Economy, jobs and prices in Punjab, India: official figures
Net state domestic product per person, the usual measure of average income, was ₹221,197 in 2024-25 at current prices; 13th highest of 25 with figures. Five years earlier it was ₹154,385, a rise of 43% before inflation.
Is Punjab's economy growing?
After allowing for inflation (2011-12 prices), income per person grew 4.5% in 2024-25; 2nd slowest of 25 with figures.
Source: Reserve Bank of India · saved copyHow big is Punjab's economy?
The state's economy (gross state domestic product) was worth ₹8.39 lakh crore (₹8.39 trillion) in 2024-25 at current prices, 8.7% more than a year earlier.
Source: Reserve Bank of India · saved copyWhat are the main industries in Punjab?
In 2024-25 services made up 48.4% of the value added in Punjab's economy (12th lowest of 25 with figures), manufacturing 16.5% (8th highest of 25 with figures) and crop farming 12.9% (8th highest of 25 with figures), at current prices.
Source: Reserve Bank of India · saved copyHow much food does Punjab grow?
Farmers in Punjab produced 32,777,700 tonnes of foodgrains (rice, wheat, other cereals and pulses) in 2024-25, 9.2% of India's harvest; 3rd largest of 31 with figures.
Source: Reserve Bank of India · saved copyWhat is the unemployment rate in Punjab?
Unemployment in Punjab in 2023-24 was 5.4% in rural areas and 5.6% in towns and cities (usual status, Periodic Labour Force Survey); all-India: 2.5% rural and 5.1% urban. Urban unemployment was 12th lowest of 35.
Source: Reserve Bank of India · saved copyHow much do farm workers earn in Punjab?
A man working as a general farm labourer in rural Punjab earned on average ₹421 a day in 2024-25 (all-India: ₹398); 8th highest of 19 with figures. Rural day rates for men were ₹438 for construction workers and ₹406 for non-farm labourers.
Source: Reserve Bank of India · saved copyWhat is inflation in Punjab?
Consumer prices in Punjab rose 4.2% on average in 2024-25, and food and drink prices by 6.1% (all-India: 4.6%). Over the same year fuel and light prices fell 1.5% and urban housing costs rose 3.4%.
Source: Reserve Bank of India · saved copyDo banks lend in Punjab?
Commercial banks in Punjab held ₹6.69 lakh crore of deposits at the end of March 2025, about ₹214,500 per resident, and had lent ₹4.10 lakh crore: a credit-deposit ratio of 58.5% (all-India: 80.1%; 17th highest of 36). A low ratio means local savings are mostly lent elsewhere.
Source: Reserve Bank of India · saved copyMore figures
- Punjab produced 14,000,000 tonnes of milk in 2023-24, 5.9% of the national total. Source: Reserve Bank of India · saved copy
- Indian tourists made 27.75 million visits to Punjab in 2024 (0.9% of all domestic tourist visits; 16th most of 36). Source: Reserve Bank of India · saved copy
- Electricity available per person was 2,503 kWh in 2024-25 (all-India: 1,208 kWh). Source: Reserve Bank of India · saved copy
- 14.2% of the electricity fed into Punjab's grid was lost in transmission and distribution in 2022-23, through technical losses, theft and unbilled supply (all-India: 17.7%). Source: Reserve Bank of India · saved copy
- NITI Aayog scored Punjab 76 out of 100 on the Sustainable Development Goals India Index in 2023; joint 7th highest of 36. Source: Reserve Bank of India · saved copy
How Punjab compares with other states
Income per person (NSDP per capita, current prices) (2024-25)
Punjab ranks 13 of 25, highest first.
| Rank | Region | Income per person (NSDP per capita, current prices) |
|---|---|---|
| 10 | Andhra Pradesh | ₹266,240 |
| 11 | Himachal Pradesh | ₹256,137 |
| 12 | Arunachal Pradesh | ₹246,813 |
| 13 | Punjab | ₹221,197 |
| 14 | Tripura | ₹192,842 |
| 15 | Rajasthan | ₹185,053 |
| 16 | Odisha | ₹168,966 |
Urban unemployment rate (usual status) (2023-24)
Punjab ranks 24 of 35, highest first.
| Rank | Region | Urban unemployment rate (usual status) |
|---|---|---|
| 21 | Andhra Pradesh | 5.9% |
| 22 | Jharkhand | 5.8% |
| 23 | Uttarakhand | 5.8% |
| 24 | Punjab | 5.6% |
| 25 | Maharashtra | 5.2% |
| 26 | Karnataka | 4.2% |
| 27 | Tamil Nadu | 4.1% |
Services share of the economy (GSVA) (2024-25)
Punjab ranks 14 of 25, highest first. Share of gross state value added at current prices.
| Rank | Region | Services share of the economy (GSVA) |
|---|---|---|
| 11 | Haryana | 53.9% |
| 12 | Tamil Nadu | 53.6% |
| 13 | Arunachal Pradesh | 48.7% |
| 14 | Punjab | 48.4% |
| 15 | Uttar Pradesh | 47.3% |
| 16 | Himachal Pradesh | 46.4% |
| 17 | Uttarakhand | 46.0% |
Bank credit-deposit ratio (place of sanction) (March 2025)
Punjab ranks 17 of 36, highest first. Loans made in the state per ₹100 of deposits held there.
| Rank | Region | Bank credit-deposit ratio (place of sanction) |
|---|---|---|
| 14 | Haryana | 68.4% |
| 15 | Karnataka | 67.7% |
| 16 | Assam | 62.7% |
| 17 | Punjab | 58.5% |
| 18 | Jammu and Kashmir | 56.9% |
| 19 | Andaman and Nicobar Islands | 52.2% |
| 20 | Nagaland | 52.1% |
More on Punjab: overview · health · education and schools · poverty and living standards · government budget · India
Sources
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 153: State-wise Credit-Deposit Ratio of Scheduled Commercial Banks - According to Place of Sanction, read 23 October 2026 · saved copy (SHA-256 536e5d4415d4…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 108: State-wise Average Inflation (CPI) - General, read 23 October 2026 · saved copy (SHA-256 1dd5a612f16c…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 62: State-wise Production of Total Foodgrains, read 23 October 2026 · saved copy (SHA-256 7674a11e229b…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 21: Gross State Domestic Product (Current Prices), read 23 October 2026 · saved copy (SHA-256 307860e934ba…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 91: State-wise Milk Production, read 23 October 2026 · saved copy (SHA-256 3607285ce982…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 19: Per Capita Net State Domestic Product (Current Prices), read 23 October 2026 · saved copy (SHA-256 1f90818b79f1…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 20: Per Capita Net State Domestic Product (Constant Prices), read 23 October 2026 · saved copy (SHA-256 0861a3b6a0df…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 138: State-wise Per Capita Availability of Power, read 23 October 2026 · saved copy (SHA-256 3004b58b5f81…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 106: State-wise Sustainable Development Goals (SDGs) Score, read 23 October 2026 · saved copy (SHA-256 f18c2f57a295…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 49: Gross State Value Added by Economic Activity - Services (Current Prices), read 23 October 2026 · saved copy (SHA-256 231843665df0…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 148: State-wise Electricity Transmission & Distribution Losses, read 23 October 2026 · saved copy (SHA-256 7ba079aa2389…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 13: State-wise Domestic Tourist Visits, read 23 October 2026 · saved copy (SHA-256 14ecc37284d7…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 9: State-wise Unemployment Rate: Usual Status (Adjusted) (Urban), read 23 October 2026 · saved copy (SHA-256 4eef6c004595…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 113: State-wise Average Daily Wage Rates in Rural India (Men - General Agricultural Labourers), read 23 October 2026 · saved copy (SHA-256 6f4995aec2fa…)
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