An Assessment of Haryana Economy after Enactment of FRBM Act 2005

Haryana is known as an agrarian state of India. It is the second-largest contributor of food grains to India's central pool. Its economic growth rate is exemplary with excellent average annual growth rate of 8.8% during the period of last 8 years (2005–06 to 2012–13). Haryana is geographically a small state but it contributes nearly 3.4 per cent to India's GDP (according to quick estimates of 2012–13). As per advance estimates of 2013–14, per capita income of Haryana at current price is Rs 135007. The state economy grew at an annual growth rate of 9.5 per cent during eleventh five year plan and government estimates a growth rate of 10% to 10.5% in twelfth five year plan. Haryana is one of the states with almost 100 per cent connectivity of rural areas with metalled roads. It is one of the leading states in terms of industrial production and has emerged as a base for the knowledge industry. The Gross State Domestic Product (GSDP) of Haryana continues to grow at a pace much faster than the GDP of the country. This paper assesses the economic health of Haryana by analysing Fiscal Deficit, Revenue expenditure, Capital Expenditure, Per Capita Income, Interest Payment and GSDP between 2005–06 to 2014–15.