An Introduction to Punjab economy
Introduction
According to the State Hunger Index of India, the Punjab state has least level of appetite in the nation.
The place that is known for Punjab has an extremely rich richness on earth. This locale is a perfect place for development of wheat, rice, natural products, sugar stick and different vegetables. The Punjab having a place with India is known as “India’s bread wicker container” or “Silo of India”. It has 10.26% creation Cotton of India, 19.5% of wheat of India and 11% of rice of India.
The Ferozepur and Fazilka Districts are the most astounding wheat and rice makers of state. To the extent the world is concerned, Punjab in India grows 2% of world’s cotton and 2% of wheat alongside 1% of rice. The biggest yield developed here is wheat. Other unmistakable yields become here are cotton, rice, sugarcane, maize, pearl millet, foods grown from the ground. Wheat and rice are twofold edited in territory of Punjab and rice stalks are being scorched off crosswise over a huge number of sections of land before wheat planting.
The training done crosswise over huge zone is inefficient and contaminating. The manure utilization per hectare here is 223.46 kg in spite of the fact that it is 90 kg broadly. This state was respected with the National Productivity Award for expansion administrations of Horticulture-2/”>Horticulture for a long time from 1991-92 to 1998-99 and also from 2001-04. As of late, there has been efficiency drop due to falling ripeness level of Soil.
The reason might be a result of a lot of utilization of pesticides and composts over years. One more issue is the quick fall in water table which is in charge of 90% of agribusiness. As indicated by an investigation, groundwater is likewise falling by finished a meter each year.
Significant Sector of Punjab Economy
Around 2/fifth of populace of Punjab involves itself with farming bookkeeping to a noteworthy section of gross result of state. Punjab has a huge part of nourishment grain generation in India contributing a conspicuous rice and wheat stock kept by Central Pool i.e. a national vault for abundance sustenance grain. A large portion of the efficiency and horticultural advance of Punjab is inferable from the Green Revolution which is a global transformation built up in 1960s which was implied for new innovations of agribusiness as well as rice and wheat high-yielding assortments.
Close to rice, corn, wheat, pearl millet and grain are likewise noteworthy oat items in Punjab. Nonetheless, the beats yield has been lessened since the later twentieth century, there is a quick increment saw underway of natural products, citrus, guavas and mangoes financially. A few other conspicuous products found are cotton, chickpeas, sugarcane, peanuts, oilseeds and vegetables.
There is satisfactory water system offices gave to the developed range, territory of Punjab is positioned to be a standout amongst the most flooded districts. The significant wellspring of water system here are trenches and wells possessed by the Government for the most part found in southwestern and southern Punjab though the wells are more typical in northeastern and northern zones. Bhakra Dam undertaking of nearby Himachal Pradesh supplies a ton of water system water to Punjab.
Assets and Power
Punjab is rare in petroleum products and thusly, it draws vitality essentially from warm Plants being let go with coal (imported). There is a lot of energy gave by the hydroelectric plants and sun based power stations to a little degree. In 21st century, there is a higher request of power in the state.
Assembling
The assembling area is extending since late twentieth century. The ventures with colossal number of laborers incorporate silk, materials and fleece Industry alongside drinks and handled nourishments, Metal items, hardware, furniture and transport supplies. A few other assembling units have calfskin merchandise, hosiery, elastic, plastics, and chemicals.
Administrations
The Punjab segment has administrations including exchange, stockpiling, transportation, Money related administrations, open organization, land and different administrations. This part has been developing at an extensive pace by late twentieth century. At show, it is the most noteworthy part of economy in Punjab.
Businesses
This state has an agrarian economy having a lower mechanical yield similarly with different conditions of nation. A critical factor of mechanical situation of state is little measured units of industry. There are around 194,000 little scale ventures in Punjab alongside 586 medium and vast units. Ludhiana is a noteworthy focal point of industry.
These are the three classifications of modern units in Punjab-
- Agro-based modern units
- Compound units
- Hardware units
Material Industry
Punjab delivers around 70% of best cotton quality in the nation. One of the essential impediments here is only 1.5% spindlage limit in the nation. Ludhiana is alluded to as India. The plants of cotton are arranged at Abohar, Phagwara, Malout, Amritsar, Mohali, Kharar and Ludhiana. Cotton ginning is exceptionally regular in Malerkotla, Malout, Abohar and Bhatinda and around 25.3 mln bundles of cotton is squeezed each year. Around 97 million kgs of yarn alongside 36.5 million m of fabric is being made in material plants of cotton in Punjab state.
Sugar Industry
The sugar plants of Punjab are arranged at Batala, Bhogpur, Gurdaspur, Phagwara, Zira, Nawanshahr, Morinda, Dhuri, Rakhra, Fazilka, Dasua, Nakodar, Budhewal, Mukerian, Budhladha, Tarn Taran, Faridkot, Ajnala, Jagraon, Lauhka, Amloh and Patran. When contrasted with alternate conditions of the nation, size of the sugar plants is relatively little in Punjab. The Co-agent plant of sugar at Morinda is the biggest in state having a day by day smashing capacity of 4,000 tons sugarcane. 6 of the helpful plants of sugar are not working though the left out 9 squash stick at the season of period of 150 days.
Dairy Industry
The fundamental wellspring of drain and also other dairy items in Punjab state is the bison. Punjab has a best rank in India according to the accessibility of drain coming after province of Haryana and also Gujarat. The plants of drain are essentially arranged at Verka in the region of Amritsar, Ludhiana, Jalandhar, Mohali, Patiala, Gurdaspur, Hoshiarpur, Ferozepur, Bhatinda, Sangrur, Faridkot, Mogha, Nabha, Hamira and Kot Kapura. The plant at Mogha is the most noteworthy plant in Punjab having a preparing limit of around 435 thousand liters of drain.
Keeping money and Finance
The Banking and fund areas in the territory of Punjab contribute in sparing assets betterly and thusly raise the saver wage alongside that of borrower at that very time. In the event that the state isn’t having a legitimate managing an account framework and back, the cash which is spared does not give sufficient return and there are a few hazard factors. The Banking and back of state is the real component of its prospect and in addition development. An express makes the greater venture, the more would be its mechanical and innovative upliftment.
For an orderly state economy, there is an effective managing an account framework and back which is fundamental. There are couple of striking highlights which improve the proficiency of this division, for example are appropriate exchanging , specialization of generation , polished skill , reserve funds productive utilization of assets and chance taking.
Transportation
The Punjab state comprises of a standout amongst other created system of streets in India. Every one of the streets, which are Climate, cleared reach out to dominant part of the towns and this Punjab state is crossed by a few quantities of national roadways. Punjab has an extremely very much created railroad framework served by Northern Railway, which is a piece of national railroad framework. Other than this, there is an accessibility of global airplane terminal in the region of Amritsar alongside an incredible administration of residential aircrafts in Ludhiana and Chandigarh. Different air terminals have a payload benefit too.
Minerals and Energy
The essential mover of Punjab economy is its assets fundamentally vitality and the minerals. Nevertheless, there is a shortage of minerals and in addition vitality assets which is a shocking thing about Punjab. There are potential regions of oil and oil bearing in the nation in Punjab and in addition Assam, Manipur, Tripura, West Bengal, Kutch, Himachal Pradesh and the Andamans.
Sufficient and in addition trustworthy accessibility of vitality and minerals is vital to maintain development in the economy of the state. The Renewable and also non-sustainable wellsprings of vitality are the 2 types of vitality are:-
- The Renewable vitality sources comprise of hydro-control, bio-gas, fuel wood, sun oriented, wind, tidal power and geo-warm power.
- The Non-sustainable power sources can be got from coal, gas and oil.
In the province of Punjab, there is no accessibility of oil wells and coal mines and along these lines the state is fundamentally subject to hydel, warm and sunlight based power. Due to the insufficiency of vitality and minerals, the Punjab assets have been developing exponentially in the field of farming items and in this way, the state is the major agro-monetary segment in the nation. The power type of Energy is the conspicuous contribution for the advancement of economy.
Tourism Sector
The Punjab state is renowned for its way of life, food and intriguing history. Maybe a couple of the unmistakable urban areas in the Punjab state are Amritsar, Ludhiana, Jalandhar and Patiala. The general Population transportation of the state has an incredible framework alongside extraordinary vacationer transportation. The Tourists going by Punjab state may make the most of its way of life, deep sense of being, old development, and history. The state is advanced with religious history and fuses Islam, Sikhism and Hinduism-2/”>Hinduism. The lovely and regal royal residence of Punjab, notable destinations of fight, sanctuaries, place of worship and has excellent Sikh engineering which is appealing.,
Punjab is a state in northwestern India. It is the 20th largest state by area and the 15th most populous state in India. The state is known for its rich culture and history, as well as its agricultural and industrial prowess.
The history of the Punjab economy can be traced back to the Indus Valley Civilization, which flourished in the region from around 2600 to 1900 BCE. The Indus Valley Civilization was a highly developed civilization with a complex economy based on agriculture, trade, and manufacturing.
After the decline of the Indus Valley Civilization, the Punjab region was ruled by a number of different empires, including the Mauryan Empire, The Gupta Empire, and the Mughal Empire. During this time, the Punjab economy continued to grow and develop.
In the 18th century, the Punjab region was conquered by the British East India Company. The British ruled the Punjab for over 100 years, and during this time, the economy of the region underwent a major transformation. The British built roads, railways, and canals in the Punjab, which helped to improve transportation and Communication. They also introduced new crops and agricultural techniques, which helped to increase agricultural production.
After India gained independence from Britain in 1947, the Punjab region was divided between India and Pakistan. The Indian Punjab became a state in the Indian Union, and the Pakistani Punjab became a province in Pakistan.
In the years since independence, the Punjab economy has continued to grow and develop. The state is now one of the most prosperous states in India. The economy of Punjab is based on agriculture, industry, and Services.
Agriculture is the most important sector of the Punjab economy. The state is one of the leading producers of wheat, rice, cotton, and sugar cane in India. The Punjab government has been promoting agricultural development through a number of initiatives, including the construction of Irrigation canals, the provision of subsidies to farmers, and the promotion of new agricultural technologies.
Industry is another important sector of the Punjab economy. The state is home to a number of large industrial companies, including automobile manufacturers, engineering companies, and pharmaceutical companies. The Punjab government has been promoting industrial development through a number of initiatives, including the provision of tax breaks to companies, the construction of industrial parks, and the promotion of foreign Investment.
Services is the fastest growing sector of the Punjab economy. The state is home to a number of educational institutions, hospitals, and IT companies. The Punjab government has been promoting service sector development through a number of initiatives, including the construction of Infrastructure-2/”>INFRASTRUCTURE, the provision of subsidies to businesses, and the promotion of tourism.
The Punjab economy is facing a number of challenges, including the following:
- Water scarcity: The Punjab region is facing a severe water shortage. The State Government has been taking a number of measures to address this issue, including the construction of Dams and reservoirs. However, the water shortage is still a major challenge to the Punjab economy.
- Air Pollution: The Punjab region is also facing a serious air pollution problem. The main sources of air pollution in the state are vehicular emissions, industrial emissions, and agricultural burning. The Punjab government has been taking a number of measures to address this issue, including the introduction of emission standards for vehicles and industries, and the promotion of RENEWABLE ENERGY sources.
- Unemployment: The Punjab economy is facing a high rate of unemployment. The main reason for this is the mismatch between the skills of the workforce and the requirements of the job market. The Punjab government has been taking a number of measures to address this issue, including the provision of vocational training, the promotion of Entrepreneurship, and the creation of jobs in the public sector.
Despite these challenges, the Punjab economy has a number of opportunities. The state has a young and educated workforce, a strong agricultural base, and a growing Industrial Sector. The Punjab government is taking a number of measures to promote Economic Development, including the following:
- Infrastructure Development: The Punjab government is investing heavily in infrastructure development, including the construction of roads, railways, and Airports. This will help to improve connectivity and attract investment.
- Industrial development: The Punjab government is promoting industrial development through a number of initiatives, including the provision of tax breaks to companies, the construction of industrial parks, and the promotion of foreign investment.
- Service sector development: The Punjab government is promoting service sector development through a number of initiatives, including the construction of infrastructure, the provision of subsidies to businesses, and the promotion of tourism.
The future of the Punjab economy looks bright. The state has a number of strengths, including a young and educated workforce, a strong agricultural base, and a growing industrial sector. The Punjab government is taking a number of measures to promote economic development, and these measures are likely to bear fruit in the years to come.
What is the economy of Punjab?
Punjab is a state in northwestern India. It is the second most populous state in India, after Uttar Pradesh. The economy of Punjab is the sixth largest in India, with a gross state domestic product (GSDP) of â¹4.25 trillion (US$57 billion) in 2019â20. The state has a high per capita income of â¹1.83 lakh (US$24,000) and a low POVERTY rate of 6.5%.
The main sectors of the economy of Punjab are agriculture, industry, and services. Agriculture is the largest sector, accounting for 26% of the GSDP. The main crops grown in Punjab are wheat, rice, cotton, and sugarcane. The state is also a major producer of milk and meat.
Industry is the second largest sector, accounting for 24% of the GSDP. The main industries in Punjab are manufacturing, electricity, and gas. The state is also a major producer of automobiles, pharmaceuticals, and textiles.
Services is the third largest sector, accounting for 50% of the GSDP. The main services in Punjab are trade, transport, and communication. The state is also a major tourist destination.
What are the main challenges facing the economy of Punjab?
The main challenges facing the economy of Punjab are:
- Poverty: The poverty rate in Punjab is 6.5%, which is higher than the national Average of 5.7%.
- Unemployment: The unemployment rate in Punjab is 7.5%, which is higher than the national average of 6.1%.
- Infrastructural bottlenecks: The state faces a number of infrastructural bottlenecks, such as poor roads, inadequate power supply, and lack of water.
- Agricultural distress: The agricultural sector in Punjab is facing a number of challenges, such as falling crop prices, rising input costs, and water scarcity.
- Industrial slowdown: The industrial sector in Punjab has been facing a slowdown in recent years. This is due to a number of factors, such as rising costs, competition from other states, and lack of skilled manpower.
What are the government’s initiatives to address these challenges?
The government of Punjab has taken a number of initiatives to address the challenges facing the economy. These include:
- Poverty Alleviation: The government has launched a number of schemes to alleviate poverty, such as the Mahatma Gandhi National Rural EMPLOYMENT Guarantee Act (MGNREGA) and the Pradhan Mantri Jan Dhan Yojana (PMJDY).
- Job creation: The government has launched a number of schemes to create jobs, such as the Make in India initiative and the Skill India initiative.
- Infrastructure development: The government has launched a number of schemes to develop infrastructure, such as the Pradhan Mantri Gram Sadak Yojana (PMGSY) and the Pradhan Mantri Fasal Bima Yojana (PMFBY).
- Agricultural reforms: The government has launched a number of reforms to improve the agricultural sector, such as the introduction of the Direct Benefit Transfer (DBT) scheme and the Pradhan Mantri Krishi Sinchai Yojana (PMKSY).
- Industrial promotion: The government has launched a number of schemes to promote industry, such as the Mega Industrial Parks Scheme and the Single Window Clearance System.
What are the prospects for the economy of Punjab in the future?
The economy of Punjab is expected to grow at a healthy rate in the future. This is due to a number of factors, such as the state’s strong agricultural sector, its growing industrial sector, and its strategic location. The state is also expected to benefit from the government’s initiatives to address the challenges facing the economy.
Which of the following is not a major crop grown in Punjab?
(A) Wheat
(B) Rice
(C) Cotton
(D) SugarcaneWhich of the following is the largest city in Punjab?
(A) Amritsar
(B) Jalandhar
(C) Ludhiana
(D) PatialaWhich of the following is the main language spoken in Punjab?
(A) Punjabi
(B) Hindi
(C) English
(D) UrduWhich of the following is the main religion practiced in Punjab?
(A) Sikhism
(B) Hinduism
(C) Islam
(D) ChristianityWhich of the following is the main export of Punjab?
(A) Wheat
(B) Rice
(C) Cotton
(D) SugarcaneWhich of the following is the main source of irrigation in Punjab?
(A) Canals
(B) Tube wells
(C) Tanks
(D) WellsWhich of the following is the main industry in Punjab?
(A) Agriculture
(B) Manufacturing
(C) Services
(D) TourismWhich of the following is the main river in Punjab?
(A) Sutlej
(B) Beas
(C) Ravi
(D) ChenabWhich of the following is the main mountain range in Punjab?
(A) Himalayas
(B) Pir Panjal Range
(C) Shivalik Hills
(D) Aravalli RangeWhich of the following is the main wildlife sanctuary in Punjab?
(A) Harike Bird Sanctuary
(B) Talwandi Sabo Wildlife Sanctuary
(C) Chhatbir Zoo
(D) Sukhna Lake
Answers:
1. (D)
2. (A)
3. (A)
4. (A)
5. (A)
6. (A)
7. (A)
8. (A)
9. (B)
10. (A)