The Progress of "Reform" and the Retrogression of Agriculture

Apr 25th 2007, C.P. Chandrasekhar
The consequence of recent structural shifts is that the Indian economy can record the observed creditable rates of non-inflationary growth of aggregate GDP even when its agricultural sector languishes. It appears that a feature of the growth process in a more open and liberalised environment is that the peasantry has a much smaller a role in sustaining economic growth and can thus be partially excluded from development. What is disconcerting is that the self-correcting mechanism that existed in the earlier period to restore a semblance of balance between agricultural and non-agricultural growth are no more operative.

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