India: Recent Economic Developments
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Summary:
This paper reviews economic developments in India during 1996–98. After three successive years of growth more than 7 percent, growth of slowed to an estimated 5 percent in 1997/98. The slowdown predates the Asian crisis, and its proximate causes are a decline in agricultural output and weak industrial sales. Weaker investment appears to be a major factor behind the industrial slowdown. The balance of payments continued to improve in 1997/98, despite a widening in the current account deficit to 1½ percent of GDP.
Series:
Country Report No. 1998/120
Subject:
Banking Commercial banks Economic sectors Financial institutions Imports Inflation International trade Prices Public enterprises Public sector
English
Publication Date:
November 4, 1998
ISBN/ISSN:
9781451818604/1934-7685
Stock No:
1INDEA0021998
Pages:
97
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