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Synopsis The mainstream economics has totally failed in solving concurrent economic issues of the countries of the world in general and under-development countries in specific. There is no proper economic policy which can solve these problems. Liberalization, Privatization and Globalization lead new economics policy creates more complicated and serious problems. In this context there is an urgent need to search new Economics for new Economic Theory and Policy determination for solving these destructive, dangerous and very harmful problems. For better, useful, fruitful, effective, real, practical, welfare and human oriented, Economic theory and policy formation, search of New Economics is inevitable. These are many limitations of mainstream Economics. This book is trying to give new approach, new way of thinking, new ideas and direct usefulness in the subject, we have discussed nature and scope of new economics. It would be based on ethics, human being women empowerment, rural and agricultural development, integrated development, need based and value based education, new approach, direction of the planning. Gandhian economic thought, great ideas of Indian cultural, etc., Man Should be central in this new economics. We have discussed these very widely in this book. In this book we have narrated original and novel ideas and approaches. This is starting of new thinking only. We have trying to show new path to the economists, researchers and scholars of the subject and we hope that this will be very useful to all the scholars, teachers, researchers and students of the economics.