Agriculture is an engine of inclusive economic growth as a major source of livelihood for millions of smallholder farmers and other rural residents in India. Having made significant strides in food production, through the Green, White, Yellow, and Blue Revolutions, Indian agriculture is now at a cross road. Deterioration in the quality of natural resources (soil, water and air), together with the adverse effects of climate change, pose significant threats to the sustainability of agricultural production and farmers’ incomes. The situation in the Green Revolution corridors of India is especially daunting with severe problems of hydrological imbalance, soil degradation, and water pollution. In addition, the problem of air pollution from crop residue burning has emerged as a major cause for national and international concern because of its enormous environmental and health costs across the Northern plains of India. These worrying trends have led policy-makers to recognize that past strategies adopted for agricultural growth need to be re-adjusted, with the benefit of the same far-sighted vision as in the case of Green Revolution, to address these emerging complex challenges, fully exploit the potential opportunities for inclusive but sustainable growth, and promote rural prosperity.