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Annual Policy Statement for the Year 2007-08

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  • Reserve Bank of India

Abstract

*Real gross domestic product (GDP) growth for 2006-07 was placed at 9.2 percent in the advance estimates of the Central Statistical Organisation (CSO) released in February 2007, over and above 9.0 per cent in 2005-06. *Industrial activity expanded strongly, with real GDP originating in industry estimated to have risen by 10.2 per cent in 2006-07 as compared with 8.0 per cent in the previous year. *Money supply (M3), on a year-on-year basis, increased by 20.8 per cent (Rs.5,67,372 crore) in 2006-07 as compared with 17.0 per cent (Rs.3,96,881 crore) in 2005-06. Bank credit to the commercial sector increased by 25.4 per cent (Rs.4,30,287 crore) as compared with the increase of 27.2 per cent (Rs.3,61,746 crore) a year ago. *As on April 7, 2007 inflation stood at 6.1 per cent as against 3.8 per cent a year ago. On an average basis, annual inflation increased from 4.4 per cent in 2005-06 to 5.4 per cent in 2006-07.

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  • Reserve Bank of India, 2007. "Annual Policy Statement for the Year 2007-08," Working Papers id:957, eSocialSciences.
    • Handle: RePEc:ess:wpaper:id:957
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    File URL: http://www.eSocialSciences.com/data/articles/Document1244200780.6569178.pdf
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    Cited by:

    1. Rakesh Mohan, 2008. "The Growth Record of the Indian Economy, 1950-2008: A Story of Sustained Savings and Investment," Working Papers id:1388, eSocialSciences.
    2. Dayanand Arora & Francis Xavier Rathinam, 2011. "OTC derivatives market in India: recent regulatory initiatives and open issues for market stability and development," Macroeconomics and Finance in Emerging Market Economies, Taylor & Francis Journals, vol. 4(2), pages 235-261, April.

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