Markets Actual Q1 Q2 Q3 Q4 2021
Currency 71.67 71.86 72.19 72.54 72.87 73.55
Stock Market (points) 41170.12 40255 39791 39335 38883 37979
Government Bond 10Y (%) 6.42 6.66 6.72 6.79 6.85 6.98

Overview Actual Q1 Q2 Q3 Q4 2021
GDP Growth Rate (%) 1.00 1.2 1.3 1.1 1.3 1.1
GDP Annual Growth Rate (%) 4.50 4.1 4.6 5.4 6 5.5
Unemployment Rate (%) 7.20 7.8 7.5 7.3 6.1 6.4
Inflation Rate (%) 7.59 7.5 4.5 4.6 5.2 4.5
Interest Rate (%) 5.15 5.15 4.9 4.5 4.5 3.75
Cash Reserve Ratio (%) 4.00 4 4 4 4 4
Balance of Trade (USD Million) -15170.00 -17000 -14200 -13300 -14100 -14100
Current Account (USD Million) -6253.68 -11000 -9000 -10000 -14600 -14600
Current Account to GDP (%) -2.10 -2.3 -2.3 -2.3 -2.3 -2.5
Government Debt to GDP (%) 69.62 70 70 70 70 68
Government Budget (% of GDP) -3.34 -3.3 -3.5 -3.5 -3.5 -3.3
Business Confidence (points) 112.80 115 112 111 112 111
Manufacturing PMI (points) 55.30 50.8 51 51.1 50.8 51
Services PMI (points) 55.50 51.8 51.7 52.3 51.9 52.6
Consumer Confidence (points) 89.40 95 98 98 101 102
Corporate Tax Rate (%) 25.17 25.17 25.17 25.17 25.17 25.17
Personal Income Tax Rate (%) 35.88 35.88 35.88 35.88 35.88 35.88

GDP Actual Q1 Q2 Q3 Q4 2021
GDP Growth Rate (%) 1.00 1.2 1.3 1.1 1.3 1.1
GDP Annual Growth Rate (%) 4.50 4.1 4.6 5.4 6 5.5
GDP (USD Billion) 2718.73 2950 2950 2950 2950 3100
GDP Constant Prices (INR Billion) 35993.34 37961 36676 36965 38153 40251
Gross National Product (INR Tens Of Million) 13954956.00 14241033 14275920 14331740 14792253 15605827
Gross Fixed Capital Formation (INR Billion) 11276.75 11656 11932 11581 11953 12611
GDP per capita (USD) 2104.20 2900 2900 2900 2900 3200
GDP per capita PPP (USD) 6899.20 7200 7200 7200 7200 7200
GDP From Agriculture (INR Billion) 3651.61 4961 4435 3750 3871 4084
GDP From Construction (INR Billion) 2621.49 2639 2877 2692 2779 2932
GDP From Manufacturing (INR Billion) 5765.60 6294 5812 5921 6112 6448
GDP From Mining (INR Billion) 727.76 1163 1012 747 771 814
GDP From Public Administration (INR Billion) 4674.34 4705 4262 4801 4955 5227
GDP From Utilities (INR Billion) 766.25 706 805 787 812 857

Labour Actual Q1 Q2 Q3 Q4 2021
Unemployment Rate (%) 7.20 7.8 7.5 7.3 6.1 6.4
Labor Force Participation Rate (%) 49.80 51.5 51.5 51.5 51.5 52.5
Population (Million) 1298.04 1319 1321 1325 1327 1341
Retirement Age Women 60.00 60 60 60 60 60
Retirement Age Men 60.00 60 60 60 60 60
Wages High Skilled (INR/Month) 43200.00 45500 45500 45500 46500 47500
Wages Low Skilled (INR/Month) 10900.00 17000 17000 17000 18000 18000
Youth Unemployment Rate (%) 23.70 23.4 24 24 24 24
Living Wage Family (INR/Month) 19400.00 18500 18500 18500 19800 20000
Minimum Wages ( INR/Day) 178.00 178 178 178 178 190

Prices Actual Q1 Q2 Q3 Q4 2021
Inflation Rate (%) 7.59 7.5 4.5 4.6 5.2 4.5
Consumer Price Index CPI (points) 150.20 151 150 153 158 165
GDP Deflator (points) 134.80 139 136 136 142 148
Producer Prices (points) 122.90 122 125 125 128 133
Producer Prices Change (%) 3.10 1.9 3.2 3.4 3.9 4.5
Export Prices (points) 376.00 385 385 385 385 400
Import Prices (points) 513.00 510 510 510 510 510
Food Inflation (%) 13.63 14.2 12 10 5.8 4.3
Inflation Expectations (%) 8.10 5.5 5.5 5.1 4.5 5.1
Inflation Rate Mom (%) -0.13 0.5 0.6 0.4 0.32 0.32
Cpi Housing Utilities (points) 153.90 160 157 159 161 168
CPI Transportation (points) 130.80 134 131 132 136 142

Money Actual Q1 Q2 Q3 Q4 2021
Interest Rate (%) 5.15 5.15 4.9 4.5 4.5 3.75
Cash Reserve Ratio (%) 4.00 4 4 4 4 4
Interbank Rate (%) 5.09 5.12 4.87 4.47 4.47 4.47
Foreign Exchange Reserves (USD Million) 473000.00 423000 424000 428000 420000 422000
Central Bank Balance Sheet (INR Billions) 21554.66 19422 18200 18200 19426 19826
Loan Growth (%) 7.10 12 13 11.5 12 12
Reverse Repo Rate (%) 4.90 4.85 4.7 4.6 4.5 4.5

Trade Actual Q1 Q2 Q3 Q4 2021
Balance of Trade (USD Million) -15170.00 -17000 -14200 -13300 -14100 -14100
Current Account (USD Million) -6253.68 -11000 -9000 -10000 -14600 -14600
Current Account to GDP (%) -2.10 -2.3 -2.3 -2.3 -2.3 -2.5
Imports (USD Million) 41140.00 42600 43700 44100 44400 45100
Exports (USD Million) 25970.00 32200 29500 30800 32200 34900
Terms of Trade (points) 73.30 75.49 75.49 75.49 75.49 78.43
Capital Flows (USD Million) -96.61 8.64 12 12 12 7.98
Foreign Direct Investment (USD Million) 3016.00 3600 4000 4000 2800 2600
Remittances (USD Million) 16373.32 13000 13500 15500 14000 13800
Tourist Arrivals 1225672.00 750000 720000 720000 1100000 1255000
Gold Reserves (Tonnes) 618.16 630 630 630 632 650
Crude Oil Production (BBL/D/1K) 659.00 700 700 700 700 702

Government Actual Q1 Q2 Q3 Q4 2021
Government Debt to GDP (%) 69.62 70 70 70 70 68
Government Budget (% of GDP) -3.34 -3.3 -3.5 -3.5 -3.5 -3.3
Government Budget Value (INR Billion) -9317.25 -9800 -4620 -6670 -6208 -6208
Government Spending (INR Billion) 4725.76 3762 4316 4853 5009 5285
Government Revenues (INR Billion) 11779.22 17600 3400 8200 13500 15500
Fiscal Expenditure (INR Billion) 21096.47 24400 7800 14600 19700 21500
Government Spending To GDP (% of GDP) 13.21 13.6 13.6 13.6 13.6 14

Taxes Actual Q1 Q2 Q3 Q4 2021
Corporate Tax Rate (%) 25.17 25.17 25.17 25.17 25.17 25.17
Personal Income Tax Rate (%) 35.88 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 Q1 Q2 Q3 Q4 2021
Business Confidence (points) 112.80 115 112 111 112 111
Manufacturing PMI (points) 55.30 50.8 51 51.1 50.8 51
Services PMI (points) 55.50 51.8 51.7 52.3 51.9 52.6
Industrial Production (%) -0.30 1.1 2.2 1.5 3.5 4.5
Industrial Production Mom (%) 4.00 1.2 -5 -2 0.87 0.87
Manufacturing Production (%) -1.20 1.2 2.5 1.8 5.6 5.6
Car Production (Units) 231672.00 230000 190000 230000 200000 218720
Car Registrations 207963.00 243231 245000 245000 210000 215000
Mining Production (%) 5.40 2 3 3 2.1 2.1
Steel Production (Thousand Tonnes) 9281.00 9500 8950 8950 9600 9650
Composite Pmi (points) 56.30 51 52.5 52.5 52.5 52.5
Cement Production (Thousands of Tonnes ) 30455.00 34780 29500 275000 30091 31791

Consumer Actual Q1 Q2 Q3 Q4 2021
Consumer Confidence (points) 89.40 95 98 98 101 102
Consumer Spending (INR Billion) 20274.01 21544 20199 20821 21490 22672
Disposable Personal Income (INR Million) 192817450.00 196770208 197252251 198023521 204386497 215627754
Bank Lending Rate (%) 9.40 9.4 9.15 8.75 8.75 8.75
Gasoline Prices (USD/Liter) 1.06 0.95 0.97 0.99 1.03 1.03
Households Debt To GDP (% of GDP) 11.60 11.5 11.5 11.5 11.5 12

Housing Actual Q1 Q2 Q3 Q4 2021
Housing Index (points) 105.00 120 123 125 130 142
Construction Output (%) 1.30 -0.6 2.5 2.5 3 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.