Contents: - The Controversial Arun III Hydroelectric Project Angst and Factors Behind the Scuttle / S B Pun - Nepal-India Trade: Challenges and Opportunities / Bishwambher Pyakuryal - Estimation of Elasticity and Buoyancy of Taxes during Nepal?s Pre-and Post-Liberalization Period / Ashok Shumshere J.B.R. - Dynamics of Nepal?s Foreign Policy / Ram Kumar Dahal - Women Empowerment : Perception of Women Members in Constituent Assembly / Puspha Kamal Subedi - Civic Education and Democracy in Nepal / Bidur Prasad Phuyal A Quarterly publication of Sangam Institute for Policy Analysis and Strategic Studies