Himachal Pradesh Economy and Industry

The process of economic and social development was started in 1948 and a sum of Rs.5.27 crore was allocated to the state in the first Five Year Plan. Himachal Pradesh is credited with rapid transformation from the worst form of feudalism to democracy and from the most backward state of the country to one of its most advanced states. The state now ranks fourth in respect of per capita income among the states of the Indian Union.