Markets Actual Q1 Q2 Q3 Q4 2022
Currency 72.44 72.8 73.13 73.47 73.8 74.47
Stock Market (points) 51179.18 49870 48711 47583 46480 44274
Government Bond 10Y (%) 6.15 6.22 6.28 6.34 6.39 6.51

Overview Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) 21.90 1.9 2.3 1.4 2.2 1
GDP Annual Growth Rate (%) -7.50 2.5 15 8.5 5.5 7
Unemployment Rate (%) 6.50 6.6 6.9 6.5 6.3 6.2
Inflation Rate (%) 4.06 4.5 5 5.5 4.4 4.1
Interest Rate (%) 4.00 4 3.75 3.5 3.5 3.5
Cash Reserve Ratio (%) 3.00 3 3 3 3 3
Balance of Trade (USD Million) -14540.00 -9200 -11100 -11750 -14100 -7200
Current Account (USD Million) 15530.87 -10000 -17000 -15000 -12600 -14400
Current Account to GDP (%) -0.90 -1.5 -1.5 -1.5 -1.5 -2.6
Government Debt to GDP (%) 69.62 85 85 85 85 84
Government Budget (% of GDP) -9.50 -7.4 -7.4 -7.4 -7.4 -6.7
Business Confidence (points) 111.40 115 116 118 99 102
Manufacturing PMI (points) 57.70 53.4 52 51 51 51
Services PMI (points) 52.80 53.2 52 51 52.6 50.8
Consumer Confidence (points) 50.00 95 93 96 89 85
Corporate Tax Rate (%) 25.17 25.17 25.17 25.17 35 25.17
Personal Income Tax Rate (%) 35.88 35.88 35.88 35.88 35.88 35.88

GDP Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) 21.90 1.9 2.3 1.4 2.2 1
GDP Annual Growth Rate (%) -7.50 2.5 15 8.5 5.5 7
GDP (USD Billion) 2868.93 2850 2850 2850 2850 3000
GDP Constant Prices (INR Billion) 33141.67 38987 30930 35959 34964 37412
Gross National Product (INR Tens Of Million) 14522931.00 14886004 16701371 15757380 15321692 16394211
Gross Fixed Capital Formation (INR Billion) 9596.28 11217 6891 10412 10124 10833
GDP per capita (USD) 2169.10 2100 2100 2100 2100 2320
GDP per capita PPP (USD) 6754.30 7500 7500 7500 7500 8000
GDP From Agriculture (INR Billion) 3802.39 5439 5229 4126 4012 4292
GDP From Construction (INR Billion) 2231.21 2737 1504 2421 2354 2519
GDP From Manufacturing (INR Billion) 5796.83 6209 4041 6290 6116 6544
GDP From Mining (INR Billion) 626.74 1120 819 680 661 708
GDP From Public Administration (INR Billion) 4083.26 4937 4309 4430 4308 4609
GDP From Utilities (INR Billion) 830.51 767 873 901 876 938

Labour Actual Q1 Q2 Q3 Q4 2022
Unemployment Rate (%) 6.50 6.6 6.9 6.5 6.3 6.2
Labor Force Participation Rate (%) 49.80 51.5 52 52 52.5 52.5
Population (Million) 1312.24 1340 1340 1340 1340 1353
Retirement Age Women 60.00 60 60 60 60 60
Retirement Age Men 60.00 60 60 60 60 60
Minimum Wages ( INR/Day) 178.00 178 178 178 178 190
Youth Unemployment Rate (%) 23.70 26 26 26 26 26

Prices Actual Q1 Q2 Q3 Q4 2022
Inflation Rate (%) 4.06 4.5 5 5.5 4.4 4.1
Consumer Price Index CPI (points) 156.30 155 159 165 164 171
GDP Deflator (points) 138.80 141 142 142 145 151
Producer Prices (points) 125.90 124 122 127 130 136
Producer Prices Change (%) 2.03 2.7 2.5 3.4 4.5 4.5
Export Prices (points) 402.00 400 400 400 400 400
Import Prices (points) 569.00 515 515 515 515 518
Food Inflation (%) 1.89 7 6 6.1 5.3 5.3
Inflation Expectations (%) 10.20 10.3 9.5 9.6 9.1 8.7
Inflation Rate Mom (%) -0.63 0.8 1.2 0.6 0.9 0.7
Cpi Housing Utilities (points) 158.90 162 162 165 165 171
CPI Transportation (points) 143.10 136 142 148 148 154

Money Actual Q1 Q2 Q3 Q4 2022
Interest Rate (%) 4.00 4 3.75 3.5 3.5 3.5
Cash Reserve Ratio (%) 3.00 3 3 3 3 3
Interbank Rate (%) 3.18 2.93 2.93 2.68 6.81 2.43
Money Supply M1 (INR Billion) 43483.75 42582 42601 39601 39598 40598
Money Supply M2 (INR Billion) 46127.69 44418 46419 45419 41419 40419
Money Supply M3 (INR Billion) 183003.52 184585 177379 177379 176503 176503
Central Bank Balance Sheet (INR Billion) 29370.49 29100 28300 27500 27900 24200
Foreign Exchange Reserves (USD Million) 583700.00 570000 550000 543000 522000 512000
Loan Growth (%) 5.90 5.9 6.1 6.3 6.2 6.4
Reverse Repo Rate (%) 3.35 3.1 3.1 3.1 3.1 3.35

Trade Actual Q1 Q2 Q3 Q4 2022
Balance of Trade (USD Million) -14540.00 -9200 -11100 -11750 -14100 -7200
Current Account (USD Million) 15530.87 -10000 -17000 -15000 -12600 -14400
Current Account to GDP (%) -0.90 -1.5 -1.5 -1.5 -1.5 -2.6
Imports (USD Million) 41990.00 35800 38500 39850 37200 40100
Exports (USD Million) 27450.00 26600 27400 28100 29900 32900
Terms of Trade (points) 73.70 78.04 75.49 77.67 84.21 84.21
Foreign Direct Investment (USD Million) 5746.00 3200 2800 1700 2600 2600
Capital Flows (USD Million) -87.28 29 100 -75 -75 7.98
Remittances (USD Million) 13951.00 14900 14800 14000 13800 13800
Tourist Arrivals 328462.00 310000 390000 395000 400000 510000
Gold Reserves (Tonnes) 676.61 672 662 650 650 650

Government Actual Q1 Q2 Q3 Q4 2022
Government Debt to GDP (%) 69.62 85 85 85 85 84
Government Budget (% of GDP) -9.50 -7.4 -7.4 -7.4 -7.4 -6.7
Government Budget Value (INR Billion) -11584.69 -11220 -6208 -7600 -6208 -6208
Government Spending (INR Billion) 3623.68 3903 5596 3932 3823 4091
Government Revenues (INR Billion) 11216.78 9500 10200 10700 11500 12300
Fiscal Expenditure (INR Billion) 22801.47 17100 17700 18000 19500 19500
Government Spending To GDP (% of GDP) 13.21 14 14 14 14 14.2

Taxes Actual Q1 Q2 Q3 Q4 2022
Corporate Tax Rate (%) 25.17 25.17 25.17 25.17 35 25.17
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 Q1 Q2 Q3 Q4 2022
Business Confidence (points) 111.40 115 116 118 99 102
Manufacturing PMI (points) 57.70 53.4 52 51 51 51
Services PMI (points) 52.80 53.2 52 51 52.6 50.8
Industrial Production (%) 1.00 5.4 3.9 6.7 4.5 4.5
Industrial Production Mom (%) 7.80 0.9 1.4 0.8 1 0.8
Manufacturing Production (%) 1.60 7 4.2 3.9 3.9 5.6
Car Production (Units) 185416.00 210000 221000 233000 195000 195000
Car Registrations 190183.00 190000 180000 215000 219000 220000
Steel Production (Thousand Tonnes) 9796.00 9100 8700 8600 8740 8650
Mining Production (%) -4.80 4.1 3.5 2 2 2.4
Composite PMI (points) 55.80 51.8 52.3 50 50 52.5
Cement Production (Thousands of Tonnes ) 27492.00 27000 29000 30900 31791 32791

Consumer Actual Q1 Q2 Q3 Q4 2022
Consumer Confidence (points) 50.00 95 93 96 89 85
Consumer Spending (INR Billion) 17962.90 21782 16803 19490 18951 20277
Disposable Personal Income (INR Million) 206752290.00 211921097 237765134 224326235 218123666 233392323
Bank Lending Rate (%) 8.80 8.8 8.8 8.55 9.95 8.3
Households Debt To GDP (% of GDP) 13.00 11.5 11.5 11.5 12 12
Gasoline Prices (USD/Liter) 1.16 1.1 1.05 0.99 0.95 0.9

Housing Actual Q1 Q2 Q3 Q4 2022
Housing Index (points) 107.00 118 118 117 119 120
Construction Output (%) -1.30 -1.2 4.2 5.1 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.