The Indian economy, society, policy and decision-makers at the top, are at the crossroads. In the liberalization and post liberalization era, there have been momentous transformations in the domestic and global economic and socio-political scene. This is the time of introspection for planners and policy makers, in order to ascertain as to, how to stabilize the process of change, to achieve a balanced and self-sustaining economic growth rate of 8% annually.The major thrust of this book has been to cover all the significant changes, which have taken place in the areas of Economic Growth, Industrialization, Disinvestment, Corporate Participation in Economic Development, Fiscal Deficits, Inflation, Trade and Tariff, EXIM policy, Regional Trade Agreements and WTO, Insurance Bill, Liberalization and Globalization.This book also unfolds aspects, such as social audits, business ethics, corporate governance and social responsibilities of business. At the end of each chapter, review exercises are provided so that students may assess the understanding of the subject matter. This textbook will be of indispensable help to students of this course both at the undergraduate and postgraduate level.Unique features emphasized in this book: Stabilization and Structural Adjustment policies, Market Failure Vs Non-Market Failure, Competition and Efficiency, Private Sector participation in Infrastructure Sector, BOT, BOO and BOLT, Comparisons with China and lessons from the financial crises of East Asia, Post-Economic Reforms Scenario, Foreign Investment in India, WTO and its impact on India, etc.