Abstract

In the fast changing liberalized global environment where growth and productivity have
emerged as the important agents of growth and development, present study is an effort to investigate
growth pattern and productivity trends of small scale non metallic mineral products industry in Punjab.
The growth of industry has been measured in terms of four variables namely: number of units, fixed
investment, direct employment and production. Yearly growth rates have been computed to mirror year
to-year fluctuations in growth and compound annual growth rates (CAGRs) have been worked out to find
the impact of the policies of liberalized regime on growth of this industry. Productivity trends have been
sketched in terms of capital intensity, capital output ratio and partial factor productivities. The study
observed that the significant growth rate was observed in the variables namely number of units, fixed
investment and production. But the policies of liberalized regime have resulted in qualitative rather than
quantitative growth in the small scale non-metallic minerals products industry in Punjab. Highly significant
growth rate was recorded in fixed investment and production, a slow growth was noticed in number of
units but insignificant growth was gauged in employment during the liberalization period. However, in the
overall period of the study, significant growth rate was registered in the case of all the four variables. Thus,
it could safely be inferred from the analysis that the liberalization has resulted in jobless growth as the rate
of growth of employment has gone down miserably.The profile of labour and capital productivity reflects
that in absolute terms the labour and capital productivity and the capital intensity exhibited significant
growth rate capital output ratio recorded negative growth during the liberalization period. The comparative
profile of pre-liberalization and liberalization period indicates that during liberalization period, productivities of labour and capital accompanied by capital intensity have improved significantly whereas capital output ratio decelerated.

How to Cite
KUMAR, Dr . Gulshan. Growth and Productivity Analysis of non Metallic Minerals Products Industry of Punjab. Global Journal of Science Frontier Research, [S.l.], v. 11, n. 2, feb. 2011. ISSN 2249-4626. Available at: <https://journalofscience.org/index.php/GJSFR/article/view/217>. Date accessed: 24 july 2019.