This book provides a lucid and concise introduction to the theoretical and practical aspects of macroeconomics. With India-centric examples, data, and case studies, it provides an overview of governmental policies and measures crucial to economic growth and development. Revised and updated, the second edition offers discussion on major schools of macroeconomic thought and the key economic variables; detailed overview of monetary and fiscal policies under various regimes; analysis of long-run economic growth discussing important growth models and theory; and newly expanded sections on business cycles, consumption theory, and economic liberalization.Written in an accessible and reader-friendly style, it presents a wider coverage of themes, updated statistics, tables, boxes, and illustrations, numerical examples, chapter-end exercises, and summary points, modeled in the Indian context. It will serve as an indispensible introductory text for undergraduate students and teachers of macroeconomics.