The fourth edition of Economics of Development and Planning, in two volumes, has been thoroughly revised and considerably enlarged. It has a wide coverage and comprehensively deals with all the essential topics on the subject including principles, problems and policies of development. To get a proper understanding of present problems and policies an examination has been made of the views on economic development of important economists like Adam Smith, David Ricardo, T.R. Malthus, John Stuart Mill, John Maynard Keynes, Karl Marx, J.A. Schumpeter, Sir Roy F. Harrod, Evsey Domar, Joan Violet Robinson, James E. Meade, P.C. Mahalanobis, Sir William Arthur Lewis, Harvey Leibenstein, Karl Gunnar Myrdal, Walt Whitman Rostow, etc. Other subjects covered in the book include capital formation from domestic as well as foreign sources, capital-output ratio, population, unemployment, balanced and unbalanced growth, theory of ‘big push’, deficit financing, inflation, monetary and fiscal policy, fiscal deficit, role of State, foreign trade, input-output analysis, linear programming, project evaluation, choice of techniques, vicious circle of poverty, occupation structure, role of public enterprise, resource allocation, etc. New chapters have been included on latest topics like Social Capital, Liberalisation and Globalisation of Indian Economy, and Special Economic Zones. Besides, the chapter ‘Planning in India’ has been updated right upto the Eleventh Five-Year Plan (2007-12). The book in the present form is more complete in coverage and hence, more useful to the students and teachers of Economics. The first eleven chapters will be of great interest to the students of History of Economic Thought. The book will immensely benefit those preparing for various competitive examinations and also help those concerned with the formulation and execution of policies for economic development.

Table of Contents:
Preface—1. Classical School; 2. Karl Marx; 3. Historical School; 4. Neo-Classical School; 5. Joseph A. Schumpeter; 6. John Maynard Keynes; 7. Secular Stagnation; 8. Harrod-Domar Model; 9. Joan Robinson’s Theory of Capital Accumulation; 10. Meade’s Neo-Classical Theory of Economic Growth; 11. Mahalanobis Model; 12. Lewis’ Model of Economic Development with Unlimited Supplies of Labour; 13. Leibenstein’s “Critical Minimum Effort Thesis”; 14. Myrdal on Economic Growth; 15. Rostow’s Stages of Economic Growth; 16. Production Function Approach to Growth; 17. Applicability of Economic Theory to Underdeveloped Countries; 18. What is an Underdeveloped Economy?; 19. Pre-requisites for Economic Development; 20. Factors Inhibiting Growth; 21. Factors in Economic Development; 22. Population and Economic Development; 23. Occupation Structure and Economic Development; 24. Capital Formation: Domestic Sources; 25. Capital Formation: Foreign Sources; 26. Capital-Output Ratio; 27. Unemployment in an Underdeveloped Economy; 28. Balanced and Unbalanced Growth; 29. Theory of ‘Big Push’; 30. Deficit Financing; 31. Inflation; 32. Monetary Policy