One of significant and, at the same time, challenging research problems in Economics is measuring the social effect of economic growth (development). Economic growth should never be treated a goal per se. It is rational provided that it brings effects such as, generally speaking, an improvement...

This paper discusses a possible case for industrial policy, with special reference to the two emerging global giants, China and India. It begins with a clarification of the meaning of industrial policy, since not only does the term mean different things to different people, but the traditional...

Maintaining macroeconomic stability / Ila Patnaik -- Building the welfare state / Surjit Bhalla -- Revamping agriculture and the public distribution system / Ashok Gulati -- Revisiting manufacturing policy / Rajiv Kumar -- Generating employment / Omkar Goswami -- Expanding education and skills /...