| Item | Average 2003-04 to 2007-08 (5 years) | Average 2009-10 to 2013-14 (5 years) | 2017-18 | 2018-19 | 2019-20 |
| 1 | 2 | 3 | 4 | 5 | 6 |
| I. Real Economy | | | | | |
| I.1 Real GDP at market prices (% change)* | 7.9 | 6.7 | 7.0 | 6.1 | 4.2 |
| I.2 Real GVA at basic prices (% change)* | 7.7 | 6.3 | 6.6 | 6.0 | 3.9 |
| I.3 Foodgrains Production (Million tonnes) | 213.6 | 248.8 | 285.0 | 285.2 | 296.7 |
| I.4 a) Food Stocks (Million tonnes at end-March) | 18.6 | 50.0 | 43.3 | 72.7 | 74.0 |
| b) Procurement | 39.4 | 61.3 | 68.2 | 80.4 | 73.6 |
| c) Off-take | 41.5 | 56.9 | 60.3 | 65.9 | 62.2 |
| I.5 Index of Industrial Production (% change) | 11.2 | 4.6 | 4.4 | 3.8 | -0.8 |
| I.6 Index of Eight Core Industries (% change) | 5.9 | 4.9 | 4.3 | 4.4 | 0.4 |
| I.7 Gross Domestic Saving Rate (% of GNDI at current prices)* | 33.6 | 33.9 | 32.0 | 29.7 | _ |
| I.8 Gross Domestic Investment Rate (% of GDP at current prices)* | 35.2 | 38.0 | 34.2 | 32.2 | _ |
| II. Prices | | | | | |
| II.1 Consumer Price Index (CPI) Combined (average % change) | _ | _ | 3.6 | 3.4 | 4.8 |
| II.2 CPI- Industrial Workers (average % change) | 5.0 | 10.3 | 3.1 | 5.4 | 7.5 |
| II.3 Wholesale Price Index (average % change)# | 5.5 | 7.1 | 2.9 | 4.3 | 1.7 |
| III. Money and Credit | | | | | |
| III.1 Reserve Money (% change) | 20.4 | 12.1 | 27.3 | 14.5 | 9.4 |
| III.2 Broad Money (M3) (% change) | 18.6 | 14.7 | 9.2 | 10.5 | 8.9 |
| III.3 a) Aggregate Deposits of Scheduled Commercial Banks (% change) | 20.2 | 15.0 | 6.2 | 10.0 | 7.9 |
| b) Bank Credit of Scheduled Commercial Banks (% change) | 26.7 | 16.7 | 10.0 | 13.3 | 6.1 |
| IV. Financial Markets | | | | | |
| IV.1 Interest rates (%) | | | | | |
| a) Call/Notice Money rate | 5.6 | 7.2 | 5.9 | 6.3 | 5.4 |
| b) 10 year G-Sec yield | 7.0 | 8.0 | 7.0 | 7.7 | 6.7 |
| c) 91-Days T-bill yield | - | - | 6.2 | 6.6 | 5.5 |
| d) Weighted Average cost of Central Government Borrowings | - | - | 7.0 | 7.8 | 6.9 |
| e) Commercial Paper | 7.7 | 8.4 | 7.0 | 7.6 | 6.6 |
| f) Certificate of Deposits## | 8.9 | 8.2 | 6.6 | 7.3 | 5.9 |
| IV.2 Liquidity (₹ lakh crore) | | | | | |
| a) LAF Outstanding~ | - | - | -0.6 | -1.5 | 2.6 |
| b) MSS Outstanding~~ | - | - | 0.0 | 0.0 | 0.0 |
| c) Average Daily Call Money Market Turnover | 0.2 | 0.3 | 0.3 | 0.4 | 0.3 |
| d) Average Daily G-Sec Market Turnover### | 0.1 | 0.2 | 0.5 | 0.4 | 0.6 |
| e) Variable Rate Repo$ | - | - | 2.6 | 1.6 | 0.9 |
| f) Variable Rate Reverse Repo$ | - | - | 0.2 | 0.0 | 1.2 |
| g) MSF$ | - | - | 0.53 | 0.94 | 0.02 |
| V. Government Finances& | | | | | |
| V.1 Central Government Finances (% of GDP) | | | | | |
| a) Revenue Receipts | 10.0 | 9.2 | 8.4 | 8.2 | 8.3 |
| b) Capital Outlay | 1.6 | 1.6 | 1.4 | 1.5 | 1.5 |
| c) Total Expenditure | 14.9 | 15.0 | 12.5 | 12.2 | 13.2 |
| d) Gross Fiscal Deficit | 3.7 | 5.4 | 3.5 | 3.4 | 4.6 |
| V.2 State Government Finances&& | | | | | |
| a) Revenue Deficit (% of GDP) | 0.4 | 0.0 | 0.1 | 0.1 | 0.6 |
| b) Gross Fiscal Deficit (% of GDP) | 2.7 | 2.2 | 2.4 | 2.1 | 2.8 |
| c) Primary Deficit (% of GDP) | 0.3 | 0.6 | 0.7 | 0.6 | 1.3 |
| APPENDIX TABLE 1: MACROECONOMIC AND FINANCIAL INDICATORS (Concld.) |
| Item | Average 2003-04 to 2007-08 (5 years) | Average 2009-10 to 2013-14 (5 years) | 2017-18 | 2018-19 | 2019-20 |
| 1 | 2 | 3 | 4 | 5 | 6 |
| VI. External Sector | | | | | |
| VI.1 Balance of Payments | | | | | |
| a) Merchandise Exports (% change) | 25.3 | 12.2 | 10.3 | 9.1 | -5.0 |
| b) Merchandise Imports (% change) | 32.3 | 9.7 | 19.5 | 10.3 | -7.6 |
| c) Trade Balance/GDP (%) | -5.5 | -9.1 | -6.0 | -6.6 | -5.5 |
| d) Invisible Balance/GDP (%) | 5.2 | 5.8 | 4.2 | 4.5 | 4.6 |
| e) Current Account Balance/GDP (%) | -0.3 | -3.3 | -1.8 | -2.1 | -0.9 |
| f) Net Capital Flows/GDP (%) | 4.7 | 3.8 | 3.4 | 2.0 | 2.9 |
| g) Reserve Changes [(BoP basis) (US$ billion) [(Increase (-)/ Decrease (+)] | -40.3 | -6.6 | -43.6 | 3.3 | -59.5 |
| VI.2 External Debt Indicators | | | | | |
| a) External Debt Stock (US$ billion) | 156.5 | 359.0 | 529.3 | 543.1 | 558.5 |
| b) Debt-GDP Ratio (%) | 17.8 | 20.9 | 20.1 | 19.8 | 20.6 |
| c) Import cover of Reserves (in Months) | 14.0 | 8.5 | 10.9 | 9.6 | 12.0 |
| d) Short-term Debt to Total Debt (%) | 13.6 | 21.3 | 19.3 | 20.0 | 19.1 |
| e) Debt Service Ratio (%) | 8.3 | 5.6 | 7.5 | 6.4 | 6.5 |
| f) Reserves to Debt (%) | 113.7 | 84.8 | 80.2 | 76.0 | 85.5 |
| VI.3 Openness Indicators (%) | | | | | |
| a) Export plus Imports of Goods/GDP | 30.7 | 41.0 | 29.3 | 31.5 | 27.8 |
| b) Export plus Imports of Goods & Services/GDP | 41.3 | 53.2 | 41.1 | 43.8 | 39.7 |
| c) Current Receipts plus Current Payments/GDP | 47.1 | 59.4 | 46.5 | 49.6 | 45.6 |
| d) Gross Capital Inflows plus Outflows/GDP | 37.3 | 50.4 | 45.1 | 38.0 | 39.6 |
| e) Current Receipts & Payments plus Capital Receipts & Payments/GDP | 84.4 | 109.8 | 91.6 | 87.5 | 85.3 |
| VI.4 Exchange Rate Indicators | | | | | |
| a) Exchange Rate (Rupee/US Dollar) | | | | | |
| End of Period | 43.1 | 51.1 | 65.0 | 69.2 | 75.4 |
| Average | 44.1 | 51.2 | 64.5 | 69.9 | 70.9 |
| b) 36 - Currency REER (% change) | 3.1^ | 0.8 | 4.5 | -4.8 | 2.4 |
| c) 36 - Currency NEER (% change) | 1.7^ | -4.9 | 3.1 | -5.6 | 0.9 |
| d) 6 - Currency REER (% change) | 4.4^ | 1.9 | 3.2 | -5.8 | 3.3 |
| e) 6 - Currency NEER (% change) | 1.6^ | -5.4 | 1.6 | -7.1 | 0.8 |
- : Not Available.
* : Data are at 2011-12 base year series.
# : Base year for WPI is 2011-12=100 for annual data and 2004-05=100 for average of 5 years inflation.
## : Data for column 2 pertains to April 13, 2007 to March 28, 2008.
### : Outright trading turnover in central government dated securities (based on calendar days).
~ : LAF outstanding as on March 31 (negative means injection).
~~ : Outstanding as on last Friday of the financial year.
$ : Outstanding as on March 31.
& : Data for 2019-20 are Provisional Accounts.
&& : Data upto 2017-18 pertains to all States and Union Territories. From 2018-19 onwards, data are provisional and pertains to 25 States only.
^ : Average of period 2005-06 to 2007-08.
Note : Real Effective Exchange Rate (REER) are based on CPI (combined).
Source : RBI, National Statistical Office, Ministry of Agriculture & Farmers Welfare, Ministry of Commerce and Industry, Food Corporation of India (FCI), Labour Bureau and Budget documents of the central and state governments. |