Markets Actual Q4 Q1 Q2 Q3 2021
Currency 73.93 74.17 74.51 74.86 75.2 75.88
Stock Market (points) 44149.72 43172 42168 41192 40237 38328
Government Bond 10Y (%) 5.91 5.96 6.01 6.07 6.12 6.24

Overview Actual Q4 Q1 Q2 Q3 2021
GDP Growth Rate (%) -25.20 3.5 1.9 2.3 1.4 2.2
GDP Annual Growth Rate (%) -7.50 -4 2.5 15 8.5 5.5
Unemployment Rate (%) 7.00 7 7.2 6.9 6.5 6.3
Inflation Rate (%) 7.61 6.9 6.2 5 5.5 4.5
Interest Rate (%) 4.00 3.75 3.5 3.5 3.5 3.5
Cash Reserve Ratio (%) 3.00 3 3 3 3 3
Balance of Trade (USD Million) -8780.00 -14100 -9200 -11100 -11750 -14100
Current Account (USD Million) 19800.00 7000 -10000 -17000 -15000 -12600
Current Account to GDP (%) -0.90 0.4 -1.5 -1.5 -1.5 -1.5
Government Debt to GDP (%) 69.62 75 80 80 80 80
Government Budget (% of GDP) -4.59 -10 -7.4 -7.4 -7.4 -7.4
Business Confidence (points) 99.50 104 115 116 118 99
Manufacturing PMI (points) 58.90 50.8 51.4 52 51 51
Services PMI (points) 54.10 51.9 53.2 52 51 52.6
Consumer Confidence (points) 63.70 81 95 93 96 89
Corporate Tax Rate (%) 25.17 35 25.17 25.17 25.17 35
Personal Income Tax Rate (%) 35.88 35.88 35.88 35.88 35.88 35.88

GDP Actual Q4 Q1 Q2 Q3 2021
GDP Growth Rate (%) -25.20 3.5 1.9 2.3 1.4 2.2
GDP Annual Growth Rate (%) -7.50 -4 2.5 15 8.5 5.5
GDP (USD Billion) 2875.14 2610 2850 2850 2850 2850
GDP Constant Prices (INR Billion) 33141.67 39924 34970 38987 43741 42519
Gross National Product (INR Tens Of Million) 14522931.00 15917344 13942014 14886004 16701371 16951971
Gross Fixed Capital Formation (INR Billion) 9596.28 13203 10290 11217 12585 14061
GDP per capita (USD) 2169.10 1900 2100 2100 2100 2100
GDP per capita PPP (USD) 6754.30 6610 7500 7500 7500 7500
GDP From Agriculture (INR Billion) 3802.39 6687 5855 5439 6102 7121
GDP From Construction (INR Billion) 2231.21 3142 2490 2737 3071 3346
GDP From Manufacturing (INR Billion) 5796.83 6445 5342 6209 6966 6864
GDP From Mining (INR Billion) 626.74 994 812 1120 1257 1058
GDP From Public Administration (INR Billion) 4083.26 4921 4609 4937 5539 5241
GDP From Utilities (INR Billion) 830.51 808 699 767 861 860

Labour Actual Q4 Q1 Q2 Q3 2021
Unemployment Rate (%) 7.00 7 7.2 6.9 6.5 6.3
Labor Force Participation Rate (%) 49.80 51.5 51.5 52 52 52.5
Population (Million) 1312.24 1326 1340 1340 1340 1340
Retirement Age Women 60.00 60 60 60 60 60
Retirement Age Men 60.00 60 60 60 60 60
Minimum Wages ( INR/Day) 178.00 178 178 178 178 178
Youth Unemployment Rate (%) 23.70 26 26 26 26 26

Prices Actual Q4 Q1 Q2 Q3 2021
Inflation Rate (%) 7.61 6.9 6.2 5 5.5 4.5
Consumer Price Index CPI (points) 158.40 161 158 159 165 168
GDP Deflator (points) 138.80 144 143 142 142 145
Producer Prices (points) 123.80 125 124 122 127 131
Producer Prices Change (%) 1.48 1.8 2.7 2.5 3.4 4.5
Export Prices (points) 402.00 385 400 400 400 400
Import Prices (points) 569.00 510 515 515 515 515
Food Inflation (%) 11.07 8.8 7 6 6.1 5.3
Inflation Expectations (%) 10.20 10.6 10.3 9.5 9.6 9.1
Inflation Rate Mom (%) 1.16 0.6 0.8 1.2 0.6 0.9
Cpi Housing Utilities (points) 158.00 163 165 162 165 171
CPI Transportation (points) 140.40 139 138 142 148 145

Money Actual Q4 Q1 Q2 Q3 2021
Interest Rate (%) 4.00 3.75 3.5 3.5 3.5 3.5
Cash Reserve Ratio (%) 3.00 3 3 3 3 3
Interbank Rate (%) 2.98 3.11 3.11 3.11 3.11 3.11
Central Bank Balance Sheet (INR Billion) 28636.28 25500 19100 18300 17500 17900
Foreign Exchange Reserves (USD Million) 575290.00 533000 510000 500000 513000 522000
Loan Growth (%) 5.70 5.4 5.9 6.1 6.3 6.2
Reverse Repo Rate (%) 3.35 3.1 3.1 3.1 3.1 3.1

Trade Actual Q4 Q1 Q2 Q3 2021
Balance of Trade (USD Million) -8780.00 -14100 -9200 -11100 -11750 -14100
Current Account (USD Million) 19800.00 7000 -10000 -17000 -15000 -12600
Current Account to GDP (%) -0.90 0.4 -1.5 -1.5 -1.5 -1.5
Imports (USD Million) 33600.00 32400 35800 38500 39850 37200
Exports (USD Million) 24820.00 24200 26600 27400 28100 29900
Terms of Trade (points) 73.70 78.04 75.49 77.67 77.67 84.21
Foreign Direct Investment (USD Million) 2412.00 5800 3200 2800 1700 2600
Capital Flows (USD Million) -780.34 -230 29 100 -75 7.98
Remittances (USD Million) 12426.61 14000 14900 14800 14000 13800
Tourist Arrivals 328462.00 250000 310000 390000 395000 400000
Gold Reserves (Tonnes) 668.25 632 632 632 650 650

Government Actual Q4 Q1 Q2 Q3 2021
Government Debt to GDP (%) 69.62 75 80 80 80 80
Government Budget (% of GDP) -4.59 -10 -7.4 -7.4 -7.4 -7.4
Government Budget Value (INR Billion) -9531.54 -6208 -6208 -7600 -7500 -6208
Government Spending (INR Billion) 3623.68 3890 3722 3903 4379 4143
Government Revenues (INR Billion) 7083.00 4500 9500 10200 10700 11500
Fiscal Expenditure (INR Billion) 16614.54 16700 17100 17700 18000 19500
Government Spending To GDP (% of GDP) 13.21 13.6 14 14 14 14

Taxes Actual Q4 Q1 Q2 Q3 2021
Corporate Tax Rate (%) 25.17 35 25.17 25.17 25.17 35
Personal Income Tax Rate (%) 35.88 35.88 35.88 35.88 35.88 35.88
Sales Tax Rate (%) 18.00 18 18 18 18 18
Social Security Rate (%) 24.00 24 24 24 24 24
Social Security Rate For Companies (%) 12.00 12 12 12 12 12
Social Security Rate For Employees (%) 12.00 12 12 12 12 12

Business Actual Q4 Q1 Q2 Q3 2021
Business Confidence (points) 99.50 104 115 116 118 99
Manufacturing PMI (points) 58.90 50.8 51.4 52 51 51
Services PMI (points) 54.10 51.9 53.2 52 51 52.6
Industrial Production (%) 0.20 6.8 5.4 3.9 6.7 4.5
Industrial Production Mom (%) 5.40 2 0.9 1.4 0.8 1
Manufacturing Production (%) -0.60 7 7 4.2 3.9 5.6
Car Production (Units) 219569.00 157000 170000 181000 183000 195000
Car Registrations 225706.00 165000 160000 160000 215000 219000
Steel Production (Thousand Tonnes) 9058.00 9100 9100 8700 8600 8740
Mining Production (%) 1.40 4.1 4.1 3.5 2 2.1
Composite PMI (points) 58.00 51 51.8 52.3 50 52.5
Cement Production (Thousands of Tonnes ) 26940.00 26000 27000 29000 30900 31791

Consumer Actual Q4 Q1 Q2 Q3 2021
Consumer Confidence (points) 63.70 81 95 93 96 89
Consumer Spending (INR Billion) 17962.90 23578 20951 21782 24439 25111
Disposable Personal Income (INR Million) 206752290.00 219932018 198482198 211921097 237765134 234227599
Bank Lending Rate (%) 8.80 8.75 8.75 8.75 8.75 8.75
Households Debt To GDP (% of GDP) 12.60 11.5 11.5 11.5 11.5 12
Gasoline Prices (USD/Liter) 1.09 0.94 0.91 0.87 0.82 0.89

Housing Actual Q4 Q1 Q2 Q3 2021
Housing Index (points) 109.00 115 118 118 117 119
Construction Output (%) -2.50 2 2 4.2 5.1 3


This page has economic forecasts for India including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the India economy.