Markets Actual Q3 Q4 Q1 Q2 2022
Currency 73.47 73.8 74.09 74.38 74.67 75.25
Stock Market (points) 59251.22 56681 55131 53628 52165 49354
Government Bond 10Y (%) 6.18 6.22 6.25 6.29 6.33 6.4
2 Year Note Yield (%) 4.53 4.96 5.07 5.19 5.31 5.55
3 Month Bill Yield (%) 3.31 3.35 3.39 3.43 3.48 3.56
3 Year Note Yield (%) 4.87 4.93 5.02 5.11 5.2 5.38
30 Year bond-Yield (%) 6.93 7.14 7.19 7.23 7.28 7.37
5 Year Note Yield (%) 5.62 5.67 5.72 5.78 5.84 5.96
52 Week Bill Yield (%) 3.90 3.98 4.09 4.2 4.31 4.54
6 Month Bill Yield (%) 3.39 3.45 3.48 3.52 3.56 3.63
7 Year Note Yield (%) 6.21 6.24 6.28 6.32 6.36 6.44

Overview Actual Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) 2.10 1.4 2.2 1.3 1.6 1
GDP Annual Growth Rate (%) 20.10 12 6.2 6.6 7.3 7
Unemployment Rate (%) 7.00 10.5 8.3 6.4 6.3 6.2
Inflation Rate (%) 5.30 5.4 4.7 5.3 4.8 4.2
Interest Rate (%) 4.00 4 4 4.25 4.5 4.75
Cash Reserve Ratio (%) 4.00 4 4 4 4 4
Balance of Trade (USD Million) -13810.00 -7160 -12300 -9000 -9600 -7200
Current Account (USD Million) -8134.78 -3500 -2600 -4400 -5700 -8400
Current Account to GDP (% of GDP) 0.90 -1.5 -1.5 -2.6 -2.6 -2.6
Government Debt to GDP (% of GDP) 69.62 85 85 84 84 84
Government Budget (% of GDP) -9.40 -6.8 -6.8 -4 -4 -4
Business Confidence (points) 114.10 118 109 107 105 102
Services PMI (points) 56.70 51 52.6 52 53 50.8
Manufacturing PMI (points) 52.30 55 57 52.3 54 51
Consumer Confidence (points) 49.00 54 59 61 70 85
Corporate Tax Rate (%) 25.17 25.17 35 35 35 25.17
Personal Income Tax Rate (%) 42.74 35.88 35.88 35.88 35.88 35.88

GDP Actual Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) 2.10 1.4 2.2 1.3 1.6 1
GDP Annual Growth Rate (%) 20.10 12 6.2 6.6 7.3 7
GDP (USD Billion) 2622.98 2850 2850 3000 3000 3000
GDP Constant Prices (INR Billion) 32380.20 36923 38490 41535 34744 41184
Gross National Product (INR Tens Of Million) 13280223.00 16265683 16951971 14156718 14249679 15090849
Gross Fixed Capital Formation (INR Billion) 10223.35 11531 14061 14265 10970 13571
GDP per capita (USD) 1961.30 2100 2100 2320 2320 2320
GDP per capita PPP (USD) 6118.36 7500 7500 7500 7500 8000
GDP From Agriculture (INR Billion) 4862.92 4369 7121 5804 5218 7275
GDP From Construction (INR Billion) 2212.56 2506 3346 3385 2374 3110
GDP From Manufacturing (INR Billion) 5438.21 6230 6864 6732 5835 6317
GDP From Mining (INR Billion) 814.44 680 1058 973 874 841
GDP From Public Administration (INR Billion) 3792.05 4510 5241 5010 4069 5077
GDP From Utilities (INR Billion) 820.42 888 860 848 880 860

Labour Actual Q3 Q4 Q1 Q2 2022
Unemployment Rate (%) 7.00 10.5 8.3 6.4 6.3 6.2
Labor Force Participation Rate (%) 47.30 52 52.5 52.5 52.5 52.5
Population (Million) 1347.12 1361 1361 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) 178.00 178 178 190 190 190
Youth Unemployment Rate (%) 27.70 26 26 26 26 26

Prices Actual Q3 Q4 Q1 Q2 2022
Inflation Rate (%) 5.30 5.4 4.7 5.3 4.8 4.2
Consumer Price Index CPI (points) 162.90 165 165 165 169 172
GDP Deflator (points) 146.10 142 145 146 145 152
Producer Prices (points) 135.90 135 140 135 139 147
Producer Prices Change (%) 11.39 10 12 4 3.9 4.5
Export Prices (points) 402.00 400 400 407 408 407
Import Prices (points) 569.00 515 515 570 570 570
Food Inflation (%) 3.11 4.1 5.3 5.1 4.9 5.3
Inflation Expectations (%) 10.90 9.6 8.1 9.2 8.5 8.7
Inflation Rate Mom (%) 0.25 0.6 0.9 0.5 0.7 0.7
Cpi Housing Utilities (points) 162.40 165 165 168 168 172
CPI Transportation (points) 153.90 148 149 154 158 155

Money Actual Q3 Q4 Q1 Q2 2022
Interest Rate (%) 4.00 4 4 4.25 4.5 4.75
Cash Reserve Ratio (%) 4.00 4 4 4 4 4
Interbank Rate (%) 3.29 3.29 3.29 3.54 3.79 3.79
Money Supply M1 (INR Billion) 48237.00 47600 45000 44000 42000 41000
Money Supply M2 (INR Billion) 49616.69 50000 49000 47000 46000 42000
Money Supply M3 (INR Billion) 194036.92 195000 193000 190000 176000 175000
Foreign Exchange Reserves (USD Million) 642453.00 640000 632000 622000 625000 620000
Central Bank Balance Sheet (INR Billion) 33423.25 32500 31790 30300 25800 24200
Loan Growth (%) 6.70 6.3 6.2 5.8 5.9 6.4
Reverse Repo Rate (%) 3.35 3.35 3.35 3.35 3.35 3.35

Trade Actual Q3 Q4 Q1 Q2 2022
Balance of Trade (USD Million) -13810.00 -7160 -12300 -9000 -9600 -7200
Current Account (USD Million) -8134.78 -3500 -2600 -4400 -5700 -8400
Current Account to GDP (% of GDP) 0.90 -1.5 -1.5 -2.6 -2.6 -2.6
Imports (USD Million) 47090.00 42740 44200 39100 41000 40100
Exports (USD Million) 33280.00 35580 31900 30100 31400 32900
External Debt (USD Million) 570000.00 578000 572000 576000 578000 585000
Terms of Trade (points) 73.70 77.67 84.21 77.67 71.4 71.4
Capital Flows (USD Million) -38.46 -75 -75 27 85 110
Foreign Direct Investment (USD Million) -513.00 2700 2600 2400 2400 3600
Remittances (USD Million) 14035.31 14000 13800 13800 13800 13800
Tourist Arrivals 0.00 0 0 400000 450000 510000
Gold Reserves (Tonnes) 703.71 690 650 650 650 650

Government Actual Q3 Q4 Q1 Q2 2022
Government Debt to GDP (% of GDP) 69.62 85 85 84 84 84
Government Budget (% of GDP) -9.40 -6.8 -6.8 -4 -4 -4
Government Budget Value (INR Tens of Millions) -321143.00 -860000 -6208 -1930000 -694800 -1250000
Government Spending (INR Billion) 4214.71 3725 4143 4861 4522 4040
Government Revenues (INR Tens of Millions) 683297.00 650000 1200000 1720000 170200 1150000
Fiscal Expenditure (INR Tens of Millions) 1004440.00 1510000 2190000 3650000 865000 2400000
Government Spending To GDP (% of GDP) 17.60 15.6 15.6 14 14 14

Taxes Actual Q3 Q4 Q1 Q2 2022
Corporate Tax Rate (%) 25.17 25.17 35 35 35 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 Q3 Q4 Q1 Q2 2022
Business Confidence (points) 114.10 118 109 107 105 102
Services PMI (points) 56.70 51 52.6 52 53 50.8
Manufacturing PMI (points) 52.30 55 57 52.3 54 51
Industrial Production (%) 11.50 6.7 4.5 4 4.1 4.2
Industrial Production Mom (%) 7.20 0.8 1 0.3 0.1 0.8
Manufacturing Production (%) 10.50 9 4.9 3.8 5.8 5.6
Car Production (Units) 185711.00 150000 195000 190000 179000 195000
Car Registrations 175321.00 165000 219000 217000 194000 220000
Mining Production (%) 19.50 2 2 1.5 1.5 2.4
Steel Production (Thousand Tonnes) 9800.00 8600 8740 8740 8740 8650
Cement Production (Thousands of Tonnes ) 24222.00 30900 31791 31791 31791 32791
Composite PMI (points) 55.40 51 53 52 52 51.1

Consumer Actual Q3 Q4 Q1 Q2 2022
Consumer Confidence (points) 49.00 54 59 61 70 85
Consumer Spending (INR Billion) 17836.11 20091 25111 23030 19138 24002
Disposable Personal Income (INR Million) 199689740.00 231562565 234227599 212869263 214267091 226915439
Bank Lending Rate (%) 8.80 8.8 8.8 9.05 9.3 9.3
Households Debt To GDP (% of GDP) 37.70 38.5 39 39.4 40 41
Gasoline Prices (USD/Liter) 1.39 1.32 1.25 1.19 1.13 1.08

Housing Actual Q3 Q4 Q1 Q2 2022
Housing Index (points) 105.00 117 119 118 118 120
Construction Output (%) 9.40 5.1 5.1 3.5 3.5 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.