Haryana’s Economic Roadmap and Vision for Future Development: Key Takeaways from the 16th Finance Commission Meeting

The 16th Finance Commission, under the leadership of Dr. Arvind Panagariya, held a crucial meeting with Haryana’s Chief Minister Shri Nayab Singh Saini and senior state officials on Monday. The discussion revolved around Haryana’s financial management strategies and the future economic trajectory of the state, which plays a pivotal role in India’s economic landscape.

Shri Nayab Singh Saini, who also holds the finance portfolio, chaired the meeting with his cabinet colleagues, including Chief Secretary Shri Anurag Rastogi, Commissioner and Secretary of the Information, Public Relations, Language & Culture Department Dr. Amit Agarwal, and Director General of the Urban Local Bodies Department Shri Pankaj. The session offered a comprehensive overview of Haryana’s financial policies, economic achievements, and its vision for continued progress.

The Finance Commission was briefed on Haryana’s robust economic performance, including the state’s impressive Gross State Domestic Product (GSDP) for FY 2024–25, estimated at INR 6,77,033 crores. Notably, Haryana ranks second among major Indian states in per capita income at INR 3,53,182, showcasing its economic strength and growing prosperity.

The state’s commitment to agriculture was highlighted by the fact that Haryana is the first state in India to ensure the purchase of all crops at the Minimum Support Price (MSP), a testament to its focus on securing the livelihood of farmers.

The meeting also covered the state’s inclusive development efforts. Haryana’s commitment to poverty alleviation was evident as it has set an annual income threshold of INR 1.80 lakh to identify families below the poverty line. In the healthcare sector, Haryana has successfully covered 61.84% of its population, or approximately 47 lakh families, under the Ayushman Bharat and Chirayu health insurance schemes.

Despite receiving a smaller share from central funds, Haryana’s fiscal deficit and liabilities have remained within the targets set by the Finance Commission. Haryana also contributes significantly to the nation’s GST collections, ranking fifth in India’s total GST revenue generation. Notably, the state leads in per capita GST collections, underscoring its efficient tax administration system.

In terms of sustainable development, Haryana has made impressive strides. The state has advanced from the ‘Performer’ category to the ‘Front Runner’ category in the National Index of Sustainable Development Goals (SDGs), securing the 13th position nationwide for the year 2023–24.

Looking ahead, the 16th Finance Commission was briefed on Haryana’s ambitious plans under the “Mission Haryana@2047” initiative. The goal is to transform Haryana into a one-trillion-dollar economy by 2047, creating 50 million jobs in the process. Key strategies for achieving this vision include fostering a strong startup ecosystem, with the establishment of a ‘Fund of Funds’ and ‘Innovation Hubs.’

To further empower the state’s youth, Haryana plans to launch the ‘Sankalp Authority,’ aimed at youth guidance and drug de-addiction, alongside the establishment of the ‘Department of Future’ to address governance challenges and promote innovation. Additionally, the state’s forward-looking AI-focused initiatives include the creation of an ‘AI Hub’ under the ‘Haryana AI Mission,’ with plans to provide training to 50,000 youth.

Under the leadership of Chief Minister Nayab Singh Saini, Haryana’s government continues to prioritize balanced, inclusive, and sustainable growth. The state’s robust economic performance, progressive reforms, and strategic investments make it a key driver in India’s development trajectory for the decades to come.

Shri Rajesh Khullar, Principal Secretary to the Chief Minister, also spoke about the critical need for adequate central funding to support Haryana’s welfare programs. He highlighted that while the Ayushman Bharat scheme initially covered only nine lakh families in Haryana, the state has expanded the coverage under the Chirayu Haryana scheme to an additional 32 lakh families, fully funding the extra coverage from its own resources.

He urged the Commission to consider the state’s initiatives when reviewing central fund allocations, emphasizing the need for states with large-scale welfare programs to receive state-specific grants. Khullar assured that Haryana will soon submit a detailed memorandum regarding the allocation of central funds for the state’s welfare schemes.

The meeting concluded with a shared commitment to driving Haryana’s economic success in the coming decades. With its strategic investments, focus on innovation, and commitment to inclusive development, Haryana is poised to become a major player in India’s economic future. The state’s proactive steps towards improving the welfare of its citizens and creating a sustainable, inclusive economy are setting the stage for long-term growth.

The discussions at the Finance Commission meeting highlighted not only the state’s current achievements but also its bold vision for a prosperous future, one that aligns with India’s national development goals.