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.


Overview Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 1.90 1.7 1.8 1.5 1.4 1.3 percent
Unemployment Rate 3.52 3.5 3.6 3.6 3.6 3.6 percent
Inflation Rate 3.31 3.7 4.5 5 5.1 4.8 percent
Interest Rate 6.50 7 7 7 7.25 6.75 percent
Balance of Trade -17130.00 -14900 -15269 -15759 -15191 -14100 USD Million
Government Debt to GDP 68.70 69.2 69 69 69 70 percent
MARKETS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Currency 71.98
 73.23 73.53 73.85 74.15 75.41
Stock Market 35457.16
points		 35941 35632 35324 35020 33829
Government Bond 10Y 7.82
percent		 8.06 8.14 8.22 8.3 8.62
GDP Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 1.90
percent		 1.7 1.8 1.5 1.4 1.3
GDP Annual Growth Rate 8.20
percent		 7.6 7.5 7.4 7.3 6.4
GDP 2597.49
USD Billion		 2700 2900 2900 2900 3100
GDP Constant Prices 33739.83
INR Billion		 34900 37376 36237 36203 39881
Gross National Product 12865461.00
INR Tens Of Million		 13843236 13830371 13817505 13804640 15819164
Gross Fixed Capital Formation 10652.17
INR Billion		 11018 12024 11440 11430 12591
GDP per capita 1963.55
USD		 2500 3100 3100 3100 3500
GDP per capita PPP 6426.67
USD		 6900 7100 7100 7100 7200
GDP From Agriculture 4197.47
INR Billion		 6097 5116 4508 4504 6968
GDP From Construction 2491.03
INR Billion		 2554 2595 2675 2673 2919
GDP From Manufacturing 5690.94
INR Billion		 5668 6388 6112 6106 6477
GDP From Mining 1009.54
INR Billion		 960 1238 1084 1083 1098
GDP From Public Administration 3922.11
INR Billion		 4317 4469 4212 4208 4933
GDP From Utilities 713.83
INR Billion		 690 700 767 766 789
LABOUR Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 3.52
percent		 3.5 3.6 3.6 3.6 3.6
Employed Persons 29650.00
Thousand 		30126 30155 30183 30212 32200
Unemployed Persons 44.85
Million		 43.15 42.95 42.75 42.54 44.2
Labor Force Participation Rate 52.50
percent		 53.54 51.46 51.79 52.13 55.32
Population 1283.60
Million		 1320 1300 1303 1306 1340
Retirement Age Women 60.00
 60 60 60 60 60
Retirement Age Men 60.00
 60 60 60 60 60
Living Wage Family 19400.00
INR/Month		 18500 19800 17400 17400 19800
Living Wage Individual 10300.00
INR/Month		 14000 10986 10984 10982 18000
Wages 272.19
INR/Day		 362 386 386 386 400
Wages High Skilled 43200.00
INR/Month		 65500 45500 45489 45396 46500
Wages In Manufacturing 347.30
INR/Day		 450 470 470 470 500
Wages Low Skilled 10900.00
INR/Month		 16000 17000 11833 11849 18000
Youth Unemployment Rate 12.90
percent		 15.2 15.5 15.5 15.5 13.5
PRICES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Inflation Rate 3.31
percent		 3.7 4.5 5 5.1 4.8
Consumer Price Index CPI 140.60
Index Points		 142 143 145 147 156
GDP Deflator 128.80
Index Points		 130 122 123 123 145
Producer Prices 121.70
Index Points		 121 122 125 126 135
Producer Prices Change 5.28
percent		 5 4.9 5.2 4.3 5.9
Export Prices 376.00
Index Points		 393 403 408 413 429
Import Prices 513.00
Index Points		 520 523 529 536 510
Food Inflation -0.86
percent		 3.2 3.9 4.3 2.9 4.7
Inflation Rate Mom 0.29
percent		 0.2 0.39 0.36 0.35 0.32
Cpi Housing Utilities 146.30
Index Points		 144 148 150 153 159
CPI Transportation 126.90
Index Points		 123 126 130 132 135
MONEY Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Interest Rate 6.50
percent		 7 7 7 7.25 6.75
Cash Reserve Ratio 4.00
percent		 4 4 4 4 4
Interbank Rate 6.94
percent		 7.19 7.19 7.19 7.44 6.94
Money Supply M1 32917.10
INR Billion		 32669 32550 32625 32582 32598
Money Supply M2 33429.66
INR Billion		 33545 33392 33422 33418 33419
Money Supply M3 144412.92
INR Billion		 146080 148949 151744 154537 179446
Central Bank Balance Sheet 17751.16
INR Billions		 17573 17355 17466 17420 17426
Foreign Exchange Reserves 393010.00
USD Million		 389593 386197 384427 383504 382500
Loan Growth 14.60
percent		 12.5 15.05 15.06 15.07 12
Reverse Repo Rate 6.25
percent		 6.5 6.5 6.5 6.5 5.5
TRADE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Balance of Trade -17130.00
USD Million		 -14900 -15269 -15759 -15191 -14100
Exports 26980.00
USD Million		 29500 27962 27453 28019 28900
Imports 44110.00
USD Million		 44400 43232 43212 43209 43000
Current Account -15807.13
USD Million		 -18000 -13000 -15000 -12000 -14600
Current Account to GDP -1.90
percent		 -2.6 -2.2 -2.2 -2.2 -1.8
External Debt 514395.00
USD Million		 519000 524000 528000 532000 561000
Terms of Trade 73.30
Index Points		 77.51 78.02 78.09 78.16 66
Capital Flows 17.43
USD Million		 20.8 8.1 8.64 4.43 7.93
Foreign Direct Investment 1898.00
USD Million		 2616 2695 2684 2687 2686
Remittances 12638.86
USD Million		 12462 12536 12576 12539 12546
Tourist Arrivals 719121.00
 825100 841500 812300 810900 762000
Gold Reserves 573.10
Tonnes		 573 573 573 573 573
Crude Oil Production 697.00
BBL/D/1K		 702 702 702 702 702
Terrorism Index 7.53
 7.53 7.53 7.53 7.53 7.53
Weapons Sales 56.00
USD Million		 46.27 45.53 44.8 44.06 35.62
GOVERNMENT Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Government Debt to GDP 68.70
percent		 69.2 69 69 69 70
Government Budget -3.53
percent of GDP		 -3.4 -3.4 -3.4 -3.4 -3
Government Budget Value -5947.32
INR Billion		 -6263 -4878 -4569 -4921 -6208
Government Spending 3972.15
INR Billion		 3499 3559 4266 4262 3998
Government Revenues 7094.83
INR Billion		 11200 15500 2350 6569 12500
Fiscal Expenditure 13042.15
INR Billion		 17463 20378 6919 11490 18708
Military Expenditure 59757.10
USD Million		 61245 61390 61535 61680 65107
Government Spending To GDP 12.74
percent of GDP		 12.74 12.74 12.74 12.74 12.74
BUSINESS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Business Confidence 64.90
Index Points		 57 63.85 56.5 56 59
Manufacturing PMI 53.10
 52.1 51.9 51.8 52 52.8
Services PMI 52.20
Index Points		 52.1 50.4 51.5 51.95 51.9
Industrial Production 4.50
percent		 4.1 4.8 4.5 5.4 6.5
Industrial Production Mom 0.60
percent		 0.19 0.38 0.54 0.6 0.87
Manufacturing Production 4.60
percent		 4.1 6.2 4.8 4 5.6
Changes in Inventories 237.18
INR Billion		 284 301 318 330 366
Car Production 249913.00
Units		 218189 262936 230628 255336 238720
Car Registrations 242233.00
 249074 254891 252599 253467 253233
Internet Speed 6492.06
KBps		 11681 12339 12979 13600 18445
IP Addresses 9378846.00
IP		 9485862 9489341 9489453 9489262 9490569
Mining Production 0.20
percent		 2.8 2.3 1.7 1.91 2.1
Steel Production 8520.00
Thousand Tonnes		 8725 8705 8663 8672 8678
Cement Production 25625.00
Thousands of Tonnes 		27460 29690 26097 25656 29791
Competitiveness Index 62.02
Points		 62.52 62.52 62.52 62.52 65.02
Competitiveness Rank 58.00
 58 58 58 58 58
Composite Pmi 53.00
 53 52 52.4 53 52.5
Corruption Index 40.00
Points		 40 40 40 40 40
Corruption Rank 81.00
 81 81 81 81 81
Ease of Doing Business 77.00
 128 116 77 116 116
CONSUMER Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Consumer Confidence 95.00
Index Points		 101 100 96 98 97
Consumer Spending 18526.63
INR Billion		 20649 20413 19898 19879 23596
Disposable Personal Income 169623970.00
INR Million		 183284086 186581355 189878625 193175894 231000000
Personal Savings 26099.21
INR Billion		 27600 28034 28468 28902 32403
Bank Lending Rate 9.45
percent		 9.7 9.7 9.7 9.95 9.45
Households Debt To GDP 11.40
percent of GDP		 11.82 11.95 12.08 12.2 13.09
Gasoline Prices 1.08
USD/Liter		 1.06 1.05 1.03 1.01 0.93
HOUSING Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Housing Index 148.00
Index Points		 154 152 154 155 175
Construction Output 4.30
percent		 4.5 5.14 4.4 5.15 3
TAXES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Corporate Tax Rate 34.61
percent		 34.61 34.61 34.61 34.61 34.61
Personal Income Tax Rate 35.88
percent		 35.88 35.88 35.88 35.88 35.88
Sales Tax Rate 18.00
percent		 18 18 18 18 18
Social Security Rate 24.00
percent		 24 24 24 24 24
Social Security Rate For Companies 12.00
percent		 12 12 12 12 12
Social Security Rate For Employees 12.00
percent		 12 12 12 12 12
CLIMATE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Temperature 18.62
celsius		 20.64 20.01 24.36 24.51 24.46
Precipitation 6.30
mm		 35.48 14.75 85.6 85.94 89.85



India - Economic Forecasts - 2018-2020 Outlook