Economy
The historical region of Punjab is considered to be one of the most fertile regions on Earth. Both east and west Punjab produce a relatively high proportion of India and Pakistan's food output, respectively. The agricultural output of the Punjab region in Pakistan contributes significantly to Pakistan's GDP. The region is important for wheat growing. In addition, rice, cotton, sugarcane, fruit and vegetables are also major crops. Both Indian and Pakistani Punjab are considered to have the best infrastructure of their respective countries. The Indian Punjab has been estimated to be the second richest state in India. The Pakistani Punjab produces 68% of Pakistan's food grain production. Its share of Pakistan's GDP has historically ranged from 51.8% to 54.7%.
Called "The Granary of India" or "The Bread Basket of India", Indian Punjab produces 1% of the world's rice, 2% of its wheat, and 2% of its cotton. In 2001, it was recorded that farmers made up 39% of Indian Punjab's workforce.
Read more about this topic: Punjab Region
Famous quotes containing the word economy:
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)