Offering deep insights into a variety of economic problems in India, this volume explores everything from monetary policy and financial stability to economic growth, social development, and globalization. Reflecting the author's scholarship and experience in policymaking, these remarkable essays argue that maintaining price stability should be the dominant objective of monetary policy and that India should seek to wrest maximum advantages from globalization. Incredibly, the article entitled 'Financial Stability,' though written before the current crisis, anticipates many of the issues that are being debated today. A fresh and forward-thinking collection, this book will interest economists, bankers, researchers, and policymakers alike.

Dr. Chakravarthi Rangarajan is a serious scholar on one hand, having taught in institutions like the IIM Ahmedabad, Loyola College, Madras, Indian Statistical Institute, New Delhi and the Wharton School of Finance, University of Pennsylvania, USA while on the other hand he has been among India's top policy makers, holding several top positions in Government: