Mushrooms are well known for their nutritional as well as therapeutic values worldwide. Interest in mushrooms has peaked because immunity and cellular protection are important issues for health conscious consumers and for those individuals who are dealing with serious health issues. Mushrooms generally belong to Basidiomycetes which harbors numerous mushroom species with diversity of metabolites of nutraceutical and therapeutic significance. They have been reported to be the most valuable ones for humans. Investigations on the therapeutic and nutritional properties of mushrooms are underway throughout the world. Researchers are providing crucial data on the array of bioactive compounds found within these fascinating fungi. People are now accepting mushrooms more as food and food supplements. Various academic and research institutes are all involved actively in research on bioactive metabolites of mushrooms. The present paper aims at reviewing the diversity of mushrooms and the types of metabolites especially of nutraceutical and therapeutic importance present in these mushrooms and their role as bioactive agents.

White rot fungi are well known prominent and efficient producers of various extra-cellular enzymes that play an essential role in various industries including food, paper, textile, medicine, etc. Therefore, the two important white rot species of Lentinus cladopus and Pleurotus pulmonarius were screened for the qualitative profile of various enzymes on solid medium. The result obtained revealed the remarkable presence of different extracellular enzymes including cellulase, mannanase, xylanase, pectinase, amylase, lipase and protease by both the fungi. However Pleurotus pulmonarius was found to be more efficient in producing almost each screened enzymes in comparison to Lentinus cladopus.

India has faced the impossible trinity challenge after it opened up its capital account post-1990s reforms. Accordingly, simultaneous achievement of three macroeconomic objectives, namely exchange Rate Stability, capital openness and monetary independence, is an impossible task and any combination of two objectives can be achieved by losing the third one. This attempt, therefore, validates the existence of impossible trinity in India and investigates its impact on the stability of both, economic growth and prices. The signrestricted vector autoregressive (VAR) methodology has been used to confirm the existence of impossible trinity and to identify the best trilemma policy combination for the Indian economy in order to achieve stable output growth with steady prices. A trinity combination of "capital openness" and "exchange rate stability" is found to be the best in achieving stability of macroeconomic indicators under evaluation. Furthermore, the absence of trinity in India is inferred to ensure macroeconomic stability. However, maintaining its absence for a substantial period is noticed to be a nearimpossible task.