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Synopsis ICSSR Institutions located in South India have been conducting the development Conventions every year since 2001-02 to promote social science research awareness among young researchers/scholars. Coupled with these, many professional economists also participate in such conventions. CMDR organized the 5th Development Convention in the month of April 2006 wherein valuable papers relating to the theme of "Sustainable development and the Indian economy-Approaches and challenges in the NEW Millennium" were presented and discussed. A Screening Committee which scrutinized the papers initially provided an opportunity to present only such papers, which were of thematic importance and analytical in nature. The authors were requested to revise the papers based on the suggestions and comments received during of the deliberations took place in the recent convention. The present book tries to put together these valuable papers on a variety of themes relating to issues of sustainability and development in Indian economy. The book is ideal for scholars and researchers, academicians, administrators as well as policy makers in the Indian context.