Singh, Lakhwinder (2006): Deceleration of industrial growth and rural industrialization strategy for Indian Punjab. Published in: Journal of Punjab Studies , Vol. 12, No. 2 (2005): pp. 271-284.
Download (167kB) | Preview
Sustained industrial growth has been widely acknowledged as an engine of economic transformation. Less developed countries, however, remained predominantly agrarian due to lack of dynamism in the industrial economy and the low level of industrialization. Economic policy reform programme was initiated since July 1991 to generate essential dynamism in the industrial sector for successful transformation of the agrarian economy of India. In this paper an attempt is made to examine the industrial growth experience of Punjab economy during the period 1980-81 to 2001-2002, that is a decade before and a decade after the initiation of economic reforms. The empirical evidence clearly show a downturn in industrial growth in the post-reform period compared to that of the pre-reform period. Factors that have contributed to the deceleration of industrial growth in Punjab were lower investment-GSDP ratio, lower plan expenditure and lower quality of human capital and infrastructure. Identified factors that have led to the deceleration of industrial growth in Punjab were making the state scarce in economic activities and lack of private corporate investment in Punjab both of domestic and foreign. Alternative strategy has been suggested which not only has the capacity to arrest the process of deceleration of industrial growth in the state but also has a capacity to transform agrarian economy to industrialized one along with raising the level of rural income and welfare.
|Item Type:||MPRA Paper|
|Original Title:||Deceleration of industrial growth and rural industrialization strategy for Indian Punjab.|
|Keywords:||Indian Punjab; rural industrialisation strategy; deceleration of growth; Economic reforms public policy|
|Subjects:||O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O18 - Urban, Rural, Regional, and Transportation Analysis ; Housing ; Infrastructure
O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O14 - Industrialization ; Manufacturing and Service Industries ; Choice of Technology
O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development
|Depositing User:||Lakhwinder Singh|
|Date Deposited:||15. Nov 2006|
|Last Modified:||23. Sep 2015 05:02|
Ahluwalia, M.S., 2002. ‘State-Level Performance under Economic Reforms in India’, in Anne O. Krueger (ED.) Economic Policy Reforms and the Indian Economy, New Delhi: Oxford University Press.
Babu, S., 2002. ‘Competition and Competitiveness among States’, Economic and Political Weekly, Vol.37, No.13.
Bhattacharya, B.B. and S. Sakthivel, 2004. ‘Regional Growth and Disparity in India: Comparison of Pre- and Post-Reform Decades’, Economic and Political Weekly, Vol. 39, No.10.
Burange, P.G., 1999. ‘Industrial Growth and Structure of Manufacturing Sector of Maharashtra’, Economic and Political Weekly, Vol.34, No.9.
Ghuman, R.S., 2001. ‘WTO and Indian Agriculture: Crisis and Challenges-A Case Study of Punjab’, Man & Development, June.
Gill, Anita, 2004. ‘Interlinked Agrarian Credit Markets: Case Study of Punjab’, Economic and Political Weekly, Vol.39, No.33.
Gill, Sucha Singh, 2004. ‘Contract Farming Hurts Farmers: Area under Wheat, Paddy Increases’, The Tribune, Chandigarh, September 27.
Gill, Sucha Singh et al, 2000. Suicides in Rural Areas of Punjab: A Report, Patiala: Association for Democratic Rights (in Punjabi).
Government of India, 2004. SIA Statistics April 2004, New Delhi: Ministry of Commerce and Industry.
Government of India, 2004. Economic Survey, New Delhi: Ministry of Finance.
Government of India, 2002, Annual Survey of Industries, New Delhi: Central Statistical Organization (Various issues).
Government of Punjab, 1986. Report of the Expert Committee on Diversification of Agriculture in Punjab, Chandigarh: Government of Punjab.
Government of Punjab, 1998. Economic Census, Chandigarh: Economic and Statistical Organization (Various issues).
Harberger, A.C., 1998. ‘A Vision of the Growth Process’, American Economic Review, Vol.88, No.1.
Hayami, Yujiro, 2003. ‘From Washington Consensus to the Post-Washington Consensus: Retrospect and Prospect’, Asian Development Review, Vol.20, No.2.
Hoff, K. and Joseph E. Stiglitz, 2004. ‘After the Big Bang? Obstacles to the Emergence of the Rule of Law in Post-Communist Societies’, American Economic Review, Vol.94, No.3.
Jomo, K.S., 2001. ‘Rethinking the Role of Government Policy in Southeast Asia’, in Joseph E. Stiglitz and Shahid Yusuf (eds.) The East Asian Miracle, New York: Oxford University Press.
Mohan, Rakesh, 2002. ‘Small-Scale Industry Policy in India: A Critical Evaluation’, in Anne O. Krueger (ed.) Economic Policy Reforms and the Indian Economy, New Delhi: Oxford University Press.
Moore, M., 1993. ‘Economic Structure and the Politics of Sectoral Bias: East Asian and Other Cases’, Journal of Development Studies, Vol.29, No.4.
Patibandla, M. and Trilochan Sastry, 2004. ‘Capitalism and Cooperation: Cooperative Institutions in a Developing Economy’, Economic and Political Weekly, Vol.39, No.27.
Rani, P. Geetha, 1999. ‘Human Development Index in India: A District Profile’, Arth Vijnana, Vol. XLI, No. 1.
Rath, S., 2003. ‘Grape Cultivation for Export: Impact on Vineyard Workers’, Economic and Political Weekly, Vol.38, No.5.
Shergill, H.S., 1998. Rural Credit and Indebtedness in Punjab, Chandigarh: IDC.
Sidhu, R.S. and Sukhpal Singh, 2004. ‘Agricultural Wages and Employment’, Economic and Political Weekly, Vol.39, No.37.
Singh, Lakhwinder and Sukhpal Singh, 2002. ‘Deceleration of Economic Growth in Punjab: Evidence, Explanation, and a Way-Out’, Economic and Political Weekly, Vol.37, No.6.
Srinivasan, T.N. and Suresh D. Tendulkar, 2003. Reintegrating India with the World Economy, New Delhi: Oxford University Press.
Stiglitz, Joseph E., 2002. Globalization and Its Discontents, New York: W.W. Norton & Company Ltd.
Timmer, C.P., 1988. ‘The Agriculture Transformation’, in H. B. Chenery and T.N. Srinivasan (eds.) Handbook of Development Economics Vol.1, Amsterdam: Elsevier Science Publishers.
Wade, R., 1990. Governing the Market: Economic Theory and the Role of Government in East Asian Industrialization, Princeton: Princeton University Press.