This book analyses the importance of human resource in economic development and examines in detail whether labour could be blamed for all the ills of the public sector enterprises in India. Dr. Aggarwal presents a comprehensive analysis, in this context, of the wage-productivity relationship and examines the same for public sector enterprises at the industry and firm level. The attention has been focused on public enterprises because of the growing criticism, as a result of the wave of economic liberalization, about its disappointing profitability and efficiency. The author examines in detail how the role of state-intervention in economic development has been changing and how the pendulum has swung from one extreme of pure market economy to complete state control and back to market economy once again. In this context he present a comprehensive analysis of the growth and objectives of public sector enterprises in India, both before and after 1991, when public sector reforms were made part of the overall reform programmes. The book makes available in one place a substantive discussion of various economic issues related to wages, productivity and public enterprises for students of labour economics, public finance, industrial economics and all those who are interested in the performance of public sector enterprises of the Indian economy.

Capital markets play a crucial and effective role in the economic development a nation. It provides the financial resources needed for the long term and sustainable development of the different sectors of the economy. The health of the economy is reflected in the two wings of the capital market, i.e. New Issue market and the secondary market. The present study makes an endeavour to outline the theoretical, legal and operative framework and present position of New Issue market and have a detailed study of its emerging dimensions so as to discover the strengths and weakness of the market and to help in understanding the future trends and tendencies of New Issue market. An effort is being made here to examine the conceptual, legal and policy framework governing the operations of the New Issue market which is an important constituent of the corporate financial system in India and highlights the drawbacks and malpractices with special reference to the small equity investors and makes suggestions to develop the equity cult on the sustainable path.

It is generally believed that public sector is credited with the social welfare function. As against it, the private sector has the image of exploitation efficiency. The two sectors therefore, by their very nature suffer from different kinds of weaknesses. Though deprived of its dominant role, it has still to play an important role both at the central as well as at the state level if the economic development has to have a human face. Hence, revamping of the system lining of its functioning needs serious attention. The present study attempts to make a detailed, comprehensive and systematic analysis of Public Sector Undertakings of Uttar Pradesh within the national framework with a view to make this sector economically more viable. The basic philosophy for setting up these state enterprises was to bring about a result oriented cost benefit approach to the developmental activities accelerate growth in different sectors of the economy through specialized agencies and finally to ease the burden on State financial resources through use of institutional finance. Setting up of these numerous enterprises reveals the Government's desire and intention to bring about a rapid all-round growth of the State with its meager resources.

Development is a dynamic concept. Not only it changes is space and time but has different meanings for different nations, ethnic groups and people. In fact, there is hardly any unanimity on the meaning of development among thinkers and decision makers. The only thing on which every one agrees is that economic development is necessary for the survival of mankind on the earth surface. Every one wants it, although in his own image, and perhaps in his own way. The author in the present book defines development as a process of over all societal changes. He has adopted an anthropocentric approach, placing man at the central point of this process of socio-cultural transformation. How the process of development has accelerated after the Second World War, especially in the developing countries has been highlighted in the book. The consequent social transformation and emergence of new values at the cost of simple style of living of the economically less developed societies have also been examined systematically with suitable examples from some of the development countries. Especially from India, Pakistan, Argentina and Tanzania. The author has also discussed, how the cultural ethos, socio-cultural imperatives, technological advancement and general add regional issues determine the levels of economic development at the macro, meso and micro levels. The complex issues of economic development and socio-cultural implications of rapid economic development have also examined at length in the present essay. Born out of Mr. Ali Jawad's rich administrative, planning and varied experience in India and Pakistan and his indepth study of the available literature on social and physical science, the present book is addressed to the laymen and women who if they benefit even so little will have repaid the efforts of writing them. The author has underscored the point that development should be economically viable, socially acceptable, and environmentally sustainable and therefore the book has more than academic value for the planners, teachers and students alike.