Ministry of Finance

Department of Economic Affairs
Economic Division
8(1)/Ec. Dn. /2009
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 as
compared 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.

(Antony Cyriac)
Deputy Economic Adviser

8 12.2 5.0 2.7 6.9 4.0 100. real estate & business services 12. social & personal services 7.1 per cent and 10. insurance.0 2.0 8.1 b Manufacturing 9.7 17.5 12. 2007-08 and 2008-09(Percentage change over previous year) 2006/07 2007/08 2008/09 Sector(s) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 1.9 7.0 d Construction 16.9 c Electricity.8 5.0 (Q): Quick estimates (A): Advance Estimate Quarterly Estimates of GDP 2006-07.2 4.1 15.2 7.1 28.4 11.1 5.5 25.0 100. Financing. mining & quarrying 3.0 10.0 10.2 7.1 per cent in 2008-09 as compared to 9.7 -2. trade.4 10.3 15. community. insurance.9 per cent.0 10.9 9.6 2.2 Industry 2.2 11.5 5.7 5.1 12.7 6.6 5.7 26.4 9.5 8.6 9. gas & water supply Q2 Q3 10.3 12.0 100. hotels.3 5.8 9.4 26.6 5.1 15.2 7.3 14.0 1.8 4.2 14.0 per cent in 2007-08 (Quick Estimate). social & personal services 10.2 11.1 13.8 c Community.1 5. GDP at factor cost (total 1 to 8) 9.0 7.9 12.2 9.3 7.8 12.4 11. manufacturing 4.2 Economic growth As per the Advance Estimates (AE) of Central Statistical Organization (CSO).6 10.0 4.1 54.4 7.9 a Mining & quarrying 4.1 100.1 11.2 2.1 4.1 12.1 12.1 3.6 19.3 11.9 2.1 2.7 12.8 7.3 4.9 4.0 -0.1 11.5 8.8 7.8 14.6 12.2 10.9 8.7 8.6 5. forestry & fishing 2.8 55.2 9.7 2.3 10.0 2.2 4.7 12.6 9.2 7.6 11.6 3.7 13.9 14.6 per cent in Services as compared 4.5 7.8 2.3 8.4 12.2 7.5 7.3 2.3 .6 6.3 5.7 57.6 7.8 11.7 6.5 10.0 8.4 27.9 5.0 7. forestry & fishing 5.6 14.1 6.4 11.7 5.9 6. real estate & bus.9 3.9 13.9 9.2 9.0 11.6 per cent in Agriculture.7 9. At disaggregated level the growth during 2008-09 (AE) was 2.4 4.1 9.2 1.2 11.8 per cent in Industry and 9.7 6.6 3.9 6. hotels.4 13.9 4.8 7.4 11.8 10. Ministry of Statistics and Programme Implementation.1 5.5 11. agriculture.8 3.8 26.7 9.8 3.0 4.9 6.1 2 Industry 10.3 9.3 11.4 4.8 8.8 11. gas & water supply 5.3 9.6 5.8 11. construction 13.9 per cent respectively during 2007-08 (QE).5 18.9 10.2 4. the Gross Domestic Product (GDP) at factor cost at constant (1999-2000) prices had grown at 7. Services 13.7 6.8 10.7 Services 11.4 8.1 10.2 10.1 2.1 2.3 26.9 6. 8.7 11.3 6. 4. Growth of GDP at factor cost by Economic Activity(at 1999-2000 prices) 2007-08 (Q) 2008-09 (A) 2006-07 2007-08 (Q) 2008-09 (A) 2006-07 2005-06 2005-06 Percentage share in GDP Growth Industry 1 Agriculture.0 a Trade.6 13.2 10.3 4.1 9. transport & communication b Financing . electricity.5 11.5 9.6 5.6 54. transport & communication 10.4 4 GDP at factor cost 9.0 9.6 11.8 5.5 17.0 28.8 8.2 9.8 17.7 3.6 13.4 13.2 13.1 11.5 9.2 3 Services 10.6 13.

86 34.53 million tonnes during April-January 200708.28 42.77 Million Tonnes April-January 2007-08 2008-09 20.68 27.79 38.46 10.44 20.20 18. 2009 in the current marketing year (i.83 Wheat(AprMar) Total 15.44 per cent over the level of 17.48 42.47 25.53 32. Wheat procurement as on January 31.15 19.04 17.63 41. Million Tonnes 2003-04 Full Marketing Year 2004-05 2005-06 2006-07 Million Tonnes 24.66 25.45 As on January 31 2008 2009 % change 17. 2009 to April 8.31 28.06 11.97 16.13 22.13 million tonnes in the corresponding period of 2007-08.23 11. 2008-09 was 32.04 million tonnes as against 30. Number of Meteorological Sub-divisions 2004 11 25 36 Excess/Normal Deficient/Scanty/Nil Total 2005 24 12 36 2006 25 11 36 2007 15 21 36 2008 27 9 36 *(March-May) 2004-2008+ 20 16 36 2009* 9 27 36 + Annual Average PROCUREMENT Procurement of rice during the marketing year 2008-09 as on January 31.66 50.80 14. 2009 was normal/excess in 9 meteorological sub-divisions (25 per cent) and deficient/scanty in the remaining 27 (75 per cent).) 22.86 per cent at 22.04 .3 AGRICULTURE PRE-MOSOON SEASON RAINFALL* In the Pre-Monsoon Season.27 41.20 25.69 103.80 16.e. 2008-09) increased by 103.69 million tonnes as compared with 11.08 Rice(Oct-Sept.44 9. Rice Wheat Total P : Provisional 2004-05(P) 2005-06(P) 2006-07(P) 23.71 36.85 OFF-TAKE Off-take through the Public Distribution System from Central Pool during April-January.09 11. The annual average for 2004-2008 was normal/excess in 20 (56 per cent) meteorological sub-divisions and deficient/scanty in the remaining 16 (44 per cent). 2009 stood at 19.97 million tonnes which represents an increase 16.16 42. rainfall from March 1.58 30.15 million tonnes during the corresponding period of 2007-08.

8 percent and 2.20 20 10 0 Procurement as on January 31 Off-take during April-January 2007-08 Stocks as on February 1 2008-09 [Rice–Kharif marketing year (October-September)] [Wheat – Rabi marketing year (April-March)] INDEX OF INDUSTRIAL PRODUCTION The year on year growth achieved in February 2009 by the mining.4 per cent respectively as compared to 5.6 percent during the corresponding period of last year. 2009 compared to corresponding period of previous year.9 per cent. As per the use-based classification consumer durables showed higher during February.04 20.4 percent. manufacturing and electricity sector was -1.77 Total 21.53 32. 9. The annual growth achieved by the mining. Procurement and Off-Take of Foodgrains 50 Million Tonnes 42.20 million tonnes as on February 1.2 recent. While capital goods showed lower growth the growth in basic goods and intermediate goods continued negative the growth in consumer goods turned negative during February. Million Tonnes As on February 1 2008 2009 Rice 14.4 STOCKS Stocks of food-grains as on February 1. manufacturing and electricity sectors during April-February. 2.96 28.96 Stocks.28 30. which was higher by 74. 2008-09 was 2.3 percent and 6.6 per cent -1. .04 21.96 million tonnes.3 per cent during the corresponding month of last year. 2008. 2009.34 per cent than the level of 21.20 36.9 per cent and 9.16 16.4 per cent and 0.19 Wheat 7.7 per cent respectively as compared to 7. 2009 were 36. 6.66 40 30 36.

2 12.2 -1.4 2.8 Use-Based Classification 7.6 14.1 7.4 -5.4 8.0 10.1 10.0 4.8 -2.0 8.1 Sectorwise Index of Industrial Production Year on Year growth (% ) 12.7 -3.3 2.7 9.5 5.3 18.1 6.4 7.8 2.7 9.4 5.5 9.0 6.0 9.6 5.6 -1.6 6.0 2.2 Basic goods Capital goods Intermediate goods Consumer goods Of which Consumer durables Consumer nondurables 10.9 9.6 2.4 -0.5 7.7 -1.2 4.5 -1.0 Mining Manufacturing April-February.3 -5.3 18.4 9.0 2007-08 Feb /08 Feb /09 8.8 6.0 6.9 9.2 -1.0 Per cent 9.3 17.4 0.6 4.4 12.8 8.4 2.7 April-February 2007-08 2008-09 8.8 0.5 9.7 8.2 2.1 5. 2007-08 Electricity April-February.1 11. 2008-09 General .8 2.3 8.3 2.0 7.6 5.4 10.3 5.5 (PERCENTAGE CHANGE IN SECTORWISE INDEX OF INDUSTRIAL PRODUCTION (Base: 1993-94=100) 2006-07 General Mining Manufacturing Electricity 11.4 9.7 10.0 3.

2008-09 MONEY AND BANKING During the current financial year 2008-09. PRODUCTION IN INFRASTRUCTURE INDUSTRIES February Unit Industry/Infrastructure Coal Electricity Generation Mn tonnes in Gwh Crude petroleum 000 tonnes 2728 2559 31193 Petroleum Products Finished steel 000 tonnes 000 tonnes 11889 4370 11951 4527 132585 47695 Cement 000 tonnes 15230 16500 157420 7. 2009) increased by 16.2 - Overall growth rate 2008 43.49 57121.2 per cent as compared to 17.4 168820 7.0 Performance of Basic Infrastructure Industries Year on Year growth (% ) 12.5 per cent compared to 36.2 % Change April-February 2008-09 432.54 643245.8 3.0 7. 2009.0 Per cent 5.7 April-February 2007-08 397. 2009.0 8.6 3.8 per cent during the corresponding period of the previous year. The year on year growth rate of NFA.3 per cent as compared to an increase of 38.4 2009 46.0 2.9 7. Net foreign exchange assets (NFA) of banking sector during the current financial year (up to March 13.6 2008-09 8.7 per cent as compared to 21.7 8.6 per cent on the corresponding date of last year.7 136519 48850 7.6 INFRASTRUCTURE During April-February 2008-09.6 6.68 56978.2 5.0 Coal 7.5 -1. broad money stock (M3) (up to March 13.3 per cent during the corresponding period of the last year.2 - 5. 2007-08 April-February.1 30648 0. six core infrastructure industries registered a growth of 3. was 19.4 -1.7 Electricity Crude Petro.5 0. as on March 13.1 0.7 2.2 per cent of the corresponding date of last year. Petroleum Products Steel Cement -4.0 per cent (provisional) as against 5.6 3.12 656708.2 6. .6 2.2 5. The year-on-year growth. as on March 13.0 April-February. 2009) have increased by 0. was 2.6 4.9 7.0 2.8 per cent in the same period last year.0 2.5 2007-08 5.

587 26.14.7 5.324 9.95.6 5.55.334 18.0 17.769 34.9 20.4 -25. Money Stock : Components and Sources Item 1 M3 Components (i+ii+iii+iv) (i) Currency with the Public (ii) Demand Deposits with Banks (iii) Time Deposits with Banks (iv) "Other" Deposits with Reserve Bank Sources (i+ii+iii+iv-v) (i) Net Bank Credit to Government (a+b) (a) Reserve Bank (b) Other Banks (ii) Bank Credit to Commercial Sector (a+b) (a) Reserve Bank (b) Other Banks (iii) Net Foreign Exchange Assets of Banking Sector (iv) Government's Currency Liabilities to the Public (v) Banking Sector's Net Non-Monetary Liabilities of which : Net Non-Monetary Liabilities of RBI Outstanding as on 2008 2009 (Rs.2 13 19.788 25.5 20.06.69.74.0 84.53.6 74.912 1.408 6.0 39.23. 31 Mar.100 8.861 -3.9 19.4 17.69.739 -35.1 9.5 5.796 5.5 23.069 6.286 12.3 9 16.13.7 2.9 22.139 4. crore) Percentage Variation Financial Year Year-on-Year 2007-08 2008-09 2008 2009 % % % % Mar.760 30.998 16.2 12.077 -1.209 10.0 -8.1 18.723 8.476 5.9 22.2 2.1 3.55.07.3 36.67.6 2.962 20.74.5 16. 13 2 40.0 12.2 18.2 .4 7.1 28.7 41.20.32.8 7.98.278 12.88.6 25.10.722 3 46.3 9.28.3 17.842 38.8 13.8 20.1 7.25.787 10.124 29.7 7.68.2 20.831 7 17.9 20.5 3.8 13.2 11 21.131 12.04.6 8.103 29.8 0.5 9.1 35.7 20.206 3.8 24.5 16.

the same as on the corresponding date of last year.25 12.1 10.0 19.75 8.6 23.9 -6.50-12.9 3.00/4.9 7.00/4.2 13.2 21. 2009) increased by 14.5 per cent as compared to 23.3 21. 2009) gross bank credit increased by 13.1 23.4 -14.6 18. Call money rates are based on data covering 90-95 per cent of total transactions reported by major participants.70 per cent on the corresponding date of last year.00 March 13 6.8 -9. Prime Lending Rate relates to five major Banks.3 35. . Minimum Term Lending Rate (MTLR).50/9.00/4.7 25.5 18. Bank credit Food credit Non-Food credit 2.1 18. 2009 was 23.00 per cent. Item/ week ended Bank Rate IDBI1 Prime Lending Rate2 Deposit Rate3 Call Money Rate4(Low/High) Borrowings Lending 2008 2009 March 14 6. The Non-Food credit during the financial year (up to March 13. Aggregate deposit Demand deposit Time deposits 3.50 per cent as compared with 2. Call money rates (borrowing) were in the range of 2. 2009 2690513 47902 2642611 3732501 476271 3256230 1183870 958662 13053 1166237 17633 Per cent Variation Financial year so Year-on-year far 2007-08 2008-09 2008 2009 17. Select Scheduled Commercial banks – Business in India Items Outstanding as on ( Rs. 2009 Bank Rate was 6.75 2.25-12.8 21.50 1.9 per cent during the corresponding period of last year. 2008 2361913 44399 2317515 3196940 524310 2672630 971715 March 13. The year-on-year growth of time deposits with SCBs as on March 13.9 per cent compared to an increase of 17.0 -15.1 22.0 per cent compared to an increase of 18. and other approved securities Government securities Other approved securities Mar 28. 3.3 23.50/9.9 14.5 20.5 20.9 -5.70 2. Investments in Govt.50 2. 2.5 per cent during the corresponding period of last year.25 11.5 17. Deposit Rate relates to major banks for term deposits of more than one-year maturity.75-8.3 20.8 24. Crore) 1. 4.1 26.6 21.00 10.0 16.8 21.7 35.25-9.00 10.50 7.8 SCHEDULED COMMERCIAL BANKS (SCBs): BUSINESS IN INDIA During the current financial year (up to March 13.1 INTEREST RATES (PER CENT PER ANNUM) As on March 13.5 25.7 per cent during the corresponding period of last year.2 7.70 2.50/9.

US Dollar Millions Item Exports Imports Oil Non-Oil Trade Balance 2006-07 126361 185749 57144 128606 -59388 2007-08 162907 251444 79646 171798 -88537 April -February 2007 . 2008 1173060 238894 January.08 2008 .8 15. 2008 1201920 244045 October. 2005 593121 135571 March. Crore $ Millions (over last year) 126906 28123 54206 9537 7064 4713 359426 107306 (over last month) 34873 4995 67568 650 88 -2535 -41195 -6422 -4453 -9801 48741 -8817 -99725 -33255 -10904 -5077 3774 7635 -21730 -7709 37942 -179 20338 2961 . 2009. 2009 1231340 241676 March.3 19. 2008 1230896 304225 May.8 percent and Non-oil imports increased by 15.1 percent. 2008 1191016 238968 November 2008 1194790 246603 December. in dollar terms. Variation Rs.6 - Source: Provisional Data for April –February 2008-09 as per the press note of the Ministry of Commerce and Industry.9 FOREIGN TRADE Exports. 2006 647327 145108 March.3 percent and Imports increased by 19. 2008 1298552 302340 July. 2009 1211002 238715 February.09 145878 156597 228081 271687 70704 89684 157376 182003 -82203 -115090 % Change April-February 2008 . 2009 Note: * includes valuation changes Source: RBI.6 per cent during April-February. during April-February 2009 increased by 7. 2007 836597 191924 March. Crore Amount* $ Millions At the end of March. 2008 1298464 304875 June. SDRs and Reserve Tranche Position in IMF) Rs. 2008 1196023 299230 2008-2009 April. 2008 1252904 286117 1301645 277300 September. 2008 1257357 295918 August.09 7.1 26. FOREIGN EXCHANGE RESERVES (EXCLUDING GOLD. The Oil imports increased by 26.

23 1.621.45 crore in March 2009 as compared with Rs.19 252.80 7.22 39.61 2) Repayments 954.22 39. 2.78 1) Gross Disbursements 19.64 10.38 4) Net Disbursement (1-2) 2.00 4) Net Disbursement (1-2) 9.016.21 52.87 2.845.34 518.503.78 2) Repayments 0.10 EXTERNAL ASSISTANCE AND DEBT SERVICE PAYMENTS Gross external aid (Government account) in March.199.444.80 3) Interest Payments 0.72 15.74 467.96 9.663. EXTERNAL ASSISTANCE AND DEBT SERVICE PAYMENTS (Rs.626.16 3.00 0.22 39.851.07 642.621.59 287.902.84 4.58 4. from its level in February 2009.58 (4-3) Non Govt Grants Grand Total 4.340.21 52.95 External Assistance (Government Account) 1) Gross Disbursement 3. Net aid transfers were 1.25 3) Interest Payments 495.25 crore in March.95 743.621.2 percent higher than that of Rs.34 518.099.80 crore in March 2008. 2008.27 53.28 1.63 15.43 2.703.11 2.656.00 0.48 3.87 2.96 271.25 2) Repayments 954.77 19.823.333.02 630.744. 3.09 2) Repayments 0.83 11.236.00 3) Interest Payments 0.458.00 0.60 crore was -1. Pound sterling and Euro marginally Rupee appreciated against Japanese yen.60 19.00 0.845.00 0.060.34 3.09 5) Net Transfers 427. 3. 2009 at Rs.067.399.16 3.45 7.65 645.00 0.53 5) Net Transfers 2.40 9.78 8.51 486.75 (4-3) Rupees per Unit of Foreign Currency The monthly average exchange rate of the rupee for March 2009 depreciated against US dollar.40 9. .43 2.00 0.09 1) Gross Disbursement 9.04 2.40 4) Net Disbursement (1-2) 667.180.05 3) Interest Payments 495.59 26.00 0.96 crore in February 2009 as compared with Rs.87 11.45 5.744.99 6.81 4. 2.295.949.00 0.840.149.64 crore in corresponding period last year.14 10.78 4) Net Disbursement (1-2) 3.936.258.703. 2.282.593.76 2) Repayments 0.87 2.96 5) Net Transfers (4-3) 667.475. crore) MARCH 2009 During the Financial year 2008-2009 MARCH 2008 During the Fincial year 2007-2008 15.334.43 2.00 3) Interest Payments 0.295.631.70 5) Net Transfers 1.78 5) Net Transfers (4-3) 9.334.51 4.46 2.007.40 9.340.21 52.72 2.00 0.493.65 3.32 (4-3) External Assistance (Non-Government Account) 1) Gross Disbursement 667.33 1.843.64 3. Net disbursements were Rs.236.904.841.34 518.00 0.349.68 690.56 1) Gross Disbursement Govt Grants 427.00 0.00 4) Net Disbursement (1-2) 427.744.

2624 51. Lights and Lubricants and 1.0049 48.5404 0. 09) Last year Current Last year Current year year All Commodities 100.3754 0.68 80. 6.3893 0. 2008 July.5514 64. 2008) 2008-09 (February. Manufactured Products 63.1050 85.98 0.23 0. VARIATION IN WHOLESALE PRICE INDEX (Base: 1993-94) Percent variation during Items/Groups Weight Month end Year (Point to Point) (%) (week ending Mar 28.92 9.5583 70.81 0.20 82.63 40. 2008 May.08 0. 2009 February.27 62.6687 65. 2008 December.75 3.11 per cent decrease in Fuel.92 . 2008 January.55 7.0646 82. 2008 September.75 0.46 2. 2008 2007-08 (February.68 per cent.7888 49. CONSUMER PRICE INDEX FOR INDUSTRIAL WORKER AND INFLATION RATE IN PER CENT (Base : 2001=100) Annual Inflation Financial Year Inflation Per cent change over last month Level of Index Average of Index for 12 months ending February.80 6.57 135 131.0993 62.26 1.13 42.6345 48.5735 67.03 0.4009 58.5635 64. 2009 was 9.42 CONSUMER PRICE INDEX All India Consumer Price Index for Industrial Workers (CPI-IW) for February.03 65.03 40.46 per cent in Primary Articles.00 1.78 -6. This rate was contributed by an increase of 3.6555 49. 2008 June. 2009) 5.5347 0.5330 0. 2008. Fuel and Power group 14.9207 INFLATION The annual rate of inflation based on Wholesale Price Index (WPI) stood at 0.8279 72.68 3.1704 81.34 per cent respectively on the corresponding date of last year.5115 0.47 6.7730 70. 2009 compared with 7. 2008 2008-2009 April.1792 72. The CPI-IW in February.47 per cent in February.30 0.8387 61.63 8.02 -1. Primary articles 22. 2008 October.9041 0. 2008 November. 2007 March.74 84.4041 0.23 -0.11 3.8380 42.6728 65. 6.4274 0.11 Rupees Per Unit of Foreign Currency US Dollar Pound Sterling Japanese Yen March.9111 45.3934 0.5635 48.36 85.18 7.78 per cent and 7.25 9.4015 0.2008 August.75 per cent a year ago.8212 42. 2009 March.8885 66.55 66.42 per cent increase in Manufactured Products as against an increase of 9.5251 63.2287 79.03 1.02 42.6518 75.4873 0.63 per cent which is higher than 5.26 per cent for week ended March 28.3406 82.34 1. 2009 stood at 148.00 148 143.4007 0.4467 65. 2009 @ FEDAI Rates Euro 44. Power.

52 1020.60 140.00 624.79 711.65 Crude oil.65 645.68 56.20 1335.53 1772.33 1000.12 231.85 Tea.00 44.84 10842.00 562.89 218.74 146.13 872.14 26.35 * Rubber RSS3.00 577.74 113.75 Gold $/toz 869.21 267. Malaysia $/cum 277.00 1293.50 449.53 908.25 265.83 182.24 4.50 157.00 1100.58 239.67 11306.00 570. Brent $/bbl 115.21 121.70 572.69 228.86 41.00 512.74 111.00 Crude oil.04 118.78 127. auctions (3).67 1286.60 140.76 29.95 168.25 126.00 572.84 Copper $/mt 7679.65 322.36 166.82 169.85 27.92 172.50 Potassium chloride $/mt 635.57 846.47 115.69 3314.27 110.40 565.00 1033.70 113.59 782.14 1821.28 28.00 597.57 5.24 46.33 265.00 367.63 798.03 6.03 1139.39 195.38 1265. 25% $/mt 669.76 165.42 292.17 351. US $/mmbtu 9.69 943.33 362. US.80 92.75 471.57 10470.72 Oranges $/mt 1162.57 Plywood ¢/sheets 648.40 75.73 315.08 DAP $/mt 1153.38 273.11 224.95 Wheat US SRW $/mt 241.89 44.00 575.17 371.68 313. Dubai $/bbl 113.04 578.00 565.00 754.51 117.00 157.51 1102.33 1100.60 140.00 Urea $/mt 745.63 Phosphate rock $/mt 409.75 9696.00 472.00 Groundnut oil $/mt 2416.00 Soybean meal $/mt 450.00 Palmkernel oil $/mt 1114. average ¢/kg 272.00 Soybean oil $/mt 1353.60 140.00 1224.08 789.93 1137.83 166.38 164.15 202.41 176.91 10408.60 140.23 Agriculture Coffee.00 Steel hr coilsheet $/mt 1000.00 800.42 464.11 183.80 606.68 Fertilizers Metals and Minerals Aluminum Source : World Bank – The Pink Sheet .90 1343.33 206.84 192.87 3904.69 230.60 Lead ¢/kg 191.52 218.32 143.47 53.74 187.58 794.25 748.53 182.84 46.91 120.57 175.43 Rubber RSS1.00 924.33 771.92 469.00 766.61 216.60 55.00 900.29 1103.70 766.88 367.40 4.00 343.50 Sugar.67 865.96 542.67 44.52 3.21 121.35 165.26 29.14 Woodpulp $/mt 848.68 663.45 288.23 124.00 1100. robusta ¢/kg 244.50 Steel cr coilsheet $/mt 1100.33 320.54 Raw Materials Logs.89 Nickel $/mt 18960.47 563.12 1330. HRW $/mt 317.97 43. Australia $/mt 162.93 79.43 159.50 381.33 193.98 44.68 1311.14 45.00 Tin ¢/kg 2051.00 Palm oil $/mt 928.97 71.00 725.00 Cotton A Index ¢/kg 168.59 Zinc ¢/kg 177. world ¢/kg 31.73 3749. avg.17 368.50 Wheat.00 1000.67 1343.42 1359.00 933.02 146.86 43. US ¢/kg 329.12 WORLD COMMODITY PRICE Quarterly averages Commodity Unit Monthly averages Jul-Sep Oct-Dec Jan-Mar Jan Feb Mar 2008 2008 2009 2009 2009 2009 Energy Coal.00 830.58 Coconut oil $/mt 1246. spot $/bbl 115.33 263.38 $/mt 2787.58 213.33 364.56 Rice.05 123.89 3428.67 677.58 Natural gas.35 183.04 148.00 673.50 870.21 853.27 Iron ore ¢/dmtu 140.74 168.38 61.11 43.93 1067.00 577.00 1000.56 44.39 3220.36 Silver ¢/toz 1494.00 586.84 Crude oil.00 Maize $/mt 244.27 574.33 609.00 734. Thailand.15 1309.56 329. SGP ¢/kg 298.83 163.65 858.51 841.72 1413.21 118.

1 5.07.8 99.Total Expenditure (4)+(5)=(a)+(b) (a)Revenue Expenditure 7.848 33.2 16.6 147744 3.5 10.10.37.1 -33.9 443.07.Plan Expenditure (i)+(ii) (i) Revenue Account (ii) Capital Account 7.17.6 14.4 -8. Fiscal Deficit 9.2 -3.715 5.2 83.4 -13.1 28.386 171283 2.397 89.98.4 of which: Interest payments Major Subsidies Pensions (b) Capital Account 5.8 -463.8 2.0 -28.33.5 110.6 23.15.146 21038 27.4 7.3 89.1 103.41.7 71.32.7 24.498 412850 5.9 4.6 15.414 75.133 69.8 10. Crore) (1) (5) (6) (7)) (8) 436389 4.9 39.8 0.3 107.5 26.Non-Plan Expenditure (a)+(b) (a) Revenue Account 4.33.8 84.7 837.007 101.3 97.927 76.5 191.9 14.50.767 145669 1.13 PUBLIC FINANCE Trends in Central Government Finances: April-February 2008-09 Budget April-February Estimates 2008-09 2007.324 85.2008-09 08 (Rs.5 26.81.085 .8 230.165 37800 43 90.4 55.09.4 230.82.287 105402 3.9 37.8 -49.6 109.5 191.2 31.799 66.0 1.5 1.8 1.8 7.48.807 144340 1.44.3 27.8 2.8 101.2 38.741 67164 33.58.6 25.715 466163 4. Revenue Deficit 8.935 95.1 57.287 105402 3.685 73.3 24.513 76.184 54966 2.9 176.0 188.577 83.497 0.2 1.8 1.7 24.02.910 88.4 4542 3.5 95.1 28.3 344.50.150 352356 3.222 90.65.1 210.2 27.133 69.0 72.765 92778 66.6 11.884 584133 7.07.619 25614 32.48.3 as Col.0 87.390 85. Capital Receipts (2) 6.729 83. 4 as % Change over % of % of proceeding year 2007-08 2008-09 2007-08 2008-09 BE BE (4/3) of which: Recovery of loans Other Receipts Borrowings and other liabilities 3. Primary Deficit 25.9 110. Revenue Receipts Gross tax revenue Tax (net to Centre) Non Tax 2.56.062 90.537 56545 1.324 85.1 84033 81.2 19.3 26.4 -57.8 99.48.8 (b)Capital Expenditure 92.7 72.47.8 6.9 -245.1 107.6 26. Total Receipts (1+2) 4.2 70.90.87.6 -17.5 95.07.520 -38938 1.334 483.4 21.2 6.4 -13.949 (3) (4) Col.747 86.43.884 584133 7.352 345686 4.9 59.99.119 491355 6.0 35.8 83.1 6.8 86.785 1.6 110.751 302.

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