<p><strong>Raj Kapila</strong> is the Director and Chief Editor of Academic Foundation, Delhi. He has written extensively and is also the author of the following&nbsp;<br /> publications: The Story of Industrialisation: Industries the World Over (1962), The Time Demands: A Politico-Economic Analysis of Present-day India&nbsp;<br /> (1966), India at Cross : After 25 years of Independence (1972). He co-edited with Dr. Uma Kapila, a six volume study entitled Understanding India’s&nbsp;<br /> Economic Reforms (AF, 1996). This was very well received and consequently led to the evolution of the concept of ‘‘Monthly Updates’’ on Indian&nbsp;<br /> 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.,&nbsp;<br /> 1998) and subsequently: Ongoing Developments in Banking and Financial Sector in India (4 vols., AF, 2000). Most recently, they have co-edited a book:&nbsp;<br /> India's Economy in the 21st Century (Academic Foundation, 2001) --- a collection of select articles by eminent economists.</p> <p><br /> <br /> <strong>Uma Kapila</strong> is Reader in the Department of Economics, Miranda House, University of Delhi. She has been a keen student of current Indian economic&nbsp;<br /> problems and has been teaching this subject to undergraduate and post-graduate students for the last forty years.</p> <p><br /> As a teacher-fellow at the Centre for Advanced Studies, Delhi School of Economics (1976-79), Mrs. Kapila completed her Ph.D. on "Oilseeds Economy of&nbsp;<br /> 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&nbsp;<br /> Plan" (Perspective Planning Division).<br /> &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&nbsp;<br /> "Studies in Economic Development and Planning." She is the editor of the widely read book entitled Indian Economy Since Independence, currently into&nbsp;<br /> its eleventh edition. Dr. Uma Kapila has, to her credit, well known textbooks on Indian economy that have been designed speci-ally keeping in mind the&nbsp;<br /> interests of university students. She is also the co-editor (along with Mr. Raj Kapila), of a number of publications mentioned earlier, that are focussed on&nbsp;<br /> current developments in Indian economy, banking &amp; finance.</p>