This work investigates the complex relationship between agricultural price policies, intersectoral terms of trade, and their subsequent impact on income distribution and economic growth in India. Alain de Janvry and K. Subbarao, both established experts in development economics, synthesize historical data and economic theory to evaluate how price and technology interventions influence rural and urban welfare. The authors construct a framework to determine whether price-led or technology-led growth strategies provide more equitable outcomes for various socioeconomic classes. By analyzing the trade-offs between growth and equity, the text provides a rigorous assessment of how policy choices affect consumption patterns and industrial development.

Experts recognize this work as a foundational text for understanding the structural challenges of Indian agricultural economics during the late 20th century. Readers frequently note the technical density of the prose, which requires a solid background in economic modeling to fully grasp the authors' conclusions.