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Strategy for Fiscal Stability and Revitalizing the Economy of Punjab

In: Economic Transformation of a Developing Economy

Author

Listed:
  • Upinder Sahwney

    (Panjab University)

Abstract

The economy of Punjab has experienced a definite deceleration in the past two decades, which became evident in its falling rank in terms of per capita income amongst Indian states since the beginning of this century. Also, fiscal imbalances have afflicted the State in the past three decades and fiscal reform measures taken up after the enactment of Fiscal Responsibility Legislation did not have a lasting effect. In fact, debt sustainability is a major challenge before the Government of Punjab. The situation is not irretrievable, only the government has to put its act together. A multi-pronged strategy is required to rejuvenate the State economy as also to restore its lost glory. On the one hand, fiscal reform measures are required to be implemented in order to enforce discipline in the management of state finances in Punjab, on the other, overall economic development has to be taken up in all sectors of the economy.

Suggested Citation

  • Upinder Sahwney, 2016. "Strategy for Fiscal Stability and Revitalizing the Economy of Punjab," India Studies in Business and Economics, in: Lakhwinder Singh & Nirvikar Singh (ed.), Economic Transformation of a Developing Economy, edition 1, chapter 0, pages 411-433, Springer.
    • Handle: RePEc:spr:isbchp:978-981-10-0197-0_19
    DOI: 10.1007/978-981-10-0197-0_19
    as

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