Punjab is due for its Assembly elections on February 4, and for the first time, the state is witnessing a serious three-corner fight on most seats. The new contender, the Aam Aadmi Party (AAP), is giving a tough fight to the principal Opposition, the Congress, where the ruling Akali-BJP alliance is facing a strong anti-incumbency after a 10-year rule. The Opposition has accused the ruling alliance of corruption and misgovernance. In a five-part series, Business Standard analyses the performance of poll-bound states on economic and social parameters. The first part takes a look at Punjab.