Markets Actual Q1/23 Q2/23 Q3/23 Q4/23
Currency 81.51 81.7 82.43 83.16 83.9
Stock Market (points) 59330.90 58882 57191 55548 53953
Government Bond 10Y (%) 7.39 7.41 7.48 7.54 7.61

Overview Actual Q1/23 Q2/23 Q3/23 Q4/23
GDP Growth Rate (%) 0.80 0.9 0.7 0.8 1.1
GDP Annual Growth Rate (%) 6.30 4.1 4 3.9 3.5
Unemployment Rate (%) 8.30 8.3 8 7.9 7.5
Inflation Rate (%) 5.72 5.3 4.9 4.8 4.9
Interest Rate (%) 6.25 6.5 6.5 6.5 6.25
Cash Reserve Ratio (%) 4.50 4.5 4.5 4.5 4.5
Balance of Trade (USD Billion) -23.76 -35 -33 -29 -17
Current Account (USD Million) -36400.00 -12000 -2000 -5000 1200
Current Account to GDP (% of GDP) -1.20 -2.5
Government Budget (% of GDP) -6.90 -6.4
Business Confidence (points) 134.40 130 135 128 125
Manufacturing PMI (points) 57.80 54.5 54 52 52.5
Services PMI (points) 58.50 56.2 53.8 54 51.2
Consumer Confidence (points) 83.50 88 85 87 90
Corporate Tax Rate (%) 34.94 34.94
Personal Income Tax Rate (%) 42.74 42.74
Government Debt to GDP (% of GDP) 89.26 88

GDP Actual Q1/23 Q2/23 Q3/23 Q4/23
GDP Growth Rate (%) 0.80 0.9 0.7 0.8 1.1
GDP Annual Growth Rate (%) 6.30 4.1 4 3.9 3.5
GDP Constant Prices (INR Billion) 38165.78 42452 38325 39654 39502
Gross National Product (INR Tens Of Million) 14536732.00 15045518
Gross Fixed Capital Formation (INR Billion) 13216.67 14273 13289 13732 13679
GDP per Capita PPP (USD) 6592.04 7400
Full Year GDP Growth (%) 7.00 6
GDP from Agriculture (INR Billion) 4243.86 5922 5131 4409 4392
GDP from Construction (INR Billion) 2590.98 3522 2734 2692 2682
GDP from Manufacturing (INR Billion) 5980.11 7041 6293 6213 6189
GDP from Mining (INR Billion) 666.96 1031 888 693 690
GDP from Public Administration (INR Billion) 4979.46 5142 4850 5174 5154
GDP from Utilities (INR Billion) 859.71 819 922 893 890
GDP (USD Billion) 3176.30 3000
GDP per Capita (USD) 1936.94 1950

Labour Actual Q1/23 Q2/23 Q3/23 Q4/23
Unemployment Rate (%) 8.30 8.3 8 7.9 7.5
Labor Force Participation Rate (%) 47.50 48.3 48.1 48.3 48.9
Retirement Age Women (Years) 60.00 60
Retirement Age Men (Years) 60.00 60
Minimum Wages ( INR/Day) 178.00 185
Population (Million) 1380.00 1435

Prices Actual Q1/23 Q2/23 Q3/23 Q4/23
Inflation Rate (%) 5.72 5.3 4.9 4.8 4.9
Consumer Price Index CPI (points) 175.70 177 181 184 184
GDP Deflator (points) 160.10 168
Producer Prices (points) 150.40 155 160 158 157
Producer Prices Change (%) 4.95 4.1 4 3.9 4.2
Export Prices (points) 143.80 148
Food Inflation (%) 4.19 3.9 3.3 3.2 4.3
Inflation Expectations (%) 10.80 8 7.8
Inflation Rate MoM (%) -0.45 0.2 0.5 0.4 0.6
CPI Housing Utilities (points) 170.70 174 175 178 179
CPI Transportation (points) 163.30 164 164 165 166
Import Prices (points) 133.70 142

Money Actual Q1/23 Q2/23 Q3/23 Q4/23
Interest Rate (%) 6.25 6.5 6.5 6.5 6.25
Cash Reserve Ratio (%) 4.50 4.5 4.5 4.5 4.5
Interbank Rate (%) 6.96 7.21 7.21 7.21 6.96
Money Supply M1 (INR Billion) 53563.88 53000 54000 54300 52000
Money Supply M2 (INR Billion) 55710.46 56000 57000 55000 58000
Money Supply M3 (INR Billion) 218426.76 220000 221000 224000 225000
Foreign Exchange Reserves (USD Million) 573730.00 580000 570000 560000 580000
Central Bank Balance Sheet (INR Billion) 29456.00 30000 32000 33000 35000
Loan Growth (%) 16.50 10.8 10 9.4

Trade Actual Q1/23 Q2/23 Q3/23 Q4/23
Balance of Trade (USD Billion) -23.76 -35 -33 -29 -17
Current Account (USD Million) -36400.00 -12000 -2000 -5000 1200
Current Account to GDP (% of GDP) -1.20 -2.5
Imports (USD Billion) 58.24 70 71 68 57
Exports (USD Billion) 34.48 35 38 39 40
External Debt (USD Million) 610500.00 602000 615000 620000 625000
Capital Flows (USD Million) -88.21 -20 -50 15 50
Foreign Direct Investment (USD Million) -2428.00 3000 2000 3100 4200
Tourist Arrivals 768675.00 825000 840000 8840000 900000
Gold Reserves (Tonnes) 785.35 790 790 780 770
Terms of Trade (points) 130.60 104

Government Actual Q1/23 Q2/23 Q3/23 Q4/23
Government Budget (% of GDP) -6.90 -6.4
Government Budget Value (INR Tens of Millions) -978150.00 -3099000 -1584000 -1070000 -760000
Government Spending (INR Billion) 3358.44 4813 4308 3489 3476
Government Revenues (INR Tens of Millions) 1464633.00 201000 616000 1230000 1690000
Fiscal Expenditure (INR Tens of Millions) 2442787.00 3300000 2200000 2300000 2450000
Government Debt to GDP (% of GDP) 89.26 88
Government Spending to GDP (% of GDP) 15.93 14

Taxes Actual Q1/23 Q2/23 Q3/23 Q4/23
Corporate Tax Rate (%) 34.94 34.94
Personal Income Tax Rate (%) 42.74 42.74
Social Security Rate (%) 24.00 24
Social Security Rate For Companies (%) 12.00 12
Social Security Rate For Employees (%) 12.00 12
Sales Tax Rate (%) 18.00 18

Business Actual Q1/23 Q2/23 Q3/23 Q4/23
Business Confidence (points) 134.40 130 135 128 125
Manufacturing PMI (points) 57.80 54.5 54 52 52.5
Services PMI (points) 58.50 56.2 53.8 54 51.2
Industrial Production (%) 7.10 2 4 1.2 4.8
Manufacturing Production (%) 6.10 3 2 1.3 5.2
Car Production (Units) 151593.00 200000 200000 210000 210000
Car Registrations (Units) 159190.00 140000 150000 160000 180000
Mining Production (%) 2.50 2 3 0.5 4
Composite PMI (points) 59.40 52 51.5 54 51

Consumer Actual Q1/23 Q2/23 Q3/23 Q4/23
Consumer Confidence (points) 83.50 88 85 87 90
Consumer Spending (INR Billion) 22295.72 23552 22963 23165 23076
Disposable Personal Income (INR Million) 238573760.00 246923842
Bank Lending Rate (%) 9.40 9.65 9.65 9.65 9.4
Gasoline Prices (USD/Liter) 1.17 1.24 1.28 1.33 1.38

Housing Actual Q1/23 Q2/23 Q3/23 Q4/23
Housing Index (points) 110.00 110 115 115 116
Construction Output (%) 5.40 4.2 2.9 3.1 3.5