Markets Actual Q2 Q3 Q4 Q1 2023
Currency 78.75 78.82 79.43 80.03 80.63 81.87
Stock Market (points) 52975.89 51204 49722 48288 46891 44218
Government Bond 10Y (%) 7.46 7.5 7.56 7.62 7.68 7.8

Overview Actual Q2 Q3 Q4 Q1 2023
GDP Growth Rate (%) 0.80 1.6 1.5 1 1.4 1
GDP Annual Growth Rate (%) 4.10 16.2 6.2 4.1 4 3.5
Unemployment Rate (%) 7.80 8 7.8 7.2 7.3 6.5
Inflation Rate (%) 7.04 6.9 5.8 5.4 5.1 4.6
Interest Rate (%) 4.90 4.9 5.4 5.75 6 6.25
Cash Reserve Ratio (%) 4.50 4.5 4.5 4.75 4.75 5
Balance of Trade (USD Billion) -24.29 -26 -20.8 -19.2 -16 -9.6
Current Account (USD Million) -13400.00 -17500 -16800 -8400 -5000 1200
Current Account to GDP (% of GDP) -1.70 -2.6 -2.6 -2.6 -2 -2.6
Government Debt to GDP (% of GDP) 73.95 84 84 84 84 84
Government Budget (% of GDP) -9.40 -6.9 -6.9 -6.9 -6.4 -6.4
Business Confidence (points) 134.70 125 110 102 120 102
Manufacturing PMI (points) 54.60 54 53 51 52 50.9
Services PMI (points) 58.90 56 54 50.8 52.2 51.2
Consumer Confidence (points) 76.00 75 68 75 78 90
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 Q2 Q3 Q4 Q1 2023
GDP Growth Rate (%) 0.80 1.6 1.5 1 1.4 1
GDP Annual Growth Rate (%) 4.10 16.2 6.2 4.1 4 3.5
GDP (USD Billion) 2622.98 3000 3000 3000 3000 3450
GDP Constant Prices (INR Billion) 40780.25 37724 38117 39786 42411 41178
Gross National Product (INR Tens Of Million) 14536732.00 15431619 14103597 15132738 15118201 15662384
Gross Fixed Capital Formation (INR Billion) 13710.90 12358 12716 11992 14259 12412
GDP per capita (USD) 1797.76 1850 1850 1850 1850 1920
GDP per capita PPP (USD) 6118.36 6700 6700 6700 7400 7400
Full Year GDP Growth (%) 8.70 8 8 8 6 6
GDP From Agriculture (INR Billion) 5688.80 5488 4310 6899 5916 7140
GDP From Construction (INR Billion) 3382.83 2616 2581 2780 3518 2878
GDP From Manufacturing (INR Billion) 6764.14 6708 6636 6166 7035 6381
GDP From Mining (INR Billion) 990.20 932 729 834 1030 863
GDP From Public Administration (INR Billion) 4939.11 4290 4965 5291 5137 5476
GDP From Utilities (INR Billion) 786.94 898 864 773 818 800

Labour Actual Q2 Q3 Q4 Q1 2023
Unemployment Rate (%) 7.80 8 7.8 7.2 7.3 6.5
Labor Force Participation Rate (%) 47.30 47.7 48.1 48.3 48.3 50.5
Population (Million) 1380.00 1373 1373 1373 1373 1386
Retirement Age Women 60.00 60 60 60 60 60
Retirement Age Men 60.00 60 60 60 60 60
Minimum Wages ( INR/Day) 178.00 178 178 178 185 190

Prices Actual Q2 Q3 Q4 Q1 2023
Inflation Rate (%) 7.04 6.9 5.8 5.4 5.1 4.6
Consumer Price Index CPI (points) 171.70 172 173 175 176 183
GDP Deflator (points) 160.10 149 148 154 154 167
Producer Prices (points) 154.00 156 157 162 166 173
Producer Prices Change (%) 15.88 16.9 14.2 13 11.8 7
Export Prices (points) 140.30 143 143 143 138 130
Import Prices (points) 105.50 107 107 107 107 110
Food Inflation (%) 7.84 7.5 6.1 5.5 5 5.5
Inflation Expectations (%) 11.10 11.5 10.4 8.7 8 8.7
Inflation Rate Mom (%) 0.94 0.9 0.3 0.5 0.2 0.6
CPI Housing Utilities (points) 167.60 172 172 172 174 180
CPI Transportation (points) 163.10 165 165 166 166 167

Money Actual Q2 Q3 Q4 Q1 2023
Interest Rate (%) 4.90 4.9 5.4 5.75 6 6.25
Cash Reserve Ratio (%) 4.50 4.5 4.5 4.75 4.75 5
Interbank Rate (%) 5.16 5.16 5.66 6.01 6.26 6.51
Money Supply M1 (INR Billion) 52861.84 52500 52000 51000 51000 41000
Money Supply M2 (INR Billion) 55050.03 56000 55000 54000 55000 49000
Money Supply M3 (INR Billion) 208193.87 210000 196000 195000 1800000 175000
Foreign Exchange Reserves (USD Million) 590590.00 595000 585000 590000 610000 610000
Central Bank Balance Sheet (INR Billion) 29639.26 29800 30700 29200 28000 26200
Loan Growth (%) 13.10 11.9 10 10.4 10.8 9.4
Reverse Repo Rate (%) 3.35 3.35 3.35 3.35 3.35 3.35

Trade Actual Q2 Q3 Q4 Q1 2023
Balance of Trade (USD Billion) -24.29 -26 -20.8 -19.2 -16 -9.6
Current Account (USD Million) -13400.00 -17500 -16800 -8400 -5000 1200
Current Account to GDP (% of GDP) -1.70 -2.6 -2.6 -2.6 -2 -2.6
Imports (USD Billion) 63.22 64 55 52.1 50 43.5
Exports (USD Billion) 38.94 38 34.2 32.9 34 33.9
External Debt (USD Million) 614919.00 625000 630000 631000 632000 635000
Terms of Trade (points) 107.20 134 134 134 129 118
Capital Flows (USD Million) 70.81 -85 -90 -110 -20 110
Foreign Direct Investment (USD Million) 5030.00 3400 2600 3600 3000 4200
Remittances (USD Million) 14602.17 14800 13800 13500 13500 13500
Tourist Arrivals 392930.00 450000 450000 510000 525000 600000
Gold Reserves (Tonnes) 760.40 750 740 740 730 700

Government Actual Q2 Q3 Q4 Q1 2023
Government Debt to GDP (% of GDP) 73.95 84 84 84 84 84
Government Budget (% of GDP) -9.40 -6.9 -6.9 -6.9 -6.4 -6.4
Government Budget Value (INR Tens of Millions) -748460.00 -224800 -449800 -595000 -1300000 -520000
Government Spending (INR Billion) 4623.16 4750 3729 3694 4808 3824
Government Revenues (INR Tens of Millions) 199983.00 600200 1100200 1805000 2000000 1930000
Fiscal Expenditure (INR Tens of Millions) 274829.00 825000 1550000 2400000 3300000 2450000
Government Spending To GDP (% of GDP) 17.60 14 14 14 14 12

Taxes Actual Q2 Q3 Q4 Q1 2023
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 Q2 Q3 Q4 Q1 2023
Business Confidence (points) 134.70 125 110 102 120 102
Manufacturing PMI (points) 54.60 54 53 51 52 50.9
Services PMI (points) 58.90 56 54 50.8 52.2 51.2
Industrial Production (%) 7.10 4.3 5.1 3.2 2 4.8
Industrial Production Mom (%) -9.20 0.1 0.3 0.8 -0.5 0.8
Manufacturing Production (%) 6.30 5.8 4.8 4 3 5.6
Car Production (Units) 169417.00 175000 200000 210000 230000 210000
Car Registrations 172643.00 184000 190000 200000 230000 220000
Mining Production (%) 7.80 5.5 8 2.4 4 2.4
Steel Production (Thousand Tonnes) 10600.00 9500 9300 9650 10000 8650
Composite PMI (points) 58.30 58.6 54 56 56.5 51.5

Consumer Actual Q2 Q3 Q4 Q1 2023
Consumer Confidence (points) 76.00 75 68 75 78 90
Consumer Spending (INR Billion) 22624.05 20375 21576 24260 23529 25109
Disposable Personal Income (INR Million) 238573760.00 232039478 212070504 248355284 248116710 257047719
Bank Lending Rate (%) 8.80 8.8 9.3 9.65 9.9 9.9
Gasoline Prices (USD/Liter) 1.25 1.3 1.34 1.39 1.44 1.44
Households Debt To GDP (% of GDP) 34.70 40 40.2 41 41 43

Housing Actual Q2 Q3 Q4 Q1 2023
Housing Index (points) 106.00 114 116 120 110 120
Construction Output (%) 8.40 7.5 3.6 6.8 4.2 3


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. India Forecast - was last updated on Tuesday, June 28, 2022.