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India is today a $1.8 trillion economy, the fourth largest in the world. Its robust and dynamic economy has achieved much in the last two decades of the reform period. How has the Indian economy been performing?

What should be done to revive GDP growth? How can infl ation be controlled? Is fi scal policy pro- or countercyclical in India? Providing answers to topical questions as these, this India Development Report, the seventh in the IDR series, examines:

Macroeconomic developments and the growth process Performance of agriculture, manufacturing, and services sectors Issues related to borrowings by Indian firms Energy security and climate change Urban civic services, urban migration, and urban mobility Poverty, inequality, and human development; and Emerging issues such as corruption and governance failures.

IDR 2012-13 provides a comprehensive assessment of the post-reform performance of the Indian economy and the policies needed in the next decade and beyond to achieve the 'faster, more inclusive and sustainable growth' envisaged in the Twelfth Five Year Plan.