To analyze the structural change and sectorial performance (Growth of PCY/NSDP) in the economy of Haryana during 1991-92 to 2020-21 Structural change in Economy of Haryana

Deepak Kumar

doi:10.36676/irt.v10.i2.1431

Authors

Deepak Kumar Research Scholar (PhD), Subject Economics NIILM University, Kaithal

DOI:

https://doi.org/10.36676/irt.v10.i2.1431

Keywords:

Structural transformation, Economic diversification, Industrialization, Agriculture productivity

Abstract

Structure and sectoral performance of Haryana's economy from 1991-92 to 2020-21 show considerable changes across sectors. Haryana went from an agricultural economy to a diversified one with strong industrial and service expansion. Agriculture dominated Haryana's economy in the early 1990s, boosting its GDP. High wheat and rice production was the state's specialty. Industrialization changed the state over decades. Gurgaon (now Gurugram) and Faridabad increased industry, drawing investments in vehicles, electronics, and textiles. Urbanization and infrastructural development increased as the state industrialized. Haryana's economic transition also relied on services. As cities like Gurugram became IT and financial services centers, the services industry grew, creating jobs and money. Modern service industries diversified the state's economy by complementing its manufacturing basis. The growth rates of Haryana's sectors varied across these decades, reflecting national economic trends and local governmental actions.

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