India: Staff Report for the 2006 Article IV Consultation

Author: International Monetary Fund

Volume/Issue: Volume 2007 Issue 063

Publication date: February 2007

ISBN: 9781451818642

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Exports and Imports , Economics- Macroeconomics , Public Finance , Taxation - General , ISCR , CR , WPI inflation , kerosene price , growth , deficit , staff appraisal , staff projection , state VAT collection , U , S , dollar , Asset prices , Corporate bonds , Global

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Summary

This 2006 Article IV Consultation highlights that India’s economy has continued to grow above trend, with an average growth of 8 percent in the last three years. Growth is broad based, with robust consumption, investment, and exports. With manufacturing expanding at more than 10 percent y/y, industry has joined services as an engine of growth. Net foreign investor inflows rebounded after the May/June 2006 stock market correction, and stock prices recovered smartly, reaching new historical highs. Real estate prices continue to grow at a rapid clip on the back of a credit boom.