Economic development is a dynamic concept. This book offers an Indian perspective on the dynamics of economic development and the impact of legal and public policies in India. The objective of economic development is increasing efficiency of an economy along with ensuring equity and social justice and the consequent creation of institutions so as to build capacity for meeting human needs at all levels, especially for the most vulnerable. While it solves some old problems, newer issues come to the fore. The emergence of these issues is unique to the development experience of an economy.