Synopsis This book deals with two very important aspects of macro economic policies in India. Fiscal and monetary policies are the twin most vital instruments of the control system of economic mechanism in a country and fiscal and monetary conditions are the two most valid and transparent barometers of the economic financial and monetary state of affairs, condition, health and well-being of an economy. Banking directly relates with the monetary policy and public finance has direct relationship with the fiscal policy of a country. These two important policies of a nation try to achieve the most needed economic targets of economic growth, full employment, price stability, balance of payments, poverty eradication, elimination of income disparities, smoothening regional disparities, capital formation, capital import, capital investment and sustainable development through protection of environment etc. This book contains papers on fiscal policy, fiscal deficits, monetary policy and picture of some aspects of banking in India, especially in the current economic scenario of L.P.G. viz. liberalisation, privatisation and globalisation. It includes papers on different aspects and different regimes. It is hoped that the book will be useful to the academic world as well as the economy, polity and society.