Whether or not the Indian economy is going into recession remains debatable. But without a correct diagnosis, measures to counteract the problems will be ineffective.
Since its phenomenal growth in the 1960s, Punjab is now facing an economic crisis of unprecedented scale. The decelerating economic growth is essentially rooted in the irrational pattern of investment and declining developmental expenditure and compounded by the crisis in agriculture, due to marginalisation of the small farmer and population pressure on land. The need at the outset, is a dire need to reorient the government's investment planning and strategy, along with implementation of change in the organisational pattern of production.
