The dimensions of development have now taken a new shape. There is no generic formula for growth and every country has specific characteristics and historical experiences that must be reflected in its growth story. It has now been widely recognised that inclusive growth is imperative for sustainability. Governments around the world are therefore anxious that even as they pursue economic growth they must make that growth process inclusive. The strong linkage between stability and inclusion should be the guiding principle of policies for promotion of growth. There is also a renewed call for revival of ethical values.

The book is an attempt at exploring the new aspects of development philosophy. Divided into six broad sections, it addresses the issues of: growth and development, monetary policy, banking policy, fiscal policy, food security and global environment with reference to the Indian economy. The underlying main theme of all the articles in the volume is promoting growth which is all-round and inclusive, equitable and above all growth which ultimately leads to the emergence of value-based compassionate society.