The Mid-Year Review of the Indian Economy was initiated at the India International Centre in the year 1975 by the late Professor Malcolm Adiseshiah, Convenor of the Economic Affairs Group of the Centre. Since 2001, the Malcolm and Elizabeth Adiseshiah Trust has supported the mid-year review project at the Centre, which comprises the annual seminar and the publication of the proceedings as a book that analyses the performance of the Indian economy, covering the state of the external economic environment. An eminent invited speaker evaluates the outlook for the discussed year in terms of expected growth, inflation, balance of payments, fiscal balances, savings and investment trends, and covers the state of important sectors of the economy, including the financial and corporate sectors. Long-term trends in the macro-economic performance of the Indian economy, the outlook and the policy responses required to meet these challenges are discussed. It is co-published by NCAER.