Punjab Becomes Best State in Transition Economy

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5 Dariya News

New Delhi/Chandigarh , 01 Oct 2015

Punjab today secured top position in the country as it was declared No.1 state in the Transition Economies during 'Mint State competitiveness Award' held here. This award was bestowed upon Punjab on the basis of a detailed study conducted by Economic Daily in association with Harvard Professor Michael Porter's Institute of Competitiveness.Punjab has been recognized for its ability to provide a good overall environment for business besides establishing world class infrastructure in all sectors. It was also described that Punjab has had both good factors namely Land, Labour and Demand (high consumption level) vis-à-vis overall best in context of strategy.K. Shiva Prasad, Resident Commissioner in New Delhi received the award on behalf of Punjab Government, which termed that Punjab had emerged as most competitive states in India in the category of Transition Economies. This border and landlocked state has been recognized from States at a moderately high level of development terming Transition Economies, which have per capita GDP level in the bracket of $1300-1600, in which Punjab has emerged as winner.Immensely overwhelmed after receiving the award on the behalf of Punjab Government, Mr. Prasad said that although Punjab had have only 1.5 percent of country's geographical area yet it has scripted new histories by contribution more than 60 percent in the national food kitty. He said that more than 80 percent land of the state was under cultivation compared with the national average of 40 percent with major industries of tractors, auto components, bicycle and its parts, Sports goods and textiles and agro industries. Describing award as a acknowledgement phenomenal strides being registered by Punjab in the field of infrastructure, industrial development, agriculture and Power sector etc, Mr. Prasad said this recognition has put a stamp of approval on unprecedented development witnessed by the state during last 8 years. He said that Punjab Government had envisioned Punjab as No. 1 state in all sectors in 2007 and it had achieved a lot by becoming No.1 in various fields. He said that now Punjab is all set for another giant leap in Industrial and Investment sector by hosting its second Invest Punjab Summit on October 28 and 29, where business tycoons from different parts of world would participate.Appreciating the tireless and constant efforts being put in process by Punjab Chief Minister Mr. Parkash Singh Badal and Deputy Chief Minister Mr. Sukhbir Singh Badal to take Punjab to new heights of development, Mr. Prasad said that Punjab has become Power Surplus state due to visionary and result oriented functioning of Punjab government. He said that Punjab has got its second international airport at Mohali, recently inaugurated by Prime Minister Mr. Narendra Modi, and world class physical infrastructure would further accelerate the pace of development in the state.