Reviving the Punjab Economy
33 Pages Posted: 21 Apr 2017
Date Written: April 20, 2017
Punjab has been in the forefront of providing food security to the nation but now it needs help as the per capita income of Punjab, from the highest in the country in 2000 is now much below that of Maharashtra, Gujarat, Tamil Nadu, Kerala, Karnataka and Haryana. The high unemployment rate in Punjab is also a cause of concern with many youths increasingly resorting to drugs. Punjab economy is ailing as water level is rapidly falling and quality of soil is deteriorating. Consequently, Punjab, once very prosperous, is now the cancer capital of India. Probably, overemphasis on rice and wheat cultivation since early 1970s has led to this grim state of socioeconomic situation. Therefore, there is a need to examine the alternate models of growth from mono-emphasis on agriculture to a balanced approach where agriculture, industry and services have a role to play. Also, probably, as a policy, dependence on rice and wheat has to be reduced in a phased manner, and alternatives like floriculture and horticulture need to be explored. There is no country in the world or another state within India that can escape industrialization while nurturing the hope of high economic growth. Similarly, for a growing economy, role of services is very important.
Keywords: Punjab, Growth Strategies, Per-Capita Income, Development Policy
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