This volume of collected essays covers a variety of subjects – ranging from banking and finance to science and development. The common thread that binds the diversity of the topics is India’s past record and present policies in the macro, micro and meso economic spheres. Without being apologetic about India’s past records, these essays probe into the analytics of some select areas in policy-making in the Indian economy. The first essay in the volume flags the issues relating to strength and shortcomings of recent prospects of India’s economy and attempts to present a futuristic scenario. Against the eclectic background of the affiliation between finance and development, there are three essays delving into two distinct but interrelated concerns, viz. the perspective of the developing countries about the international financial architecture, and the present and future of the Indian banking and financial system. These apart, the essay on the management challenges in a globalizing economy highlights the implications of the recent global developments for Indian corporates and policy-makers, while the paper on science, technology and development puts the issues relating to India’s technology capabilities and related policies in contemporary global and domestic perspective. Besides these major papers, the collection includes six short comments spanning as diverse areas of globalization, cost of delays in the field of India’s financial contracts and settlement of liquidation procedure, public vis-Ã -vis private sector in investors’ choice, the rationale of recent exchange rate management and monetary policy (primarily questioning the necessity of inflation targeting) in India and the two-way interface between information technology and global macroeconomic development, including the special role of information technology in banking.
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