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Synopsis Indian economy has witnessed multi-dimensional changes during post-reform period. Actually, economic reforms initiated in the year 1991 have divided economic history of India into two parts viz., pre-reforms and post-reforms economy of India. Needless to mention, these reforms have not only influenced the macro aggregates of our economy but different individual economic sectors also. At the same time this has opened many new economic issues for discussion. Moreover, these reforms have divided the fraternity of economists into two groups—one which applauds the miracles of reforms and opines that the reforms are panacea for all ailments of the economy and the other one is highly critical of the very philosophy of reforms and their introduction in India. There is another group, which adopts the safe mid-path. It agrees on the point that openness is essential but not at the cost of national interests. As such three distinct groups of economists are pondering over the issues of reforms and take their stands as suitable to their rationality. This has necessitated taking an overall account of the implications of economic reforms. The present book is the outcome of this endeavour only. This book consists of three sections. Section I is devoted to the reforms in the economic sector, whereas sections II and III deal with the reforms in the social sector and federal finances respectively. In total 48 papers authored by reputed economists of India are being presented in this book. Each paper presents an in-depth analysis substantiated by the latest facts and figures. It is hoped that the book would be found highly useful by students, research scholars, teachers and policy makers. The book would also be found of great interest by the layman interested in following the changing trends of Indian economy.