Economic Development Monthly Report: Analysis of Indian Economy | IBEF

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January 07, 2019

During November 2018, production of eight core infrastructure industries grew by 3.5 per cent year-on-year, as compared to 6.9 per cent growth in November 2017. The growth of eight core industries during April–November 2018 was 5.1 per cent, as compared to 3.9 per cent growth during April-November 2017.

Overall year-on-year growth in the Index of Industrial Production (IIP) was 8.1 per cent in October 2018, which was at 1.8 per cent in October 2017. During April–October 2018, IIP growth stood at 5.6 per cent as compared to growth of 2.5 per cent during April–October 2017.

Foreign exchange reserves stood at US$ 393.7 billion as on November 30, 2018, as compared to US$ 424.5 billion at end March 2018.

For the fortnight ended on November 23, 2018, Broad money supply (M3) grew by 10.4 per cent year-on-year, as compared to a growth of 8.4 per cent recorded in the corresponding period in the previous year.

Wholesale Price Inflation (WPI) decreased to 4.6 per cent in November 2018 from 5.3 per cent in October 2018. Consumer Price Inflation (CPI) as per new series (combined) decreased to 2.3 per cent in November 2018 from 3.4 per cent in October 2018.

Gross Tax Revenue (GTR) collection grew by 7.1 per cent year-on-year in April-November 2018 to Rs 1,164,685 crore (US$ 166.55 billion).

As per the quarterly estimates, the growth of Gross Domestic Product (GDP) at constant (2011-12) market prices stood at 7.1 per cent, during April-September 2018.

Provision estimates of (GDP) released by the Central Statistics Office (CSO) in May 2018, estimated the growth rate of GDP at constant (2011-12) market prices for FY 2017-18 at 6.7 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 (2011-12) 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 3.4 per cent, 5.5 per cent and 7.9 per cent respectively for 2017-18.

Note: Conversion rate used as on December 31, 2018: Rs 1 = US$ 0.0143

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