Punjab's Net State Domestic Product (NSDP) stood at US$ 8.6 billion in 2004
and has been growing at a Compounded Annual Growth Rate of 4.06 per cent since
1998.
Source: Punjab Statistical Abstract 2003 and Punjab Budget
In Punjab, agriculture accounts for 38 per cent of the Gross Domestic Product
(GDP), reflecting a huge scope for developing industry and services sectors in
the state. Between 1994 and 2003, the industrial sector in Punjab grew at 5 per
cent per annum while the services sector grew at 7 per cent per annum.
Punjab has consistently been ranked first in the country on the
Infrastructure Development Index. According to Centre for Monitoring Indian
Economy (CMIE) report (2000-01), on a national average of 100, Punjab's relative
infrastructure index was the highest at 186.
In 2004, the state enjoyed a per capita income of US$ 574. Punjab ranked
second on the Human Development Index, in the Human Development Report (2001),
reflecting a strong performance on the social development front.
Punjab has been focusing on developing its human resources by building
skills.The Census (2001) reflects that the state has been successful in
diverting its workforce to non-agricultural activities. Of its total workforce,
only 39.36 per cent workers were found to be cultivators or agricultural
labourers.
Source: Punjab Economic Survey 2003-04
