Challenges To Punjab Economy

This volume looks at the challenges faced by the economy and society in Punjab, India. It probes into the economic issues, institutional development, and resources imbalance faced by the Punjab economy. It discusses regional research problems and futuristic approaches for a developing economy. The essays in this volume: focus on comprehending economic challenges, agrarian structure and development - markets, R&D and public policy; manufacturing sector: opportunities and possibilities examine labour, caste and gender trajectories, exploring the question of freedom and livelihood; human, social and financial resources development; hunger, diet and disease: challenges for development paradigm present the macro and micro facets of development processes in the region and offer a way forward for long-run growth, sustainability and inclusiveness amidst the dynamic fast changing economies across the globe Comprehensive and analytical in its approach, this volume will be of interest to young researchers, scholars, practitioners and policymakers working in the fields of Development Economics, Regional Economics, Evolutionary Economics, Sustainable Economics, Agrarian Development, Manufacturing, and Labour.

This book offers a comprehensive analysis of the pre-Covid-19 and post-Covid-19 situation and public policy measures needed to revive the economy in the light of the recent initiatives by the state government, including a committee to suggest post-Covid-19 revival strategy. This collection of essays by specialized author/s in her/his/their area of research examines the impact of Covid-19 in the larger context of economic and developmental context of Punjab, ranging from basic developmental transformation analysis to the specific policy issues in each sector and policy domain, including the larger developmental crisis in the context of the regional economy and society of Punjab. The sectors analysed include: agriculture including dairy sector and agricultural markets, industry, services, education, health, besides fiscal, banking, diaspora, gender, governance, and sustainability challenges the state economy faces. It dwells on sector specific issues as well as ways forward for betterment of livelihoods of those engaged, especially farmers and industrial and service sector informal workers.

This volume looks at the challenges faced by the economy and society in Punjab, India. It probes into the economic issues, institutional development and resources imbalance faced by the Punjab economy. It discusses regional research problems and futuristic approaches for a developing economy. The chapters in this volume: focus on comprehending economic challenges, agrarian structure and development; markets, R&D and public policy; manufacturing sector; opportunities and possibilities; examine labour, caste and gender trajectories, exploring the question of freedom and livelihood; human, social and financial resources development; hunger, diet and disease; challenges for development paradigm; present the macro and micro facets of development processes in the region and offer a way forward for long-run growth, sustainability and inclusiveness amidst the dynamic fast-changing economies across the globe. Comprehensive and analytical in its approach, this volume will be of interest to young researchers, scholars, practitioners and policymakers working in the fields of Development Economics, Regional Economics, Evolutionary Economics, Sustainable Economics, Agrarian Development, Manufacturing and Labour.

Foreword by Prof. Kaushik Basu This book traces the development experience of one of India’s most dynamic and prosperous states, Punjab, which has provided the country with a much-needed degree of food security. The relative regression of Punjab’s economy in the post-economic reforms period and slow current economic growth give cause for concern. The contributions in this book address the question of why the structural transformation of Punjab’s economy has fallen into the middle-income trap. Each investigates the policy constraints influencing the relative stagnation of the economy and suggests appropriate measures for alleviating them. By integrating theoretical constructs and new evidence, the authoritative contributions diagnose the nature of the current problems and offer practical solutions. They cover important issues such as the crisis of agrarian transition, agrarian markets and distributive justice, employment growth and transition to non-agriculture sectors, fiscal policy, external factors in economic transformation, and perspectives on rejuvenating the state’s economy.

The book unravels how the implementation of certain socio-economic programmes unleashed tremendous negative forces which are now threating the stability of the nation-state. It is a very rewarding and fascinating study. In emerging political scenario the regionalism has come to fore and is likely to play a very crucial role in shaping the density of india. The study removes many cobwebs and helps in seeing futuristic reality more clearly. The lessons learnt in the Punjab would help avoiding the pitfalls in the path of economic development in other states of the Union. The experience gained in the Punjab would be of interest to all the Third World countries also.

For many years, agricultural development in Punjab symbolised one of the most successful experiments in rural development. However, this success story seems to be going astray. The crux of the problem, this volume suggests, is that externally driven modernization to meet national food needs pushed Punjab into highly specialized production of wheat and rice, resulting in over-utilisation of natural resources with adverse environmental consequences that jeopardizing the long-term viability and sustainability of the agrarian economy. Stagnating productivity, reduced farm size, falling household incomes, depleting groundwater resources, are only a few of the problems that characterise Punjab’s agriculture today. The book establishes clearly that rural development implies more than transformation of traditional agriculture. Apart from ensuring efficient use of limited resources to sustain agricultural production, rural policy should encompass promotion of non-farm activities, investments in social and economic structure and civic amenities.

Growth of the Punjab economy since 1960/61; Method of compilation and sources of data; Structural features of the Punjab economy; Linkage analysis of the Punjab economy; Income and employment multipliers in the Punjab economy.