The success of India's economic reforms in accelerating growth and reducing poverty has been well-documented. In view of Manmohan Singh's key role in spearheading India's development process, this volume in his honour, brings together a collection of essays on the economic reforms initiated in 1991 and explores policies, frameworks, and strategies to fully realize their potential.

Significantly revised and updated, this new edition:

traces India's development experience and transition to an open economy;

addresses key issues in India's economy such as poverty and inequality, monetary policy, agriculture, infrastructure development, fiscal stability, and financial liberalization; and

highlights the important changes and recent developments in India's economy.

Through comparative theoretical and econometric analyses, it captures the evolution of India's policies towards liberalization and its position in the global economy.