Haryana Quiz: Economy and State Budget of Haryana

As in India as a whole, the services sector, which covers trade, transport, real estate, finance, information technology and public administration, contributes the largest share of Haryana's gross state value added, and the corporate and information technology economy of Gurugram is a large part of it.

Lying in the National Capital Region next to Delhi, Gurugram holds the state's largest concentration of information technology and business process management firms, corporate head offices, malls and high-value real estate, and it also has car manufacturing, so it yields the biggest share of the state's goods and services tax…

Panipat is called the city of weavers and is a national centre for handloom products such as blankets, carpets, durries and furnishings, much of it made from recycled yarn, and the trade grew after refugee weavers settled there following Partition.

The Panipat refinery, commissioned in 1998, is an Indian Oil refinery and is the only refinery in Haryana; a naphtha cracker and petrochemical complex were later built alongside it, which makes Panipat an energy and petrochemical centre as well as a textile town.

Article 202 requires the Governor to cause the Annual Financial Statement, the estimated receipts and expenditure of the state for a financial year, to be laid before the House or Houses of the legislature, and this statement is what is called the budget of Haryana.

After the legislature votes the demands for grants, an Appropriation Bill is introduced under Article 204 to authorise withdrawal from the Consolidated Fund of the State for the granted sums and for the charged expenditure, and no money may leave that fund without such an Act.

Article 293 allows a state to borrow within India on the security of its Consolidated Fund, within limits set by its legislature, and requires the consent of the Government of India for any further borrowing while a loan made by or guaranteed by the Centre is still outstanding, a clause…

Haryana enacted its Fiscal Responsibility and Budget Management Act in 2005, following the Twelfth Finance Commission's advice that states pass such laws to qualify for debt relief; the Act commits the state to keep its fiscal deficit within about 3 per cent of gross state domestic product, to eliminate the…

The company's long-standing Haryana plants are at Gurugram and at Manesar, which lies on the Delhi-Jaipur highway in the same district and grew into an industrial model township around the car plant and its component suppliers, making the Gurugram-Manesar belt the centre of India's passenger car making.

Launched in 2020, Mera Pani Meri Virasat offers an incentive per acre to farmers in blocks where groundwater has fallen sharply if they replace water-hungry paddy with crops such as maize, pulses, cotton or vegetables, or take up agroforestry; the aim is crop diversification to save the aquifer.