Economy of Punjab, India
The economy of Punjab is the 16th largest state economy in India with ₹8.02 lakh crore (US$100 billion) (FY2024-25) in gross domestic product and a per capita GDP of US$3460(264,000) ranking 19th amongst Indian states.
| Currency | Indian Rupee ₹ |
|---|---|
| 1 April – 31 March | |
| Statistics | |
| Population | Around 27.7 million (2011 Census of India) |
| GDP | ₹8.02 lakh crore (US$100 billion) (2024–25) |
| GDP rank | 16th |
GDP growth | 9.5% (2023–24) |
GDP per capita | US$3,338 (2024-2025) |
GDP per capita rank | 19th |
GDP by sector | Agriculture 25% Industry 25% Services 50% (2020-21) |
| |
| 6.0% (as on 12 July 2019) | |
Population below poverty line | 8.26% (2017–18) (5th) |
| 0.794 medium (2021) (10th) | |
| Unemployment | 5.9% (2023–2024) (13th) |
| Public finances | |
Government debt | 49.3% of GSDP (2021–22 est.) |
| ₹−24,828 crore (US$−3.1 billion) (3.9% of GSDP) (2021–22 est.) | |
| Revenues | ₹88,050 crore (US$11 billion) (2020–21 est.) |
| Expenses | ₹1.55 lakh crore (US$19 billion) (2020–21 est.) |
Punjab ranked first in GDP per capita amongst Indian states in 1981 and fourth in 2001, but has experienced slower growth than the rest of India in recent years, having the second-slowest GDP per capita growth rate of all Indian states and UTs between 2000 and 2010, behind only Manipur. Between 1992 and 2014, Punjab's life expectancy also grew slower than most Indian states; while rising from 69.4 to 71.4 years, Punjab's rank amongst Indian states in life expectancy at birth fell from first to sixth.
The state's economy is mainly dominated by agricultural production and small and medium-sized enterprises. Punjab has the ninth highest ranking among Indian states and union territories in human development index as of 2018.