Post-reform economic development in Punjab: constraints and remedies

Abstract

Punjab economy has experienced a down turn in its economic development in the post-reform period compared with acceleration of economic growth of the Indian economy as well as other dynamic states. Therefore, a legitimate question arises why Punjab economy could not develop at a rate that has experienced by the Indian economy. An attempt has been made in this paper to explore economic development experience of Punjab economy in a comparative perspective to arrive at the factors that have contributed to the down turn in economic growth during the post-reform period. Alternative path of structural transformation has been worked out to rejuvenate and rebuild the economy of Punjab in the long run. Policy suggestions that can reverse the down turn in economic growth in short to medium term have also been identified.Punjab economy, economic development, deceleration of economic growth, Structural transformation, alternative path of development