IMF Staff Country Reports

India: Recent Economic Developments

Publication Date:

September 14, 1995

Summary:

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.

Series:

Country Report No. 1995/086

Subject:

Budget planning and preparation Economic sectors Imports International trade Monetary base Money Public financial management (PFM) Public sector Revenue administration

Notes:

This report on recent economic developments in India was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. In releasing this document for public use, confidential material may have been removed at the request of the member.