Structural adjustments in agricultural sector for growth and productivity

This book is being published at a time when some historical pro cesses are taking place in the area of economic development, as part of the globalization of the Indian economy. Economic development in Independent India was based on the principle of mixed as well as controlled economy. Now, after almost five decades, it is being re placed with free market economy. The process is being projected in the shade of economic reforms through liberalization. The success. story of the West and the failure of the socialist economy of the erst while USSR are being generally cited and debated both at home and abroad in numerous forums, including the United Nations Agencies.

The question which baffles one's mind is if the failure of the so

cialist economy is attributed to and accepted as a human failure, what

is the guarantee that the same human failure will not extend to the operational system of the free market economy. The other unresolved and continuously debated issue, even amongst the voteries of free market economy is the absence of institutional instrumentalities to regulate this system within the framework of free market economy in itself. The present document is based on an indepth study by Prof. S.S. Johl, who has spent considerable time in not only raising some

very relevant issues, but also putting forward a well-structured point

of view for further debate and discussion.

Writing a preface to the work of such a distinguished economist with a very sensitive mind, by someone, who is neither distinguished nor so sensitive, may not be really in consonance with established academic traditions. However, the urge to do so was beyond resis tance on account of the concern it has aroused, which needs sharing with the world of readers.