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Economic Intelligence Service

CMIE

Monthly Review of the Indian Economy
January 2008

Economic Intelligence Service

Monthly Review of the Indian Economy
January 2008

CMIE
CENTRE FOR MONITORING INDIAN ECONOMY PVT LTD
11 Apple Heritage, 54-C Andheri-Kurla Road, Andheri (East), Mumbai 400093 Tel: 022 - 3088 0099 Fax: 022 - 2687 0696 E-mail: info@cmie.com Website: www.cmie.com

Centre for Monitoring Indian Economy Pvt. Ltd., 2007 This document is meant strictly for the use of the addressees only. Information provided in this document should not be reproduced, published, re-sold or otherwise distributed in any medium without the prior written permission of Centre for Monitoring Indian Economy. Limited portions of the information provided in this document can be quoted in occasional reports, articles, studies without any written permission from Centre for Monitoring Indian Economy. However, this should be done with a clear acknowledgement to Centre for Monitoring Indian Economy as the source of the information. The acknowledgement should mention the name of the document, month of release and ‘Centre for Monitoring Indian Economy, Mumbai’. Centre for Monitoring Indian Economy takes every possible care to provide information using sources it believes are the most accurate and reliable. Centre for Monitoring Indian Economy, however, shall not be liable for any losses or consequences, if any, arising from the use of the information contained in the document.

Mumbai (HO): 11 Apple Heritage, 54-C Andheri-Kurla Road, Andheri (East), Mumbai 400093 Tel: (022) 30880099 Fax: (022) 26870696 E-mail: info@cmie.com Ahmadabad: Tel: (079) 26420618 Fax: (079) 26564644 Bangalore: Tel: (080) 22244026 Fax: (080) 22244027 Bhopal: Tel: (0755) 5274239 Fax: (0755) 2555378 Bhubneshwar: Tel: (0674)2595403 Fax: (0674)2595137 Chandigarh: Tel: (0172) 5017078 Fax: (0172) 5017078 Chennai: Tel: (044) 28331545 Fax: (044) 28234784 Coimbatore: Tel: (422) 531761 Dehradun: Tel: (0135) 2733789 Fax: (0135) 2733779 Delhi: Tel: (011) 23310102 Fax: (011) 23310094 Hyderabad: Tel: (040) 55466091 Fax: (040) 55466091 Jaipur: Tel: (0141) 5107608 Fax: (0141) 5107609 Kolkata: Tel: (033) 22822563 Fax: (033) 22822565 Lucknow: Tel: (0522) 2286530 Fax: (0522) 2286555 Pune: Tel: (020) 24430475 Fax: (020) 24430475

Ranchi: Tel: (0651) 233072 Fax: (0651) 233072

Contents

1

1. Executive Summary 2. Annual Indicators 3. Monthly Indicators 4. GDP Growth 5. Inflation 6. Interest Rates 7. Balance of Payments 8. Public Finance Central Government Finance Government Debt Floatations 9. Agriculture Prospects 10. Energy Coal Crude Oil Electricity 11. Infrastructure Railways Ports & Shipping Civil Aviation Telecommunications

2 4 9 12 15 18 20

12. Industry Industrial Production Sugar Tea Edible Oils & Vanaspati Textiles Man-made Fibre Chemicals Fertilisers Cement Steel Non-ferrous Metals Capital Goods Consumer Durables Transport Equipment 13. Corporate Sector Financial Performance 54 55 37 40 41 42 43 44 45 46 47 48 49 50 51 52

22 26

27

Corporate Debt 14 Capital Markets

29 30 32

Primary Capital Market Secondary Capital Markets Mutual Funds 15. Money & Banking

56 57 59

33 34 35 36

Money Supply Scheduled Commercial Banks 16. Foreign Trade 17. World Economy

60 63 66 75

Monthly Review of the Indian Economy, Centre for Monitoring Indian Economy

January 2008

2

Executive Summary

GDP Growth
The Indian economy has been growing at an impressive pace of nine per cent per annum in recent years. We believe that this pace would be sustained in the coming quarters and in the next fiscal as well. The rising consumption expenditure and domestic savings, the execution of the huge Rs.55.6 lakh crore outstanding capital investments and the continuous pouring in of the fresh ones assures that the Indian economy would grow at 9.1 per cent in 2007–08. These factors along with the apparent perception of low inflation are expected to...
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