Aneconomy consists of the economic system of a country or other area; the labour, capital and land resources; and the manufacturing, trade, distribution, and consumption of goods and services of that area. An economy may also be described as a spatially limited and social network where goods and services
Awarded National productivity award for agriculture extension services for consecutives ten years from 1991-92 to 1998- 99 and 2001 to 2003-04. Best place of doing business in India as per world bank study 2009. Best states in India in terms of road , rail and transport network as per national council of applied economic research 2007
Agriculture Industry ForestryReal estate Minerals Livestock
Agriculture has always been less payingAgriculture is not doing well in terms of itsproductivityVillagers are migrating towards citiesFarmers are selling their land and populationpressure on landLess scope of market agricultural productsOver regulation of domestic agricultural tradeLimited technologyMarginalization of small farmers
Industries and infrastructure of a state serves as an index of its economic growth
Punjab industrial performance up to the end of 1980 was much better than that of country as a whole Punjab is home to many large Indian companies and MNC’s like RANBAXY, hero group, Avon cycles , Gujarata ambuja, trident group, rail couch factory [kapurthala] , sonalika, M&M, godrej, Philips, Oswal wooden mills, HCL, nestle, Quark, IDS InfoTech
MACHINERYAGRO BASED INDUSTRIES SUGAR ANDCHEMICAL DAIRYINDUSTRIES INDUSTRIES COTTON TEXTILES AND HOSIERY INDUSTRIES
Land rates Lack of modernization in SSI Power problem Labour problem Finance problems Administrative hassles of vat Less subsidies CST high in Punjab 2%
More than 60% of population is in agriculture field and enjoying concession on tax as no tax on agriculture income means Punjab government earning in tax form is less so the expenditure on developments is ultimately less. In case of yarn Haryana & chd have lower tax rate[1%] while Punjab have [4%]. If yarn is exported to other states from Punjab CST 2%
Corruption flourishes in Punjab. You have a chief ministerwho states at a public function in Jalandhar, reacting toAnna Hazares campaign against corruption, that he usesblack money in elections. Then, looking his audiencestraight in the eye, he asserts that the corrupt must eitherbe hanged or sent to prison for 20 years. Being the mostsuccessful individual in this field, perhaps he has apreference? What he did not, however, explain to hisaudience was how a farmer, owning 80 acres when hisfather died, could today own assets worth over Rs 2,000crore. An 89-year-old chief minister, on the verge ofsenility, living his second childhood as a benevolentMaharaja Ranjit Singh, holding a daily durbar to satisfy hischildhood ego, while presiding over the most incompetentand corrupt government in the history of the State, is notwhat Punjab deserves.
POVERTY HIGHEST IN PUNJAB-NFC TOLD-PUNJAB NEEDS MOREMONEY…..OH YES
IN PUNJAB THERE ARE ABOUT 46 LAKHS FAMILIES BUT 13 LAKHS FAMILIES ARE UNDER POVERTY LINE
Nearly 45 Lakhs including youth are without JOBS in Punjab of 2.72 Crores.
Brain drain is also known as“The human capital flight”. It CAUSES OF BRAIN DRAINcan be simply defined as themass emigration of technicallyskilled people from one countryto another country. This •LACK OFphenomenon of brain drainhas a conversed effect for a OPPURTUNITIEScountry in which people aregetting migrated and brain- •LESS INCOMEdrain of a nation becomesbrain-gain for that particular •POOR STANDARDcountry. Usually all developingcountries including India are OF LIVINGsuffering from brain drain anddeveloped countries like USAare having brain gain from thisphenomenon.
DEBTPUNJAB IS UNDER DEBTOF RS. 71086 CRORESWHICH IS LIKELY TO GOUP TO RS. 80000 CRORESBY THE TIME WE GETNEW GOVERNMENT ASTHIS GOVERNMENTCONTOINUES TOBORROW………..
There are many other things which affect economy badly ……. 1…Main POPULATION which is uncontrollableand affects whole the economy to a large extent. 2…Water problem 3…over mechanization of agriculture 4…irrational pattern of investment 5…DRUGS
INVESTING Rs.55620 Cr IN NEW POWER PROJECTS AT GIDDERBAHA, TALWANDI SABO, RAJPURA AND GOINDWAL SAHIB WHICH WILL MAKE PUNJAB A POWER SURPLUS STATE BY 2012 PUNJAB IS HEADING TOWARDS BECOMING ONE OF THE PROMINENT TOURIST AND BUSINESS DESTINATION IN SOUTH ASIA WITH INCREASE IN AVIATION SERVICES. THE GOVERNMENT HAS ALLOWED INTERNATIONALFLIGHTS FROM MOHALI AIRPOT, DOMESTIC FROM SAHNEWAL AIRPORT. ECONOMIST OF REGION HAVE ISSUED AN APPEAL TO UNION GOVERNMENT FOR PROVIDING COMPENSATORY SPECIAL INVESTMENT PACKAGE OF Rs. 50000 CRORES FOR REJUVENATING PUNJAB ECONOMY IN NEXT 5 YEARS VAT & CST collection target for 2011-12 1400 Cr. per year
Guru Gobind Singh Refinery Bathinda Gobind Singh RefineryTotal Investment Guru Bathinda to be operationalbe operational in 2011 to in 2011 Total Investment 20,819 Cr. HEALTH CARE FACILITIES FOR Cr MODERN 20,819 ALL in Just four years Super Speciality Max Hospital at Bathinda 100 Cr. Super Speciality Max Hospital at Mohali 100 Cr.MODERN HEALTH CARE FACILITIES FOR ALL in Justfour yearsSuper Speciality Max Hospital at Bathinda 100 Cr.Super Speciality Max Hospital at Mohali 100 Cr.
Reviving Pristine Glory of SportsSports InfrastructureHockey Stadium and Multiple stadium to be setup in 15 District 1424 Cr.5 new Astroturfs are being laidCOMMITMENT TOWARDS SOCIAL SECTOR - 3479 Cr. Pension Scheme for Old Age, Widows & Handicapped 1679 Cr.
Department of Local GovernmentE- Governance•Municipal Services will be available online•360 Citizen facilitation centres to be openedOther Major Key ReformsIndustry Portal for online filing of applications with Helplinee-Filing of VAT returnse-Tendering in 7 Dept implemented and others being coveredunder phased manner.Online Payment of Electricity billsE-Gram Centres in all Panchayats circles for effective monitoring of schemes3037
WHAT IMPLICATIONS WOULD THESE PROCESSES HAVE FOR THE MANNER IN WHICH WE HAVE IMAGINED PUNJAB- WITHIN NATIONAL AND GLOBAL CONTEXTS?????????? WILL THE PROCESS OF GLOBALIZATION AND NEW TECHNOLOGIES ENABLE PUNJAB TO HAVE A NEW IMAGE????? HOW WOULD LOOSENING OF BORDER AND OPENING OF TRADE ROUTES INFLUENCE ECONOMY OF PUNJAB????? WOULD THE DECLINE OF AGRICULTURE AND RAPID URBANIZATION OF THE STATE DEVELOP A NEW MIDDLE CLASS IMAGERY OF THE STATE????????