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    Economic Development Monthly Report: Analysis of Indian Economy | IBEF

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June 07, 2018

During March 2018, eight core infrastructure industries grew by 4.1 per cent year-on-year, as compared to 5.3 per cent growth in February 2018. The growth of core industries during 2017-2018 was 4.2 per cent, as compared to 4.8 per cent growth during 2016-17.

Overall year-on-year growth in the Index of Industrial Production (IIP) was 4.4 per cent in March 2018, which was same as in March 2017. During 2017-2018, IIP growth was 4.3 per cent as compared to growth of 4.6 per cent during 2016-17.

Foreign exchange reserves stood at US$ 420.4 billion as on 27th April 2018, as compared to US$ 424.5 billion at end March 2018.

Broad money supply (M3) on 27th April 2018 stood at 10.6 per cent, as compared to a growth of 6.7 per cent recorded in the corresponding period in the previous year.

Wholesale Price Inflation (WPI) increased to 3.2 per cent in April 2018 as compared to 2.5 per cent in March 2018. Consumer Price Inflation (CPI) as per new series (combined) increased to 4.6 per cent in April 2018 as compared to 4.3 per cent in March 2018.

Gross tax revenue collection for 2017-2018 was Rs 19,19,182 crore (US$ 297.78 billion) as compared to Rs 17,15,822 crore (US$ 266.23 billion) during 2016-2017.

Second advance estimates of Gross Domestic Product (GDP) released by the Central Statistics Office (CSO) in February 2018, estimated the growth rate of GDP at constant (2011-12) market prices for FY 2017-18 at 6.6 per cent. As per the first revised estimates of national income released by CSO in 2017-2018, growth rate of Gross Domestic Product (GDP) at constant market prices was 7.1 per cent in 2016-17 and 8.2 per cent in 2015-16.

The growth of Gross Value Added (GVA) at constant (2011-12) basic prices for agriculture and allied sectors, industry sector and services sector are estimated at 3.0 per cent, 4.8 per cent and 8.3 per cent respectively for 2017-18.


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