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Synopsis The ultimate aim of every economy, irrespective of economic system it believe, to achieve optimum level of economic development. The way of achieving economic development is full of challenges. All the nations of the world, irrespective of their level of economic development, always tries for further development. The economic development of all the sector of economy are closely related with each other, economic development one sector depends economic development of remaining sector, as economic development is a composite process. In this book, efforts have been made to evaluate direction of economy towards economic development and analysed the problems and challenges experienced in the past in the process of economic development and suggest measures to achieve better performance of the economy in future.