India: Recent Economic Developments

International Monetary Fund

No 1995/086, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper describes economic developments in India during the 1990s. Since late 1993/94, economic activity has expanded rapidly. Fiscal policy was relaxed substantially in 1993/94, a move that was only partly reversed in 1994/95. Like some other emerging markets, India experienced a surge of capital inflows, which contributed to a loosening of monetary conditions, notwithstanding efforts by the Reserve Bank to tighten monetary policy. With increased confidence and greater access to foreign financing, private investment has increased sharply. On the structural side, the authorities have continued to press ahead with reforms in a number of areas.

Keywords: ISCR; CR; GDP; India; market; deficit; capital goods; consumer goods; making market transaction; market efficiency; adjustment program; commercial paper; market participant; India money; Monetary base; Public sector; Budget planning and preparation; Imports (search for similar items in EconPapers)
Pages: 68
Date: 1995-09-14
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