among India's top 3 IT hubs and IT export income earner.

Manufacturing[edit]

There are numerous manufacturing companies in the region, these include Hindustan National Glass, Maruti Udyog Limited, Escorts Group, Hero MotoCorp, Alcatel, Sony, Whirlpool India, Bharti Telecom, Liberty Shoes and HMT. In addition there are more than 80,000 small-scale industrial units in the state which cumulatively bring in a substantial income for the state and its people. Yamunanagar district has a paper mill BILT, Haryana has a large production of cars, motorcycles, tractors, sanitary ware, glass container industry, gas stoves and scientific instruments.

Faridabad is another big industrial part of Haryana.[9] It is home to hundreds of large scale companies like Orient fans (C.K.Birla Group), JCB India Limited, Nirigemes, Agri Machinery Group (Escorts Group), Yamaha Motor India Pvt. Ltd., Whirlpool, ABB, Goodyear Tire and Rubber Company, Knorr Bremse India Pvt. Ltd. There are thousands of medium and small scale units as well, like Amrit Enterprises, McAma Industries.

Agriculture[edit]

About 86% of the area is arable, and of that 96% is cultivated. About 75% of the area is irrigated, through tubewells and an extensive system of canals. Haryana contributed significantly to the Green Revolution in India in the 1970s that made the country self-sufficient in food production, the state has also significantly contributed to the field of agricultural education in the country. Haryana's agriculture GDP contribution to the nation's agricultural GDP is 14.1% and HAU Hisar in Haryana is Asia's largest agricultural university.[10] In 2017-18, out of total 1,350 canal tails, 1343 tails have been fully fed.[11]

Dairy farming[edit]

Dairy farming is also an essential part of the rural economy. Haryana has a livestock population of 10  million head.[10] Milk and milk products form an essential part of the local diet. There is a saying Desaan main des Haryana, jit doodh dahi ka khaana, which means "Best among all the countries in the world is Haryana, where the staple food is milk and yogurt". Haryana, with 660 grams of availability of milk per capita per day, ranks at number two in the country compared to the national average of 232 grams.[12][13] There is a vast network of milk societies that support the dairy industry, the National Dairy Research Institute[14] at Karnal, and the Central Institute for Research on Buffaloes at Hisar are instrumental in development of new breeds of cattle and propagation of these breeds through embryo transfer technology.

Roads, aviation and infrastructure[edit]

The 32 lane toll gate at National Highway 8 is the largest in Asia and third largest in the world

Haryana has a total road length of 23,684 kilometers, the most remote parts of the state are linked with metaled roads. Its modern bus fleet of 3,864 buses covers a distance of 1.15 million Kilometers per day. It was the first State in the country to introduce luxury video coaches.[15]

Haryana State has always given high priority to the expansion of electricity infrastructure, as it is one of the most important inputs for the development of the State. Haryana was the first State in the country to achieve 100% rural electrification in 1970, first in the country to link all villages with all weather roads and first in the country to provide safe drinking water facilities throughout the state.[16][better source needed]

References[edit]