Economic Development in Punjab

Economic globalisation and domestic structural adjustment programmes have opened up many development and social sectors to new competition and policy changes in the developing world. In this context, a book on Punjab’s economic development in the era of globalisation is very timely. The volume is divided into seven parts with a total of 15 papers, and an introduction by the editors.

The editors describe the history of Punjab and the course of its growth and development mainly due to the Green Revolution. They argue that despite the Green Revolution, the state continues to be heavily dependent on agriculture. They highlight the various effects of Green Revolution on the standard of living and poverty. The agrarian crisis in Punjab which had set in during the 1970s continues and the political turmoil at the same time has upset the normal course of economic development in the state. They also identify two main responses to this crisis of capitalist economic development. One view emphasised long-run sustainability based only on agricultural growth, resulting in increased policy focus on the agricultural sector. Another view suggested moving away from agriculture to industrial development. The introductory chapter highlights different perspectives that explain the slowdown in Punjab’s economy.