Reviving the Punjab economy

Abstract

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, over-emphasis on rice and wheat cultivation since early 1970s has led to this grim state of socio-economic 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. The need is to identify the problem after thorough diagnostic tests and create a road map for reviving the Punjab economy.