Poverty is the grim reality for some 400 million people - mostly small farmers and agricultural laborers - in India, Pakistan, and Bangladesh. To remedy the problem, South Asian governments and international agencies have focused on raising the productivity of small farms and increasing opportunities for rural employment. This strategy, however, has long been criticized for doing the poor more harm than good. The author challenges that pessimistic view by critically reviewing a wealth of evidence from recent academic literature and the World Bank's operational experience. He shows that rapid agricultural growth has benefited all classes of the poor and that the "great ascent" from poverty to a more materially rewarding life has begun. A variety of programs intended to help the poor directly are examined in detail. Research, extension, and training activities are evaluated for their effectiveness in promoting the adoption of high-yielding varieties of cereal, spreading new farming technology, encouraging multiple cropping, and increasing the cultivation of high-value crops. The author also considers programs in dairying, poultry farming, commercial fishing, and forestry and argues that policymakers have neglected these potentially profitable activities. Finally, he discusses the dismal failure of land reforms in reducing poverty.