This book analyses the major issues of macroeconomics in an environment of economic liberalisation using theory and empirical results. It focuses on income, employment, consumption, investment, money, rate of interest and growth. Special attention has been given to the trade sector including exchange rate, export, import, capital flows and trade balance. The other issues like service sector growth, increasing private investment on human capital, research and development expenditure, expansion of the informal sector, fiscal management and poverty alleviation have been analysed through a macro perspective. The role of domestic consumption in growth has been critically examined. The monetary and fiscal policies have been given due attention. The whole work is based on sound theoretical framework and rigorous econometric exercises. Although the study has been conducted in the Indian context, the issues and findings are very much relevant for other developing countries. This book will be very useful to students, teachers and researchers.
