The global outlook today is less encouraging. The developed countries are yet stuck with low growth, while the growth is picking up in emerging countries and the low income countries are struggling with low prices. Inequality, conflicts and migrations are the consequences. Also, there are challenges posed by demographic pressures, climate change and new technologies. There is need to use all policy tools, monetary , fiscal and structural, to maximize the synergies within countries. There is need to manage the economic transition wisely, so that greater prosperity for all can be achieved. It is very relevant to explore into these issues and find solutions.