Punjab, one of the northernmost states of India, is bordered by the Pakistani province of Punjab to its west, Jammu & Kashmir in the north, Himachal Pradesh in the northeast, Haryana in the south and southeast, and Rajasthan in the southwest.
The state’s GSDP (in Rs.) increased at a compound annual growth rate (CAGR) of 6.78% between 2015-16 and 2020-21.
As of February 2021, Punjab had a total installed power generation capacity of 14,376.29 MW, of which 4,214.54 MW was under the central sector, state utilities (3,281.20 MW) and private sector (6,880.55 MW). Of the total installed power generation capacity, 8,765.51 MW was contributed by thermal power, 3,809.12 MW by hydropower and 1,604.85 MW by renewable energy.
According to the Department for Promotion of Industry and Internal Trade (DPIIT), cumulative FDI inflow in the state stood at US$ 741.23 million between October 2019 and March 2021.
- Total merchandise exports from Punjab stood at US$ 5.61 billion in FY20 and US$ 5.29 billion in FY21.
- In June 2021, the National Highways Authority of India (NHAI) announced the planned infrastructure development works worth Rs. 1,417 crore (US$ 194 million) in Punjab for the current fiscal (FY22). The annual plan will cover 295 kms of national highways.
- In September 2020, the state government initiated 12 major projects to improve road connectivity in the state, under the central road and infrastructure fund (CRIF) at a cost of Rs. 211.22 crore (US$ 28.86 million).
- In March 2020, the Punjab government allocated an outlay of Rs. 100 crore (US$ 7.45 million) under a ‘Smart School Policy’ for smart schools and digital education.
- Under the State Budget 2021-22, Rs. 2,449 crore (US$ 337.46 million) has been allocated for roads and bridges, of which funds worth Rs. 575 crore (US$ 79.23 million) were allocated to upgrade, construct and repair 560 kms of roads and bridges in FY22.
- Total funds worth Rs. 160 crore (US$ 22.05 million) were proposed for improvement of 124 rural roads. A total of Rs. 250 crore (US$ 34.45 million) has been set aside, under the Central Road Fund (CRF) scheme, for various works on 308 kms of road.
- Under the State Budget 2021-22, Rs. 1,600 crore (US$ 220.47 million), Rs. 1,400 crore (US$ 192.91 million) and Rs. 114 crore (US$ 15.71 million) have been allocated for Smart Cities, AMRUT and Swachh Bharat Mission (Urban), respectively.
- In March 2021, Union Education Minister Ramesh Pokhriyal ‘Nishank’ announced opening of a new Kendriya Vidyalaya in Punjab.
- Gross Enrolment Ratio for higher education in the state reached 30.3 in 2017-18.
- Under Budget 2021-22, Rs. 3,822 crore (US$ 526.65 million) has been allocated for health and family welfare to strengthen health infrastructure of the state.
- In 2019-20, the total production of horticulture crops in the state was expected to be 413.30 thousand metric tonnes and area under production was 7,797.65 thousand hectares. In 2019-20, the total production of vegetables and fruits was estimated at 5,537.82 thousand metric tonnes and 2,106.12 thousand metric tonnes, respectively.
- In the state, Basmati rice is the most exported commodity and exports reached US$ 535.77 million in between April 2020 and January 2021.
- The state has emerged as a key hub for textile-based industries including yarn, readymade garments, and hosiery. With the development of apparel parks, favourable textiles policy and other incentives for the creation of textile infrastructure, the state offers opportunities for investment. State is the source of 95% of India’s Woollen Knitwear production, 85% of India’s sewing machine production and 75% of India’s sports goods production.
- In FY21, Punjab exported cotton yarn worth US$ 323.66 million and ready-made garments (man-made fibres) worth US$ 123.55 million.