Punjab: The State of the Economy: Punjab is predominantly an agrarian State and the Government is making all out efforts to develop and boost the agro-based industry in the State which is probably the key sector for industrial growth. Through green revolution in the 60’s, Punjab took a major stride in increasing its productivity of food grains, especially of wheat with a yield of 43.04 Qtls. per hectare and rice with a yield of 38.38 Qtls. per hectare during 2014-15. It has contributed to the central pool significantly towards strengthening India's self- sufficiency. During 2014-15, 41.5% wheat and 24.2 % rice to the central pool came from Punjab.

GSDP (Gross State Domestic Product) and Growth Rate:  During the year 2014-15, GSDP (Gross State Domestic Product) at current prices grew at 9.95% over 2013-14.  As per advance estimates, GSDP (Gross State Domestic Product) at current prices is estimated to grow at 11.09% in the current fiscal year (2015-16).  During the year 2014-15, the GSDP at constant prices grew at 4.92% over the provisional estimates of 2013-14.  As per advance estimates, GSDP (Gross State Domestic Product) at constant prices is estimated to grow at 5.96% in the current fiscal year (2015-16).  During the year 2014-15, the GSDP at constant prices from Primary Sector which comprises mainly of agriculture and livestock activities registered a growth rate of (-) 3.40%.  During the year 2014-15, the GSDP at constant prices from Secondary Sector which covers the manufacturing, construction and electricity sectors, registered a growth rate of 3.59%.  During the year 2014-15, the GSDP at constant prices from Tertiary Sector (which comprises of trade, transport, banking and insurance and public administration etc.) registered a growth rate of 8.94%. Sectoral Share in GSDP (at constant prices) Name of Sector Share (in percentage) Primary Sector: 27.22% Secondary Sector: 23.88% Tertiary Sector: 48.90%

Per Capita Income:  The per capita income of the State at current prices is estimated to increase from Rs 105143 in 2013- 14 to Rs 114651 in 2014-15 and is likely to be Rs 126063 for 2015-16, showing an increase of 10.6%.  Punjab state is at 9th position among all the states in India in terms of Per Capita Income. Fiscal Consolidation:  Punjab is well within limits of most of the fiscal targets set by the 13th Finance Commission and under the FRBM Act.  The Fiscal Consolidation path recommended by the 13th Finance Commission and FRBM Act for Punjab and achievements by the State of Punjab is shown in the given below table: Targets and Achievements as percentage of GDP Revenue Deficit Fiscal Deficit Debt Year Targets Achievements Targets Achievements Targets Achievements 2010-11 - 2.35 3.5 3.18 42.5 30.93 2011-12 1.8 2.63 3.5 3.28 41.8 32.06 2012-13 1.2 1.61 3.5 3.17 41.0 31.35 2013-14 0.6 1.66 3.0 2.77 39.8 32.16 2014-15 0.0 1.16 3.0 2.97 38.7 32.27

2015-16 0.0 1.85 3.0 2.99 38.7 30.45

2016-17 0.0 1.76 (B.E) 3.0 2.88 (B.E) 38.7 30.41 (B.E)

 The 14th Finance Commission (FC) in its recommendations has increased the share of Punjab in central taxes from 1.389% to 1.577%.  Reduction in revenue deficit remains a challenge for the State Government in the wake of the implementation of the 5th Punjab Pay Commission recommendations which saw a significant increase in its committed expenditure on salaries and pensions.

Annual Plan Size:  There has been significant improvement in size of approved Annual Plan of the State and its implementation since 2006-07. The approved Annual Plan during 2006-07 was Rs 4,000 crore, which increased to Rs. 21,174 crore in 2014-15. The implementation of Annual Plan was 73% during 2013- 14 and 75% during 2014-15. The likely financial achievement in 2015-16 is 75%.  The size of the Plan is Rs. 25,479crore for the year 2016-17 with an increase of 20% over the previous year’s plan.

Kohinoor Diamond:  The 108-carat Kohinoor, which means Mountain of Light, is a large, colourless diamond that was found near Guntur in Andhra Pradesh during the reign of the Hindu Kakatiya dynasty in the 13th century.  In 1304, it belonged to the Emperor of Delhi, Allaudin Khilji.  In 1339, the diamond was taken back to the city of Samarkand, where it stayed for almost 300 years.  In 1526 the Mogul ruler Babur mentions the diamond in his writings, Baburmama. The diamond was gifted to him by the Sultan Ibrahim Lodi. He was the one who described the diamond’s value equal to half-day production costs of the world. One of the descendants of Babur, Aurangzeb , protected the diamond diligently and passed it on to his heirs. Mahamad, the grandson of Aurangzeb, however, was not a fear-inspiring and great ruler like his grandfather.  The Persian general Nadir Shah went to India in 1739. He wanted to conquer the throne, which had been weakened during the reign of Sultan Mahamad. The Sultan lost the decisive battle and had to surrender to Nadir. It was him the one that gave the diamond its current name, Koh-i-noor meaning “Mountain of light”.  But Nadir Shah did not live for long, because in 1747 he was assassinated and the diamond got to one of his generals, Ahmad Shah Durrani.  A descendant of Ahmad Shah, Shah Shuja Durrani brought the Koh-i-noor back to India in 1813 and gave it to Ranjit Singh (the founder of the Sikh Empire). In exchange Ranjit Singh helped Shah Shuja get back the throne of Afghanistan.  In 1849, after the conquest of the Punjab by the British forces, the properties of the Sikh Empire were confiscated. The Koh-i-noor was transferred to the treasury of the British East India Company in Lahore. The properties of the Sikh Empire were taken as war compensations. Even one line of the Treaty of Lahore was dedicated to the fate of the Koh-i-Noor.  The diamond was shipped to Britain on a ship where cholera broke out and supposedly the keeper of the diamond lost it for some days and it was returned to him by his servant.  The diamond was handed to Queen Victoria in July 1850. After the diamond was handed to Queen Victoria, it was exhibited at the Crystal Palace a year later. But the “Mountain of Light” was not shiny as the other cut gemstones of that era and there was a general disappointment regarding it.  In 1852 the Queen decided to reshape the diamond and it was taken to a Dutch jeweler, Mr Cantor who cut it to 108.93 carats.  Queen Victoria wore the diamond occasionally afterwards. She left in her will that the Koh-i-noor should only be worn by a female queen. If the head of state was a man, his wife would have to carry the diamond. After Queen Victoria’s death, the Kohinoor became part of the Crown Jewels.  The gem, which came into British hands during the colonial era, is the subject of a historic ownership dispute and has been claimed by at least four countries, including India.  The precious stone is estimated to cost over $200 million.  It is not just Kohinoor; nine other famous diamonds left the shores of India and these are now displayed in museums in Washington, Moscow, Paris and Istanbul, besides forming a part of the Iranian crown jewels.  The precious nine, all categorised as legendary diamonds and mined by the Qutub Shahis of the Deccan, are the Hope Diamond, Hortensia, Darya-i-Noor, Noor-ul-Ain, Orlov (also called Orlof), Regent, Sancy, Shah Diamond and Spoonmaker's.  While the 45.5 carat Hope diamond is currently on display at the Smithsonian in Washington DC, the 190 carat Orlov diamond, a bluish-green gem, is now part of Moscow’s Diamond Treasury.  On the other hand, the 140.6 carat Regent, 55.2 carat Sancy and 20 carat Hortensia are now at the Louvre museum in Paris.  Two pink diamonds, the 182 carat Darya-i-Noor and 60 carat Noor-ul-Ain are part of the Iranian crown jewels while the 88.7 carat Shah Diamond and 86 carat Spoonmaker's are housed in the Diamond Fund of the Kremlin and Topkapi Palace in Istanbul respectively. Right To Service Act: Based on the recommendations of the PGRC, the Government of Punjab enacted Right to Service Act in 2011 with a view to provide delivery of 67 services (Now, 351 = 67 originally + 2 added in 2012 + 80 added in 2013 + 37 added in March, 2015 + 165 recently added in 2016) to the people of the state in a time bound manner. Originally 67 services were notified in the Act. The RTS Act – 2011 was enacted with the sole objective of providing an effective frame work for time bound delivery of services being provided by various government departments in order to promote transparency and accountability. The RTS Act-2011 has empowered people to seek services in a hassle free, corruption free, transparent and time-bound manner through different service delivery mechanism. This ensures that people take maximum advantage of time bound service delivery system. The services delivered within the prescribed time limits and without any hassle enhances credibility of the government functioning. Punjab is the first state in the country that introduced the element of accountability by enacting the RTS Act. As per Section 12 of the PRTS Act-2011, Punjab Right to Service Commission (PRTSC) has been constituted consisting of 1 Chief Commissioner and 4 Commissioners who looks after the task of effective implementation of the Act. PRTSC has been entrusted with the task of making suggestions to the state government for ensuring better delivery of services.