Agrarian Reform in India had been adopted to reallocate the agricultural resources among all the people directly connected with agriculture. After independence, the Government of India started the process of building equity in rural population and improvement of the employment rate and productivity. So for this reason the Government had started agrarian reform.
Reasons Behind Agrarian reform:
Since India had been under several rulers for a long time, i.e right from the beginning of the middle age, that's why it's rural economic policies kept changing. The main focus of those policies was to earn more money by exploiting the poor farmers.
In the British period the scenario had not changed much. The British Government introduced the "Zamindari" system where the the authority of land had been captured by some big and rich landowners called Zamindar. Moreover they created an intermediate class to collect tax easily.
This class had no direct relationship with agriculture or land. Those Zamindars could acquire land from the British Government almost free of cost. So the economic security of the poor peasants lost completely. After independence, the Government's main focus was to remove those intermediate classes and secure a proper land management system. Since India is a large country, the redistribution process was a big challenge for the Government.
This seems to be the first time in several months that ECB President Draghi has been rather anti-climactic. The disappointment or the "sell the rumor buy the fact" scenario we suggested is, in fact, unfolding, and the euro is correcting higher.
Professor at Columbia University. Recipient of the Nobel Memorial Prize in Economic Sciences in 2001 & the John Bates Clark Medal in 1979. Author of "Freefall: America, Free Markets", "The Sinking of the World Economy", "Globalisation and its Discontents" & "Making Globalisation Work".
Eric J. Gleacher Distinguished Service Professor of Finance at the Booth School of Business at the University of Chicago. IMF’s Chief Economist from September 2003 to January 2007. Inaugural recipient of the Fischer Black Prize.
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