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Indian Agriculture under Open Economic Regime: Implication for Livelihood and Food Security

Despite impressive performance in terms of GDP growth after the introduction of neoliberal reforms, India continues to be the home of the largest number of hungry people in the world. The present paper is an attempt to understand two interrelated issues in this context: the impact of neoliberal reforms on agricultural development and the implication of an open economic regime on food security in India. The study reveals that the austerity measures introduced by the state in the form of decline in capital formation and public sector expenditure in agriculture have undermined the livelihood of the majority of the population in India. The implementation of the World Trade Organization’s Agreement on Agriculture along with the retreat of the state in the name of fiscal discipline has significantly reduced the bargaining power of the peasants in general and the food security of the majority of the population in particular.