India's Twelfth Five Year Plan seeks to achieve inclusive and sustainable development through an appropriate growth process by reducing regional disparities in development, raising the growth rates of agriculture and manufacturing, and by giving high priority to health and education. Against this backdrop, the essays on inclusive growth in this book focus on regional disparities in development, technology fatigue, marketing constraints and sustainable use of water in respect of agriculture; ensuring accountability in performance; and the growth performance in Andhra Pradesh where the rising discontent against regional disparities in development led to the recent decision of the Union Government to form a separate state of Telangana. The book also includes some reminiscences of the author from his student days to his interactions on economic policy issues concerning equitable development since the 1980s, with individuals ranging from veteran freedom fighters to the eminent scholars and public figures, including some Prime Ministers of India.

The essays in this book, written on different occasions over a period of four decades reflect the understanding and vision of the author with regard to the complex issues of regional disparities and emerging regional tensions, and the revival of the demands for the creation of smaller states. The author observes that inter-state and intra-state disparities in development have not only persisted but have even increased in certain cases especially where backward regions do not have the necessary political clout in decision-making regarding public investment and provision of jobs. This has led to regional tensions and persistent demands for carving out separate states consisting of such backward areas. Uttarakhand, Jharkhand and Chhattisgarh are some recent examples. The need to reduce regional disparities in develop-ment has emerged as one of the biggest challenges in the post-reform period. According to Professor Rao, to ensure greater accountability for the development of backward regions in bigger states, it may be desirable to constitute Regional Development Boards and, where necessary, to carve out separate states comprising some of the backward regions. As early as 1969, he had argued for the economic viability of a separate Telangana state, "There is every reason to believe that separation would create conditions for the proper development of material as well as human resources of the region. The book is of great relevance today in view of the renewed interest in the subject.

Here's the new avatar of the previously entitled ""Indian Economy Since Independence,"" the highly acclaimed and widely accepted reference text which continued to be revised every year until it ran into its 18th edition in 2006.The book is essentially, a collection of select articles by some of India's topmost economists and experts. These highly recommended original readings are well supported by comprehensive 'editorial notes' by Uma Kapila.In addition to being a widely read textbook by college/university students and IAS/MBA aspirants, this volume also serves as an ideal gateway for any interested reader to explore, in a most authentic manner, various aspects relating to India's economic development since 1947.