In today's complex and fast evolving environment, understanding India's economy is not just an intellectual challenge, but, with the country emerging as a major global player, also a requirement. This concise and reader-friendly volume addresses this need. Culled from the collective wisdom of distinguished contributors, the volume provides a comprehensive and engaging account of the trends and issues across various sectors of the Indian economy. More than 100 pertinent entries, organized thematically, cover the evolution of the Indian economy fromrelative obscurity to an emergent global force. They span the recent cover stories of India's phenomenal growth, and also document the backwaters-widespread poverty, farmer suicides, child labour, and the large and impoverished informal sector. A new introduction and some new entries cover the developments since the first edition was written, and also focus on the economic crises. An appendix presents relevant statistics on Indian economic indicators, which will serve as a handy reference for students of the Indian economy and, moregenerally, of development economics.

Kaushik Basu is Donald C. Opatrny '74 Chairman, Department of Economics, Professor of Economics, and C. Marks Professor of International Studies, Cornell University.

Annemie Maertens is a PhD candidate in Applied Economics and Management, Cornell University