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Growth of Cash Rent Tenancy and Modernisation of Land Lease Market in Punjab

In: Economic Transformation of a Developing Economy

Author

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  • H. S. Shergill

    (Panjab University)

Abstract

The nature of farm tenancy in Punjab has completely changed due to the technological revolution and commercialisation of agriculture; traditional share tenancy has been replaced by modern cash rent tenancy. The tenancy laws of the state, however, have not changed to keep in tune with the emergence of modern tenancy. This chapter argues that the existing tenancy laws need to be replaced by a new set of modern tenancy laws to facilitate the smooth, costless and hassle-free transfer of land for cultivation from less efficient to more efficient farmers. The focus of the new tenancy laws should be on creating zero risk of land loss through renting out, easy and costless registration and enforcement of lease contracts, promotion of long lease contracts and enabling the tenants to get institutional credit on the basis of rented in land.

Suggested Citation

  • H. S. Shergill, 2016. "Growth of Cash Rent Tenancy and Modernisation of Land Lease Market in Punjab," India Studies in Business and Economics, in: Lakhwinder Singh & Nirvikar Singh (ed.), Economic Transformation of a Developing Economy, edition 1, chapter 0, pages 121-139, Springer.
    • Handle: RePEc:spr:isbchp:978-981-10-0197-0_6
    DOI: 10.1007/978-981-10-0197-0_6
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