The evolution of the ^ { 7 } Li abundance in the Galaxy has been computed by means of the two-infall model of Galactic chemical evolution . We took into account several stellar ^ { 7 } Li sources : novae , massive AGB stars , C-stars and Type II SNe . In particular , we adopted new theoretical yields for novae . We also took into account the ^ { 7 } Li production from GCRs . In particular , the absolute yields of ^ { 7 } Li , as suggested by a recent reevaluation of the contribution of GCR spallation to the ^ { 7 } Li abundance , have been adopted . We compared our theoretical predictions for the evolution of ^ { 7 } Li abundance in the solar neighborhood with a new compilation of data , where we identified the population membership of the stars on a kinematical basis . A critical analysis of extant observations revealed a possible extension of the Li plateau towards higher metallicities ( up to [ Fe/H ] \sim - 0.5 or even - 0.3 ) with a steep rise afterwards . We conclude that 1 ) the ^ { 7 } Li contribution from novae is required in order to reproduce the shape of the growth of A ( Li ) versus [ Fe/H ] , 2 ) the contribution from Type II SNe should be lowered by at least a factor of two , and 3 ) the ^ { 7 } Li production from GCRs is probably more important than previously estimated , in particular at high metallicities : by taking into account GCR nucleosynthesis we noticeably improved the predictions on the ^ { 7 } Li abundance in the presolar nebula and at the present time as inferred from measures in meteorites and T Tauri stars , respectively . We also predicted a lower limit for the present time ^ { 7 } Li abundance expected in the bulge , a prediction which might be tested by future observations .