This paper based on primary field survey deals with the economic class structures in a differentiated agrarian economy. In an attempt to study and analyse the ground situation in this post liberalization period this study undertook a detailed analysis of the structure of all relevant variables to examine the structure of investment and production taking place in West Bengal. The study stresses that the process of socio economic differentiation has not stopped and that can be captured only by a thorough economic class study of the agrarian relations of West Bengal on samples of diversely developed regions.

Development is a purposeful change in a society that contributes to social and economic well being and advancement of its people without creating any disharmony. Development includes the fulfilment of each person’s material, spiritual and societal needs. It is a dynamic process. However development cannot take place by itself. It requires an educated, skilled and competent people. Education becomes the most important factor for development as well as for empowering people. Education provides people with knowledge and information which in turn bring about desirable changes in the way of people think, feel and act. Education also builds in people a strong sense of self-esteem, self-confidence. Therefore education is considered as a social instrument for developing human resources and for human capital formation. The Indian constitution enshrines in the directive principle of state policy compulsory primary education to all citizens. Primary education signifies the foremost and most basic education which lays the foundations for the subsequent level of education, and at the same time which at least makes a person literate and endowed with some basic knowledge of the world considered essential for his/her decent living. It is a socio economic need of a country. It is the pillar of a country by which one country can develop human resource base and man power in a modern society. Level of development can be judged in terms of extent of literacy rate. In India, shortfall in pupil enrolment and retention, especially in rural areas, in urban slums and among girls and members of scheduled castes and tribes remains a severe challenge for a long time. Our feeling is that not only the quantity but also the quality of primary education need to be emphasised if the goal is to create meaningful and capable human resources in this age of neo-liberal globalisation.

The study seeks to examine the causal relationship, if any, between India’s services trade and economic growth, in a Vector Auto Regressive (VAR) framework during the post-liberalization period. A simple regression model is used to predict whether services trade influences economic growth for the time period 1996-97: Q1 to 2014-15:Q2. In order to examine the causal linkages between the variables, the Granger Causality Test has been conducted. Service trade plays a crucial role in developing countries where proportionately higher services export are characteristics of high-growth countries while excessive dependency on imported services is characteristic of low growth countries. Effective development planning must include strengthening of both domestic and international service sectors to reduce relative dependency on imported services while providing incentives for services exports.