Synopsis This book is an attempt to evaluate 'Lokayata' by Debiprasad Chattopadhyaya. Lokayata is the interpretation of history of Indian philosophy from Marxist view point. This critical evaluation of it attempts to show that marxist interpretation of history is not an ideal frame-work, espeically so, for the history of Indian Philosophy. This book refutes Marxist interpretation by showing its drawbacks and effects, as well as it gives positive aspects of Indian Philosophy.