<p>This volume includes contributions by some of the most distinguished economists/experts and provides rare insights into India's development journey through time and space—the successes and failures, and the new challenges emerging from integration with the world economy. Opportunities offered by the forces of globalisation offer India immense scope to improve the quality of life of its people provided appropriate policies are put in place.</p> <p><br /> India's Economy: A Journey in Time and Space, is the hundredth volume of Economic Developments in India. This is a selection of 20 articles from over 500 published in Economic Developments in India since its inception in 1998 upto December 2005. This volume, in three sections, covers the most vital issues relating to the journey: (i) Growth, Poverty and Reforms (ii) Globalisation and (iii) Sectoral Developments: Agriculture, Industry, Financial and External Sectors. The general message which emerges is that India's future problems are no doubt large but manageable. In this context, the book examines the challenges ahead, outlines policies, and identifies lacunae in their implementation, which lie at the root of most of the difficulties facing the nation today. Covering a broad range of critical issues, the book will be of interest to policy-makers, researchers, students of Indian economy and India-watchers.</p> <p><br /> "The list of contributors includes some of our most distinguished and eminent economists. Each one of them has contributed immensely to the analysis of India's economic condition and to policy formulation in their respective areas of expertise. The theoretical and empirical work of the authors is recognised internationally as having contributed to the development of the discipline of economics... The fact that 100th volume of 'Economic Developments in India' is being published is a testimony to the popularity of this series."<br /> <strong>— Dr. Manmohan Singh&nbsp;<br /> &nbsp; &nbsp; Prime Minister of India; a distinguished economist and widely acclaimed as the 'principal architect' of India's economic reforms.</strong></p> <p>&nbsp;</p> <p><br /> Commenting on the EDI series (of which this is the 100th volume): "Launched in 1998, Economic Developments in India (EDI) is brought out every month and covers the latest developments in Indian economy..... Volume after volume, month after month, it has contributed immensely towards disseminating high quality academic writings and other important literature on various aspects of India's economy...... It will not be an exaggeration if I say, I cannot find any parallel to this publication. It is indeed a unique ready reference resource.<br /> <strong>— C. Rangarajan&nbsp;<br /> &nbsp; &nbsp; Chairman, Prime Minister's Economic Advisory Council, Government of India; former Governor, Reserve Bank of India; former Chairman, Twelfth Finance &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Commission.</strong></p>

<p><strong>RAJ KAPILA :</strong></p> <p>Raj Kapila is the Director and Chief Editor of Academic Foundation, Delhi. He has written extensively and is also the author of the following publications: The Story of Industrialisation: Industries the World Over (1962), The Time Demands: A Politico-Economic Analysis of Present-day India (1966), India at Cross : After 25 years of Independence (1972).</p> <p><br /> He co-edited with Dr. Uma Kapila, a six volume study entitled Understanding India’s Economic Reforms (AF, 1996). This was very well received and consequently led to the evolution of the concept of ‘‘Monthly Updates’’ on Indian Economy that eventually took the form of the present EDI series. Together, they have also edited Banking and Financial Sector Reforms in India (6 vols., 1998) and subsequently: Ongoing Developments in Banking and Financial Sector in India (4 vols., AF, 2000). Most recently, they have co-edited a book: India's Economy in the 21st Century (Academic Foundation, 2001) --- a collection of select articles by eminent economists.</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><strong>UMA KAPILA:</strong></p> <p>Uma Kapila, author/editor of several other books, has taught Indian Economy to undergraduate students for forty two years. She recently retired as Reader from the Department of Economics, Miranda House, University of Delhi. Presently she is Senior Editor, Academic Foundation. As a teacher-fellow at the center for advanced studies, Delhi School of Economics (1976-79), Mrs. Kapila completed her Ph.D. on " Oilseeds Economy of India. " she has also served on the Planning Commission Study Group on " Agricultural Strategies in the Eastern Region of India for the seventh Five Year Plan" (Perspective planning Division).&nbsp;</p> <p>&nbsp;</p> <p>Dr. (Mrs.) Uma Kapila is the author of the book "Oilseeds Economy of India" (1982) published by the Institute of Economic Growth under their series " Studies in Economic Development and Planning". She is the editor of the widely read book entitled "Indian Economy Since Independence", currently into its eleventh edition. She also edited five volume on Indian Economy entitled Recent Development in India Economy with special reference to Structural Reforms. She is, presently, Co-edited with Mr. Raj Kapila, book series on economic developments and on banking and financial sectors developments.</p>

<p><strong>Vijay L. Kelkar </strong>Chairman, IDFC Private Equity Company Ltd., Mumbai; formerly Adviser to Finance Minister, Government of India, New Delhi.<br /> Arvind Virmani Principal Adviser, Planning Commission, Government of India.</p> <p>&nbsp;</p> <p><br /> <strong>Jagdish Bhagwati </strong>University Professor, Economics and Law, Columbia University, New York. N.A. Mujumdar Editor, Indian Journal of Agricul-tural Economics, Mumbai; formerly Principal Adviser, Reserve Bank of India, Mumbai.</p> <p>&nbsp;</p> <p><br /> <strong>A. Vaidyanathan </strong>Distinguished Economist; formerly Professor, Madras Institute of Development Studies, Chennai; Ex-Member, Planning Commission, Government of India.</p> <p>&nbsp;</p> <p><br /> Ashok V. Desai Consultant Editor, The Tele- graph and Businessworld, New Delhi.</p> <p>&nbsp;</p> <p><br /> <strong>N.R. Narayana Murthy </strong>Chairman and Chief Mentor, Infosys Technologies Ltd., Bangalore.</p> <p>&nbsp;</p> <p><br /> <strong>Montek S. Ahluwalia </strong>Deputy Chairman, Planning Commission, Government of India; formerly Director (EvO), International Monetary Fund (IMF), Washington D.C.; Ex-Finance Secretary, Government of India.</p> <p>&nbsp;</p> <p><br /> <strong>Rakesh Mohan</strong> Deputy Governor, Reserve Bank of India, Mumbai.</p> <p>&nbsp;</p> <p><br /> <strong>Bimal Jalan </strong>Member of Parliament (Rajya Sabha), New Delhi; Ex-Governor, Reserve Bank of India, Mumbai.</p> <p>&nbsp;</p> <p><br /> <strong>Shankar Acharya</strong> Honorary Professor, Indian Council for Research in International Economic Relations (ICRIER), New Delhi; formerly Chief Economic Adviser, Ministry of Finance, Government of India.</p> <p>&nbsp;</p> <p><br /> <strong>Per Pinstrup-Andersen H.E. Babcock </strong>Professor of Food, Nutrition and Public Policy at Cornell University; World Food Prize Laureate 2001; formerly Director General, International Food Policy Research Institute (IFPRI), Washington D.C.</p> <p>&nbsp;</p> <p><br /> <strong>V.S. Vyas</strong> Professor Emeritus, Institute of Development Studies, Jaipur.</p> <p>&nbsp;</p> <p><br /> <strong>C.H. Hanumantha Rao</strong> Chairman, Institute of Economic Growth, Delhi; Centre for Economic and Social Studies, (CESS), Hyderabad; Member, National Advisory Council, Government of India.</p> <p>&nbsp;</p> <p><br /> <strong>M.S. Swaminathan</strong> World Food Prize Laureate 1987; Chairman, National Commission on Farmers, New Delhi; Chairman, M S Swaminathan Research Foundation, Chennai.</p> <p>&nbsp;</p> <p><br /> <strong>Bibek Debroy</strong> Secretary General, PHD Chamber of Commerce &amp; Industry, New Delhi; formerly Director, Rajiv Gandhi Institute of Contemporary Studies, (RGICS), New Delhi.</p> <p>&nbsp;</p> <p><br /> <strong>R. Nagaraj</strong> Professor, Indira Gandhi Institute of Development Research (IGIDR), Mumbai.</p> <p>&nbsp;</p> <p><br /> <strong>C. Rangarajan </strong>Chairman, Prime Minister’s Economic Advisory Council, New Delhi; Ex-Governor, Reserve Bank of India, Mumbai.</p> <p>&nbsp;</p> <p><br /> <strong>S.S. Tarapore</strong> Ex-Deputy Governor, Reserve Bank of India, Mumbai.</p> <p>&nbsp;</p> <p><br /> <strong>Y.V. Reddy </strong>Governor, Reserve Bank of India, Mumbai</p>