Monthly Economic Report March, 2009

Highlights

• The overall growth of GDP during 2007-08 has been placed 9.0 per cent (as per Quick Estimate of CSO). Growth during the 2008-09 (as per Advance Estimate of CSO) has been estimated at 7.1 percent.
• The Pre-Monsoon Season (March-May) Season rainfall from March 1, 2009 to April 8, 2009 was normal/excess in 25 per cent of meteorological sub-divisions.
• Food grain stocks were 36.96 million tonnes as on February 1, 2009.
• Overall annual industrial growth was 2.8 per cent during April-February, 2008-09 ascompared to 8.8 per cent in April-February, 2007-08. During the month of February, 2009, the General Index stands at 272.8, which is 1.2 per cent lower as compared to the level in the month of February, 2008.
• Core infrastructure sectors achieved growth rate of 2.2 per cent during February, 2009 compared to a growth of 7.0 per cent in February, 2008.
• Broad Money (M3) growth (year-on-year) was 19.7 per cent as on March 13, 2009 as compared with 21.2 per cent last year.
• Exports grew by 7.3 per cent in dollar terms during April-February 2008-09. Imports increased by 19.1 per cent in April-February 2008-09.
• Foreign exchange reserves (excluding Gold, SDRs and Reserve Tranche Position in the IMF) stood at US $ 241.7 billion at the end of March, 2009.
• Rupee marginally against US dollar, Pound sterling and Euro in March 2009 touching Rs. 51.23 per US$, Rs. 72.90 per Pound sterling and Rs. 66.92 per Euro. Rupee appreciated against Japanese Yen.
• The annual inflation rate in terms of WPI (Base 1993-94=100) was 0.26 per cent for the week ended March 28, 2009 as compared to 7.75 per cent a year ago.
• Tax revenue (net to Centre) during April-February, 2008-09 was higher by 1.1 per cent compared with corresponding period 2007-08.
• Fiscal deficit during April-February, 2008-09 increased by 191.4 per cent over corresponding period last year.
• Revenue deficit during April-February, 2008-09 was higher by 344.8 per cent over corresponding period last year.