By Lakhwinder Singh, Nirvikar Singh (eds.)
Foreword through Prof. Kaushik Basu
This e-book strains the advance event of 1 of India’s so much dynamic and filthy rich states, Punjab, which has supplied the rustic with a much-needed measure of nutrients defense. The relative regression of Punjab’s economic climate within the post-economic reforms interval and gradual present fiscal development supply reason for hindrance. The contributions during this e-book tackle the query of why the structural transformation of Punjab’s economic system has fallen into the middle-income seize. each one investigates the coverage constraints influencing the relative stagnation of the economic system and indicates applicable measures for easing them. via integrating theoretical constructs and new proof, the authoritative contributions diagnose the character of the present difficulties and provide sensible strategies. They hide vital matters equivalent to the predicament of agrarian transition, agrarian markets and distributive justice, employment progress and transition to non-agriculture sectors, financial coverage, exterior elements in fiscal transformation, and views on rejuvenating the state’s economy.
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Extra resources for Economic Transformation of a Developing Economy: The Experience of Punjab, India
This act declares any sale of wheat and paddy made other than in regulated food grains markets as illegal. The government of India has been procuring all the output that comes to the regulated markets and does so at assured minimum support prices. The author points out that 99 % of the wheat and 100 % of the paddy in Punjab are being sold through the regulated markets, which have reduced the role of informal agriculture output markets in the state. 15 % of the total paddy procured in India, were transacted in the food grains market of Punjab.
For rural labour, the MGNREGA remained quite effective in terms of reducing linkages of credit with the labour market. However, to save the farmers from the clutches of exploitative interlinked informal agrarian markets, much still needs to be done by the state. Complementary to Gill’s analysis of the functioning of the informal and interlinked agrarian credit markets, Indervir Singh, in Chap. 9, reports on a primary survey of commission agents, spread over four developmental blocks, designed to examine their business conduct.
Punjab occupies a strategic position in the country, in terms of food security and national security, and therefore its economy requires early attention to arrest its downward spiral. To explore policy measures for the revival, rejuvenation and transformation of the Punjab economy, a conclave of researchers, policy makers and policy implementation agencies was organized jointly by the Centre for Development Economics and Innovation Studies (CDEIS), Punjabi University and the University of California, Santa Cruz, USA, on March 21–23, 2014, at the Punjabi University campus.
Economic Transformation of a Developing Economy: The Experience of Punjab, India by Lakhwinder Singh, Nirvikar Singh (eds.)