A COMPARATIVE ANALYSIS OF STRUCTURAL TRANSFORMATION BETWEEN HARYANA & PUNJAB

Abstract

Structural change has been considered as one of the essential ingredients of modern economic growth. Without structural change, no country can get sustainable and inclusive growth. So structural transformation is vital issue for developing country like India. The big concern for Indian economy is still high employment share in agriculture sector, on the other hand declining the share in GDP year by year. Moreover, the Contribution of Agriculture sector in Indian economy is much higher than world's average (6.1%). Contribution of Industry and Service sector is lower than world's average 30.5% for Industry sector and 63.5% for Services sector respectively. Even service sector has high productivity still unable to absorb surplus labour of agriculture sector. So if we want to attain third stage of structure transformation then India have to give importance to quality and vocational education. So that we can produce skilled labour which will be suitable for service sector also. In comparison of Haryana and Punjab, no significant difference could be surfaced between Punjab and Haryana. Overall, it may be concluded that Haryana could secure higher growth rates of primary sector of NSDP as well as total NSDP. However Punjab did well in social parameters in comparison of Haryana like literacy rate, life expectancy rate at birth, woman literacy, HDI etc.