The India Development Report 2008, the fifth in the series, provides a comprehensive overview of Indian economy focusing on major issues of current relevance. Reviewing India's contemporary development, it offers pointers for making growth pro-poor. Beginning with a broad overview of the growth and development of the Indian economy the report highlights emerging macroeconomic trends and future growth prospects. It discusses agrarian crisis and farmers' suicides, trends in employment and unemployment, quality and adequacy of higher education, and urban inequalities and well being. The report also examines monetary policy and exchange rates, bank credit flow to agriculture and SMEs, competitive advantage and competitiveness of exports in India and China, integration of Indian textiles sector with the global economy, and labour market implications of globalization. An appendix with time-series data on the macro economy has been especially added for researchers and policy makers.