Introduction to the Volume; R.Jha PART I: MEGA TRENDS IN INDIA – ECONOMICS AND POLITICS Coalitions and Consequences: Historical, Economic, Social and Political Considerations from India; R.Jeffrey The Indian Economy: Current Performance and Short-run Prospects; R.Jha PART II: EMERGING ISSUES IN FISCAL POLICY IN INDIA Ten Years of Policy-Based Sub-National Lending to India: A Retrospective; S.Howes, D.Mishra and V.J.Ravishankar Pension Reforms in India; M.Asher PART III: INDIA'S EXTERNAL SECTOR Export Performance in the Reform Era: Has India Regained the Lost Ground?; P-C.Athukorala Manufacturing Protection in India: 1971–2005; G.Pursell, N.Kishor and K.Gupta Free Trade Arrangement between India and Japan: An Exploratory Analysis; K.Kalirajan and S.Bhattacharya PART IV: TRENDS AND PROSPECTS FOR INDIA'S SOCIAL SECTOR Opportunities and Challenges on Human Development; A.Deolalikar Microfinance, Self-Help Groups and Empowerment in Maharashtra; R.Gaiha and M.Nandhi Urban Vulnerability Reduction: Regulations& Beyond; V.Thiruppugazh PART V: SECTORAL ISSUES Agricultural Trade Policies and Rural Poverty: Where is India Heading?; G.Pursell and P.Warr Market Integration in Indian Agriculture; R.Jha, K.V.Bhanu Murthy and A.Sharma Supermarkets, Smallholders and Livelihoods — Prospects in Selected Asian Countries; R.Gaiha and G.Thapa Privatisation and FDI in India; T.T.Ram Mohan Energy Issues in Indian Economic Development; R.Ahuja Consumption of Newsprint in India; R.Jha and U.N.Bhati