This book looks at the impact of recent agriculture-related policy changes on the emerging production, marketing and earning status of small versus large farmers based on primary and secondary data. Comparing two contrasting states of Punjab and Bihar, the study finds that whereas Punjab farming set the course of commercialisation way behind in the early seventies and the state has bright prospect for a new phase of corporatisation leading to ascendancy of processing and value addition, Bihar agriculture is still caught in the web of subsistence farming. Majority of holdings being marginal and small in the state, the mechanisation and commercialisation of agriculture is still at a rudimentary stage and farmers have to depend on non-farm activities to make their daily earnings. Farm income was the chief source of household income in Punjab with 76 per cent share, whereas contribution of farm income in total household income was only 36 per cent in Bihar. Farmers’ opinion about the globalisation process revealed that only the large and medium farmers stood better off after the reform process whereas for the landless and small farmers, it has become difficult to eek-out their livelihood. For setting course for the future, understanding the current status of globalisation is necessary. Different policy actions in different states are de rigueur to bring the farmers out of their dilemmas especially the small and marginal ones who are at the ebb of deprivation. ISBN - 9788171889372