Reviving Punjab''s economy

Abstract

The economic position of Punjab has been gradually deteriorating for nearly two decades as can be easily seen from the per capita income (PCI). The economic position of Punjab has been gradually deteriorating for nearly two decades as can be easily seen from the per capita income (PCI). Illustratively, Punjab recorded the highest PCI in 1993-94 amongst all the major states but by 1997-98 Maharashtra overtook Punjab. By 2003-04 the PCI of Punjab was lower than that of Maharashtra and Gujarat. Then by 2013-14 even Haryana, Tamil Nadu, Kerala, Sikkim and Himachal Pradesh overtook Punjab. Other growth indicators like the unemployment rate in Punjab are significantly higher than all the above mentioned states except Kerala. On the child-sex ratio, which has implications for future workforce participation, Punjab's record is dismal amongst many states except Haryana. This unidirectional decline in the relative economic position of Punjab has implications for employment and welfare of the local population. The secular decline can also be self-fulfilling as growth-oriented new investment in industry, construction, hotels, tourism and other supporting services move to richer states and regions in pursuit of better opportunities and higher returns. Read more at: https://www.tribuneindia.com/news/archive/comment/reviving-punjab-s-economy-63656