ICRIER research is disseminated in the form of seminars, working papers and other publications. By its nature high quality research must meet academic standards of thoroughness. This sometimes makes it too long and difficult for the general educated reader who is interested in the essential ideas and policy implications without necessarily requiring the same degree of documentation as the academic community. We need to reach a wider circle of opinion makers who perhaps do not have the time to delve too deeply into the intricacies of each topic but are interested in and would benefit from research based policy advise. It is therefore necessary to simplify and shorten the presentation. This series of Policy Briefs is our attempt to bring to a wider audience a discussion of policy issues based on relevant research findings.