India Economic Update, June 2010

India Economic Update, June 2010

India's economic performance in FY2009/10 shows that the recovery from the slowdown during the global financial crisis is well underway. India's Gross domestic Product (GDP) growth in FY2009/10 has beaten expectations by reaching 7.4 perc...

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Bibliographic Details
Main Author:	World Bank
Format:	Report
Language:	English en_US
Published:	Washington, DC 2017
Subjects:	ACCOUNTING ADVERSE CONSEQUENCES AGGREGATE DEMAND AGRICULTURAL OUTPUT AGRICULTURE ARREARS AUCTIONS BANK BRANCH BANK CREDIT BANK INTEREST RATES BANKING SYSTEM BASIS POINTS BONDS BRANCH NETWORK BUDGET DEFICIT BUYBACKS CAPACITY CONSTRAINTS CAPITAL ACCOUNT CAPITAL ACCOUNT LIBERALIZATION CAPITAL FLOWS CAPITAL FORMATION CAPITAL GROWTH CAPITAL INFLOWS CAPITAL MARKET CAPITAL MARKET LIBERALIZATION CAPITAL OUTFLOWS CASH RESERVE CASH RESERVE RATIO CASH TRANSFER CENTRAL BANKS COMMODITY PRICE COMMODITY PRICES COMPENSATION FUND COMPETITIVENESS CONFIDENCE INDEX CONFIDENCE INDICES CONSUMER DURABLES CONSUMER GOODS CONSUMER PRICE INDEX CONSUMERS CONSUMPTION SMOOTHING CONVERTIBLE BONDS CREDIBILITY CREDIT GROWTH CURRENCY CURRENT ACCOUNT DEFICIT DEBT CRISES DEBT CRISIS DEBT INSTRUMENTS DEBT RATIOS DEBT RELIEF DEFICITS DEPOSIT DEPOSIT ACCOUNT DEPOSITORS DEPOSITS DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT BANK DEVELOPMENT FINANCE DIRECT INVESTMENT DOMESTIC CREDIT DOMESTIC MARKET ECONOMIC INTEGRATION ECONOMIC PERFORMANCE ECONOMIC POLICIES ECONOMIC SURVEYS ECONOMIES OF SCALE ELASTICITY EMERGING ECONOMIES EMERGING MARKET EMERGING MARKET COUNTRIES EMERGING MARKET ECONOMIES EMERGING MARKETS END USE EQUITY MARKET EXCESS DEMAND EXCESS LIQUIDITY EXCHANGE RATE EXCISE TAXES EXPENDITURE EXPENDITURES EXPORT GROWTH EXPORTS EXTERNAL BORROWING EXTERNAL COMMERCIAL BORROWING EXTERNAL DEBT FINANCIAL ASSETS FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL STABILITY FINANCIAL SYSTEM FISCAL DEFICIT FISCAL DISCIPLINE FISCAL POLICIES FISCAL POLICY FIXED CAPITAL FIXED INCOME FIXED INCOME SECURITIES FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FOREIGN EXCHANGE RESERVES FOREIGN INVESTMENT FOREIGN INVESTMENTS FOREIGN INVESTORS FULL EMPLOYMENT GDP GLOBAL ECONOMY GLOBAL TRADE GOVERNMENT ACCOUNTING SYSTEM GOVERNMENT BANK GOVERNMENT BONDS GOVERNMENT BUDGET GOVERNMENT DEBT GOVERNMENT DEFICIT GOVERNMENT EXPENDITURE GOVERNMENT FINANCES GOVERNMENT REVENUES GOVERNMENT SPENDING GROWTH RATE HOLDINGS HOME MARKET HOUSEHOLD SAVINGS HUMAN CAPITAL IMPLICIT SUBSIDIES INCOME TAX INDUSTRIALIZATION INFLATION INFLATION RATE INFLATION RATES INFLATIONARY EXPECTATIONS INFLATIONARY PRESSURE INFLATIONARY PRESSURES INFRASTRUCTURE INVESTMENT INTEREST PAYMENTS INTEREST RATES INTERNATIONAL CAPITAL INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL CRISES INTERNATIONAL MARKETS INTERNATIONAL SETTLEMENTS INVENTORIES INVESTING INVESTMENT FLOWS INVESTMENT PORTFOLIO INVESTMENTS IN EQUITIES LEVEL OF DEBT LIQUIDITY LOW INTEREST RATES M3 MACROECONOMIC MANAGEMENT MACROECONOMIC POLICIES MARKET PRICE MARKET PRICES MARKET SIZE MATURITY MATURITY STRUCTURE MICROFINANCE MICROFINANCE INSTITUTIONS MONETARY POLICY MONEY SUPPLY NATIONAL BANK NATIONAL SAVINGS NATURAL RESOURCES OIL PRICE OIL PRICES OPEN MARKET PENSIONS PER CAPITA INCOME PER CAPITA INCOMES PORTFOLIO PORTFOLIO DIVERSIFICATION PORTFOLIO FLOWS PORTFOLIO INVESTMENT PORTFOLIO INVESTMENTS PREPAYMENT PRICE INCREASES PRICE STABILITY PRIVATE INVESTMENT PRODUCTION COSTS PRODUCTIVITY GROWTH PROFIT MARGIN PROVISION OF CREDIT PUBLIC DEBT PUBLIC FINANCES PUBLIC SECTOR BANKS REAL EXCHANGE RATE REAL GDP REAL INTEREST REAL INTEREST RATE REAL INTEREST RATES REPO REPO RATE REPO RATES RESERVE RESERVE BANK RESERVES RETURN RETURNS RISK AVERSION RURAL BANKS RURAL COOPERATIVE BANKS SHORT-TERM CAPITAL STATISTICAL ANALYSIS STOCK MARKET STOCKS TAX TAX COLLECTION TOTAL DEBT TRADE CREDITS TRADING TRANSACTION TRANSPARENCY UNEMPLOYMENT VALUATION VALUATION CHANGES WAGES WHOLESALE PRICE INDEX WHOLESALE PRICES
Online Access:	http://documents.worldbank.org/curated/en/196021468267366378/India-economic-update http://hdl.handle.net/10986/27774

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Summary:	India's economic performance in FY2009/10 shows that the recovery from the slowdown during the global financial crisis is well underway. India's Gross domestic Product (GDP) growth in FY2009/10 has beaten expectations by reaching 7.4 percent compared with 6.7 percent in the previous year. In particular, agricultural sector growth was better than feared with a slightly positive growth rate despite the worst monsoon shortfall in three decades. Strong growth in the fourth quarter pushed annual GDP growth to 7.4 percent in 2009-10. Fourth quarter growth reached 8.6 percent (y-o-y), the highest quarterly growth rate since the end of FY2007/08. The industrial sector's robust recovery beat expectations. Growth in the last quarter of fiscal year FY2009/10 was an unexpectedly high 13.3 percent resulting in over 12 percent growth in the second half of year, nearly double the 6 percent growth witnessed in the first half. Higher inflation mars the bright picture, but there are clear indications of moderation. Inflation as measured by the wholesale price index (WPI) averaged 10 percent during February-May 2010. India's recovery after the slowdown seems well underway. Growth is projected to climb to 8-9 percent in the next two years. These growth rates are achievable without a renewed build-up of inflationary pressure as long as agricultural growth returns to trend, infrastructure constraints are alleviated, and international prices remain stable. Over the next year, sources of growth will shift from fiscal stimulus to manufacturing and, possibly a recovering agriculture.