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Vijay Joshi is emeritus fellow of Merton College, Oxford. His previous books on India (co-authored with I.M.D. Little) include India: Macroeconomics and Political Economy (1994), and India’s Economic Reforms (1996). He has, from time to time, held various official and business positions, including special adviser to the governor, Reserve Bank of India; officer on special duty, ministry of finance, Government of India; director, J.P. Morgan Indian Investment Trust; and consultant to several international organizations, including the World Bank. But the primary preoccupations of his working career have been teaching and research at the University of Oxford, in the fields of macroeconomics, international economics and development economics.