Synopsis The process of liberalization that started in the early 1990s has continued unabated for the last decade and a half notwithstanding the fact that political power at the center has changed many hands. It has now become difficult to run away from the harsh reality of the negative outcome of this liberalization-privatisation-globalisation (LPG) process. An economic growth that contributes so liberally to the bonanza reaped by a few individuals cannot by its very nature and structure help improve the material and social conditions of the millions who cannot even afford two square meals every day. Growing inequalities, unemployment, poverty and an unjust financial and environmental burden on coming generations are facets of this process that are becoming all too apparent. The essays in the present volume show how disequalising, and hence anti-people, the pursuit of economic liberalization has been the installation of the United Progressive Alliance Government with the crucial support of major left parties in Parliament and the formulation of the National Common Minimum Programme which contains specific clauses to halt indiscriminate liberalization and privatization, it was hoped, would provide a ray of hope in an otherwise bleak scenario but it is becoming clear that the UPA government also includes a very powerful pro-liberalisation lobby, which does not allow for a meaningful implementation of such pro-people provisions. It is the this context that this 12th edition of the Alternative Economic Survey presents its review. The essays written by a group of social scientists and activists present an objective analysis using authentic information in a well articulated framework which recognizes the primacy of people’s interests.