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Social capital is as an empirically elusive concept and has been subject to much discussion and debate with particular reference to its definition, functions, social regeneration, economic benefits, positive and negative aspects, indicators of measurement, gender insensitivity and its implications for development policy. Social capital is characterized by trust, reciprocity and cooperation which are non-material forms of capital, invisible to the eye but having visible effects. Of late, there has been much policy and academic interest in the capacity of social capital to generate micro-level effects such as efficient economics, democratic politics, active communities and broad-based growth. Debates about social capital as a multi-disciplinary and cross-disciplinary concept offer ground for sustained interaction and future theoretical development within the areas of social sciences, creating research ties and opening up networking opportunities between disciplines. The contribution of social capital to economic development can be assessed by considering the role of social cohesion that results from networks of trust and reciprocity in meeting the objectives like poverty alleviation. Social capital positively impacts output by providing human capital and access to other resources including credit. Treating knowledge and health as capabilities, some researchers have found vital links between social capital and Amertya Sen’s capability theory. The book will prove immensely useful to the students and teachers of social sciences, researchers in this field, policymakers, social workers and organisations concerned with social welfare. It will be equally interesting and informative for the general readers.