Designed for use in undergraduate courses in Indian Economy B.A. (Pass), B.Com. (Pass) and Honours (Subsidiary) in various Indian universities, the first part of the book discusses issues in `Development and Planning' with reference to India, covering Colonialism and Underdevelopment, Factors in Development, Capital Formation, Demographic Factors, Problems of Planning & Development; Industrial Policy; Relative Roles of Public and Private Sectors; Disinvestment and Issue of Privatisation; Savings and Investment; Mobilisation of Resources for the Plans; A broad review of planning upto the beginning of the Tenth Five Year Plan, and India's Economic Reforms. In the second part of the book, the discussions is on `sectoral aspects' of the Indian economy viz., Agriculture: Problems of Productivity, Technology, Green Revolution, Land Reforms, Rural Credit, Marketing, and India's Food Security System; Industry: Growth and Diversification in Indian Industry, Relative Roles of Cottage, Small and Large Industries, Role of Foreign Capital and Multinationals, and Industrial Finance; External Sector: Changing Structure of India's Foreign Trade in the Post-Independence Period, and Trends in Balance of Payments. The subject of Inflation with reference to India has also been exhaustively discussed and analysed. In response to the constant feed back from teachers and students, the analysis in the text, in the present edition (4th edition) has been simplified for easy understanding by the students at various levels. Some new chapters have been added and additions in the existing chapters made, covering the latest developments and policy announcements with respect to various sectors. At the end of each chapter, some relevant questions have also been given with respect to the subject discussed.