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    Economic Development Monthly Report: Analysis of Indian Economy | IBEF

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March 12, 2019

During January 2019, production of eight core infrastructure industries grew by 1.8 per cent year-on-year, as compared to 6.2 per cent growth in January 2018. The growth of eight core industries during April 2018 –January 2019 was 4.5 per cent, as compared to 4.1 per cent growth during April 2017 -January 2018.

Overall year-on-year growth in the Index of Industrial Production (IIP) was 2.4 per cent in December 2018, which was at 7.3 per cent in December 2017. During April–December 2018, IIP growth stood at 4.6 per cent as compared to growth of 3.7 per cent during April 2016 –December 2017.

Foreign exchange reserves stood at US$ 398.2 billion as on January 25, 2019, as compared to US$ 424.5 billion at end of March 2018.

For the fortnight ended on January 18, 2019, Broad money supply (M3) grew by 10.4 per cent year-on-year, same as the pace of growth recorded in the corresponding period of the previous year.

Wholesale Price Inflation (WPI) decreased to 2.8 per cent in January 2019 from 3.8 per cent in December 2018. Consumer Price Inflation (CPI) as per new series (combined) decreased to 2.0 per cent in January 2019 from 2.1 per cent in December 2018.

Gross Tax Revenue (GTR) collection grew by 7.3 per cent year-on-year in April 2018 -January 2019 to Rs 1,562,383 crore (US$ 218.73 billion).

Second Advance Estimates of Gross Domestic Product (GDP) released by the Central Statistics Office (CSO), estimated the growth rate of GDP at constant (2011-12) market prices for FY 2018-19 at 7.0 per cent.

As per the quarterly estimates, the growth of Gross Domestic Product (GDP) at constant (2011-12) market prices stood at 6.6 per cent, during October-December 2018.

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 2.7 per cent, 7.7 per cent and 7.4 per cent respectively for 2018-19.

Note: Conversion rate used as on February 28, 2019: Rs 1 = US$ 0.0140

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