Markets Actual Q4 Q1 Q2 Q3 2022
Currency 75.01 75.4 75.7 75.99 76.29 76.89
Stock Market (points) 61305.95 58486 56954 55459 54005 51213
Government Bond 10Y (%) 6.33 6.36 6.39 6.43 6.47 6.54

Overview Actual Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 2.10 2.2 1.3 1.6 1.5 1
GDP Annual Growth Rate (%) 20.10 6.2 6.6 7.3 7.1 7
Unemployment Rate (%) 6.90 6.8 6.4 6.3 6 6.2
Inflation Rate (%) 4.35 5.6 5.9 5.2 5.5 5.1
Interest Rate (%) 4.00 4 4.25 4.5 4.5 4.75
Cash Reserve Ratio (%) 4.00 4 4 4 4 4
Balance of Trade (USD Million) -22590.00 -12300 -9000 -9600 -6800 -7200
Current Account (USD Million) 6500.00 -2600 -4400 -5700 -6800 -8400
Current Account to GDP (% of GDP) 0.90 -1.5 -2.6 -2.6 -2.6 -2.6
Government Debt to GDP (% of GDP) 69.62 85 84 84 84 84
Government Budget (% of GDP) -9.40 -6.8 -4 -4 -4 -4
Business Confidence (points) 124.10 129 117 115 110 102
Manufacturing PMI (points) 53.70 54 52.3 54 53 51
Services PMI (points) 55.20 52.6 52 53 51 50.8
Consumer Confidence (points) 48.60 59 61 70 77 85
Corporate Tax Rate (%) 25.17 25.17 25.17 25.17 25.17 25.17
Personal Income Tax Rate (%) 42.74 35.88 35.88 35.88 35.88 35.88

GDP Actual Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 2.10 2.2 1.3 1.6 1.5 1
GDP Annual Growth Rate (%) 20.10 6.2 6.6 7.3 7.1 7
GDP (USD Billion) 2622.98 2850 3000 3000 3000 3000
GDP Constant Prices (INR Billion) 32380.20 42519 38490 41535 34744 41184
Gross National Product (INR Tens Of Million) 13280223.00 16951971 14103597 14156718 14249679 15090849
Gross Fixed Capital Formation (INR Billion) 10223.35 14061 12683 14265 10970 13571
GDP per capita (USD) 1961.30 2100 2320 2320 2320 2320
GDP per capita PPP (USD) 6118.36 7500 7500 7500 7500 8000
GDP From Agriculture (INR Billion) 4862.92 7121 6799 5804 5218 7275
GDP From Construction (INR Billion) 2212.56 3346 2906 3385 2374 3110
GDP From Manufacturing (INR Billion) 5438.21 6864 5903 6732 5835 6317
GDP From Mining (INR Billion) 814.44 1058 786 973 874 841
GDP From Public Administration (INR Billion) 3792.05 5241 4745 5010 4069 5077
GDP From Utilities (INR Billion) 820.42 860 803 848 880 860

Labour Actual Q4 Q1 Q2 Q3 2022
Unemployment Rate (%) 6.90 6.8 6.4 6.3 6 6.2
Labor Force Participation Rate (%) 47.30 48.5 48.5 49.5 50 50.3
Population (Million) 1347.12 1361 1373 1373 1373 1373
Retirement Age Women 60.00 60 60 60 60 60
Retirement Age Men 60.00 60 60 60 60 60
Minimum Wages ( INR/Day) 178.00 178 190 190 190 190
Youth Unemployment Rate (%) 27.70 26 26 26 26 26

Prices Actual Q4 Q1 Q2 Q3 2022
Inflation Rate (%) 4.35 5.6 5.9 5.2 5.5 5.1
Consumer Price Index CPI (points) 163.20 166 166 170 172 175
GDP Deflator (points) 146.10 147 147 146 146 154
Producer Prices (points) 136.00 140 139 142 143 147
Producer Prices Change (%) 10.66 12 7 5.9 5.2 4.5
Export Prices (points) 140.30 400 408 408 408 408
Import Prices (points) 105.50 515 570 570 570 570
Food Inflation (%) 0.68 4.7 5.1 4.9 5.1 5.5
Inflation Expectations (%) 11.50 12.1 11.2 9.5 9 8.7
Inflation Rate Mom (%) 0.18 0.2 0.5 0.7 0.3 0.7
Cpi Housing Utilities (points) 162.10 167 169 169 171 175
CPI Transportation (points) 154.00 154 155 156 157 158

Money Actual Q4 Q1 Q2 Q3 2022
Interest Rate (%) 4.00 4 4.25 4.5 4.5 4.75
Cash Reserve Ratio (%) 4.00 4 4 4 4 4
Interbank Rate (%) 3.48 3.48 3.73 3.98 3.98 4.23
Money Supply M1 (INR Billion) 48565.11 45000 44000 42000 42000 41000
Money Supply M2 (INR Billion) 49481.73 49000 47000 46000 46000 42000
Money Supply M3 (INR Billion) 193995.96 193000 190000 176000 176000 175000
Central Bank Balance Sheet (INR Billion) 33300.55 31790 30300 25800 25700 24200
Foreign Exchange Reserves (USD Million) 639516.00 632000 622000 625000 625000 620000
Loan Growth (%) 6.70 6.2 5.8 5.9 6 6.4
Reverse Repo Rate (%) 3.35 3.35 3.35 3.35 3.35 3.35

Trade Actual Q4 Q1 Q2 Q3 2022
Balance of Trade (USD Million) -22590.00 -12300 -9000 -9600 -6800 -7200
Current Account (USD Million) 6500.00 -2600 -4400 -5700 -6800 -8400
Current Account to GDP (% of GDP) 0.90 -1.5 -2.6 -2.6 -2.6 -2.6
Imports (USD Million) 56390.00 44200 39100 41000 39000 40100
Exports (USD Million) 33790.00 31900 30100 31400 32200 32900
External Debt (USD Million) 570000.00 572000 572000 576000 580000 585000
Terms of Trade (points) 107.20 77.67 71.58 71.58 71.58 71.58
Foreign Direct Investment (USD Million) 2235.00 2600 2400 2400 2400 3600
Capital Flows (USD Million) -61.71 -75 27 85 90 110
Remittances (USD Million) 14354.76 13800 13800 13800 13800 13800
Tourist Arrivals 0.00 0 0 450000 450000 510000
Gold Reserves (Tonnes) 703.71 650 650 650 650 650

Government Actual Q4 Q1 Q2 Q3 2022
Government Debt to GDP (% of GDP) 69.62 85 84 84 84 84
Government Budget (% of GDP) -9.40 -6.8 -4 -4 -4 -4
Government Budget Value (INR Tens of Millions) -468009.00 -6208 -990000 -1930000 -694800 -1250000
Government Spending (INR Billion) 4214.71 4143 3776 4861 4522 4040
Government Revenues (INR Tens of Millions) 808672.00 1200000 1720000 170200 170200 1150000
Fiscal Expenditure (INR Tens of Millions) 1276681.00 2190000 3650000 865000 865000 2400000
Government Spending To GDP (% of GDP) 17.60 15.6 14 14 14 14

Taxes Actual Q4 Q1 Q2 Q3 2022
Corporate Tax Rate (%) 25.17 25.17 25.17 25.17 25.17 25.17
Personal Income Tax Rate (%) 42.74 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 2022
Business Confidence (points) 124.10 129 117 115 110 102
Manufacturing PMI (points) 53.70 54 52.3 54 53 51
Services PMI (points) 55.20 52.6 52 53 51 50.8
Industrial Production (%) 11.90 6.5 3 3.3 3.1 3.2
Industrial Production Mom (%) -0.23 1 0.3 0.1 0.3 0.8
Manufacturing Production (%) 9.70 4.9 3.8 5.8 5.8 5.6
Car Production (Units) 136783.00 195000 190000 179000 181000 195000
Car Registrations 108003.00 219000 217000 194000 194000 220000
Steel Production (Thousand Tonnes) 9900.00 9740 9140 8900 8500 8650
Mining Production (%) 23.60 10 3 -1.5 -1 2.4
Composite PMI (points) 55.30 53 52 52 52 51.1
Cement Production (Thousands of Tonnes ) 24222.00 31791 31791 31791 31791 32791

Consumer Actual Q4 Q1 Q2 Q3 2022
Consumer Confidence (points) 48.60 59 61 70 77 85
Consumer Spending (INR Billion) 17836.11 25111 22431 23030 19138 24002
Disposable Personal Income (INR Million) 199689740.00 234227599 212070504 212869263 214267091 226915439
Bank Lending Rate (%) 8.80 8.8 9.05 9.3 9.3 9.55
Households Debt To GDP (% of GDP) 38.40 39 39.4 40 40.2 41
Gasoline Prices (USD/Liter) 1.36 1.29 1.23 1.17 1.11 1.05

Housing Actual Q4 Q1 Q2 Q3 2022
Housing Index (points) 105.00 109 112 114 116 120
Construction Output (%) 11.60 5.1 2.5 2.5 2.9 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.