The Green Revolution exhausted its economic potential by the 1980s. That in turn gave rise to discontent was channeled into religious lines by the policies of the Congress and the Pakistan ISI. Hence, the militancy in Punjab of which the troubles of 1984 were a part hit lands outside of Punjab.
The agricultural productivity went up consistently in Punjab through these years, gross economic growth continued. There was a sectoral shift. The economy of Punjab became a tertiary sector dominated economy. Agriculture became just a small part of the economy; industry grew but not as much. One area that grew dramatically was tourism and hotels. Per capita income increased. Employment increased. Punjabis migrating to richer lands in the west increased. Punjabis working their own land showed a consistency for some time and then that too began to increase.
There was never any sort of agrarian crisis in Punjab, either today or in the days immediately after 1984, or even before that. Since, 2005 Drug problem in Punjab, there has to be an established research done for it. There was a historic turning point around which things changed. 1984, for all its gruesomeness and awful conduct by the people associated by the Congress, however, was but a small blip in the wider historical processes in India. About all that 1984 did was to encourage the Pakistani spy agency ISI to provide shelter and weapons to dissidents in Punjab. Dissidents have been in Punjab since we know of the history of Punjab.What changed big time was the ability of the ISI to provide them with weapons and encourage them to use these weapons to create terror in the state.
The official government of Punjab had since the 1960s since the death of Pratap Singh Kairon, been allowed to be run down through misuse. By the 1980s there was virtually no government and whatever little existed was quite unfair and corrupt. So when the ISI funded dissidents picked up the gun to fulfill their goonish desires, they found a great opportunity in Punjab. It took almost a decade for the government of Punjab to get its act together. Only in early 1990s the government was able through the leadership of people like KPS Gill, to capture the weapon wielding dissidents, disarm them and make the society safe once again. But once the government began to assert itself the public quickly came forward to support and helped in eliminating the weapon wielding dissidents. Many of these were arrested, went to jail, and then rejoined the political process. Since then, many of them have even been elected MP/MLA, some of them have become ministers.