Pulses have been an important traditional food crop of India. India is the largest producer and consumer of pulses. However, pulse acreage and yield has not kept pace with the growing demand in India. As a result, India is also the single largest importer of pulses today. While Green Revolution in India focused on cereal crops, pulses remained an orphaned and neglected crop. However, from the triple perspective of economy, environmental sustainability, and provision of balanced nutrition; pulses have now been recognized as the future of food. India can substantially increase her production and yield in pulses with a strategic emphasis on research in public and private sector, expanding irrigation infrastructure, provision of MSP to pulses, assured procurement by government for PDS/MDMS, facilitation of mini dal mills and storage at village level, and allowing futures markets to function. Price stability for consumers can also be attained by reduction in middlemen margins through modern warehousing, FDI in wholesale and retail trade, introducing competition to APMC markets, and substantial reduction in import tariffs on substitute products such as chicken.