The dimensions of development have w taken a new shape. There is generic formula for growth and every country has specific characteristics and historical experiences that must be reflected in its growth story. It has w been widely recognised that inclusive growth is imperative for sustainability. Governments around the world are therefore anxious that even as they pursue ecomic 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 ecomy. 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.
N. A. Mujumdar is a distinguished economist whose PhD thesis from Mumbai University, India was much acclaimed and published as a book titled: Some Problems of Underemployment . He has wide interests in rural issues (particularly the food economy), monetary and fiscal policies and international issues. He taught at Mumbai University and had the distinction of being awarded the prestigious Nuffield Fellowship at Oxford, UK. On his return to India, he joined the Reserve Bank of India (RBI) in 1960 as research Officer, and retired as Principal Adviser, Department of Economic Analysis and Policy in 1988. He also headed the Monetary Policy unit of the RBI. His services were sought by the International Monetary Fund for secondment to the central banks of five different countries - Zambia, Mauritius, Tanzania, Belize and Cambodia. After retirement from the RBI, he was Adviser, Central Bank of India, Housing Development Corporation, Society for Development Studies, New Delhi, and Adviser on the RBI History Project. Presently, he is Editor of the Indian Journal of Agricultural Economics . Dr Mujumdar has been a regular columnist on economic issues since 1988. He has also published eight books. His most recent book on India's New Development Agenda was published in 2011 by the Academic Foundation, New Delhi, India.