Haryana: High on per capita income, low on employment

Its economic character is of a developed state but the investment towards asset creation is unexceptional. An analysis by ANOUSHKA SAWHNEY & ASHLI VARGHESE

- ANOUSHKA SAWHNEY & ASHLI VARGHESE

Haryana, which will go to the Assembly elections on October 1, stands out as a state having relatively high per capita income. Yet, it faces a stubbornly high unemployment rate, coupled with limited investment in asset creation relative to the size of its economy.

Over the past decade, the state has maintained a per capita income consistently higher than the national average - by around 70 per cent. In 2023-24, the gap was projected to have expanded even further, reaching 77.8 per cent. Though the per capita income figure for 2023-24 was Advance Estimates and not Actual, the data from 2022-23, showing a 75 per cent differential, underscores its prosperity.

Haryana's per capita income is surpassed only by Goa, Sikkim, Delhi, Karnataka, and Telangana.

Its economic growth at 7.9 per cent in 2022-23, outpaced the national rate of 7 per cent. The state's government had pegged 8 per cent as the target growth for 2023-24, slightly trailing India's 8.2 per cent. This partially can be attributed to Haryana's already high growth base.