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The State of the Indian Economy 2009-10

Author

Listed:
  • Mathew Joseph

    (Indian Council for Research on International Economic Rela)

  • Karan Singh

    (Indian Council for Research on International Economic Rela)

  • Pankaj Vashisht

    (Indian Council for Research on International Economic Rela)

  • Dony Alex

    (Indian Council for Research on International Economic Rela)

Abstract

Despite signs of recovery from the global financial crisis, the GDP growth rate for theIndian economy is likely to be between 5.8 to 6.1 per cent in 2009-10, below the 6.7per cent recorded in fiscal 2008-09. While there has been an improvement in Indianindustry, particularly the manufacturing sector, the adverse impact of the fall in kharifproduction due to a rainfall deficiency will act as a drag on the overall growth of theeconomy. In the current financial year, the major policy challenges for thegovernment will come from the rather sharp rise in inflation and deteriorating publicfinances. The balance of payments situation may also require policy attention despitea narrowing of the current account deficit and a considerable capital account surplusbecause of the appreciation of the rupee.

Suggested Citation

  • Mathew Joseph & Karan Singh & Pankaj Vashisht & Dony Alex, "undated". "The State of the Indian Economy 2009-10," Indian Council for Research on International Economic Relations, New Delhi Working Papers 241, Indian Council for Research on International Economic Relations, New Delhi, India.
    • Handle: RePEc:ind:icrier:241
    as

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    File URL: http://www.icrier.org/publication/Workingpaper241.pdf
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    More about this item

    Keywords

    Forecasting Indian Economic Growth; Economic Outlook and Conditions; Financial Crisis; Fiscal Sustainability;
    All these keywords.

    JEL classification:

    • E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications
    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions
    • G01 - Financial Economics - - General - - - Financial Crises

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