Agriculture has historically been the backbone of India’s economy, supporting a majority of the population and contributing significantly to national development. Post-independence policies emphasized land reforms, productivity enhancement, and modernization, culminating in transformative milestones such as the Green Revolution. However, regional disparities, rising cultivation costs, market inefficiencies, and the increasing role of intermediaries continue to challenge farmers’ income and welfare. The introduction of the New Agricultural Policy and the Agricultural Bills of 2020 sought to liberalize agricultural markets, enhance farmer autonomy, promote direct trade, strengthen supply chains, and modernize storage and processing infrastructure. Despite these objectives, widespread farmer protests emerged due to apprehensions regarding MSP security, APMC reforms, contract farming risks, and potential corporate dominance. This paper critically examines the evolution of agricultural policies, key provisions of the new legislation, welfare schemes, and the socio-economic implications for Indian farmers. The study, based on secondary sources, highlights the need for transparent policies, strengthened institutional support, farmer-centric reforms, and sustainable agricultural development to ensure equitable growth and long-term livelihood security.