Introduction / Prabhat Patnaik -- Open-economy macroeconomic themes for India / Amitava Krishna Dutt -- Closed-economy structuralist models for a less developed economy / Amiya Kumar Bagchi -- The macroeconomics of imbalance and adjustment / C.P. Chandrasekhar -- State intervention in the macroeconomy / Jayati Ghosh -- Macroeconomic character of the Indian economy / V. Pandit