Home Market, Capitalism in Agriculture, and Drain of Agricultural Surplus

Drain of Agricultural Surplus Sudipto Mundle This paper presents an explanation of the decline in the long-term rate of growth of the Indian economy since the mid-sixties which directly relates the restricted growth of the home market to the slow development of capitalist agriculture which, in turn, is attributed by the author, at least partly, to a drain of substantial quantities of the surplus product in agriculture.