WEO Country Code ISO WEO Subject Code Country Subject Descriptor

Subject Notes Units Scale Country/Series-specific Notes 2021 2022 2023

2024 2025 2026 2027 2028 Estimates Start After
534 IND NGDP_R India Gross domestic product, constant prices Expressed in
billions of national currency units; the base year is country-specific.
Expenditure-based GDP is total final expenditures at purchasers' prices (including
the f.o.b. value of exports of goods and services), less the f.o.b. value of
imports of goods and services. [SNA 1993] National currency Billions Source:
National Statistics Office. The original data is in fiscal years, which begins in
April and ends in March, to match with authorities' reporting methods. Latest
actual data: FY2021/22. Latest quarterly data is as of December 2022 National
accounts manual used: System of National Accounts (SNA) 2008 GDP valuation: Market
prices Reporting in calendar year: No. Fiscal data are mapped to calendar year as
follows: FY(t/t+1) = CY(t). Start/end months of reporting year: April/March Base
year: FY2011/12. The base year is by Fiscal Year, which is April to March (e.g.
FY2004: April 2004 - March 2005). Growth rates of real GDP calculated from 1998 to
2011 are as per national accounts with base year 2004/05, and thereafter are as per
national accounts with base year 2011/12 Chain-weighted: No Primary domestic
currency: Indian rupee Data last updated: 03/2023 149,258.400 159,453.688
168,845.337 179,534.486 190,677.039 202,248.158 214,387.508 227,341.609 2022
534 IND NGDP_RPCH India Gross domestic product, constant prices Annual
percentages of constant price GDP are year-on-year changes; the base year is
country-specific. Expenditure-based GDP is total final expenditures at purchasers'
prices (including the f.o.b. value of exports of goods and services), less the
f.o.b. value of imports of goods and services. [SNA 1993] Percent change
See notes for: Gross domestic product, constant prices (National currency).
9.050 6.831 5.890 6.331 6.206 6.068 6.002 6.042 2022
534 IND NGDP India Gross domestic product, current prices Expressed in
billions of national currency units. Expenditure-based GDP is total final
expenditures at purchasers' prices (including the f.o.b. value of exports of goods
and services), less the f.o.b. value of imports of goods and services. [SNA 1993]
National currency Billions Source: National Statistics Office. The
original data is in fiscal years, which begins in April and ends in March, to match
with authorities' reporting methods. Latest actual data: FY2021/22. Latest
quarterly data is as of December 2022 National accounts manual used: System of
National Accounts (SNA) 2008 GDP valuation: Market prices Reporting in calendar
year: No. Fiscal data are mapped to calendar year as follows: FY(t/t+1) = CY(t).
Start/end months of reporting year: April/March Base year: FY2011/12. The base year
is by Fiscal Year, which is April to March (e.g. FY2004: April 2004 - March 2005).
Growth rates of real GDP calculated from 1998 to 2011 are as per national accounts
with base year 2004/05, and thereafter are as per national accounts with base year
2011/12 Chain-weighted: No Primary domestic currency: Indian rupee Data last
updated: 03/2023 234,710.100 272,266.797 305,077.058 339,153.464 375,567.949
415,392.672 458,717.577 506,632.882 2022
534 IND NGDPD India Gross domestic product, current prices Values are based
upon GDP in national currency converted to U.S. dollars using market exchange rates
(yearly average). Exchange rate projections are provided by country economists for
the group of other emerging market and developing countries. Exchanges rates for
advanced economies are established in the WEO assumptions for each WEO exercise.
Expenditure-based GDP is total final expenditures at purchasers' prices (including
the f.o.b. value of exports of goods and services), less the f.o.b. value of
imports of goods and services. [SNA 1993] U.S. dollars Billions See notes
for: Gross domestic product, current prices (National currency). 3,150.307
3,386.403 3,736.882 4,062.154 4,403.354 4,765.545 5,153.012
5,575.474 2022
534 IND PPPGDP India Gross domestic product, current prices These data
form the basis for the country weights used to generate the World Economic Outlook
country group composites for the domestic economy. The IMF is not a primary
source for purchasing power parity (PPP) data. WEO weights have been created from
primary sources and are used solely for purposes of generating country group
composites. For primary source information, please refer to one of the following
sources: the Organization for Economic Cooperation and Development, the World Bank,
or the Penn World Tables. For further information see Box 1.1 in the October 2020
World Economic Outlook, "Revised Purchasing Power Parity Weights" in the July 2014
WEO Update, Box A2 in the April 2004 World Economic Outlook, Box A1 in the May 2000
World Economic Outlook, and Annex IV in the May 1993 World Economic Outlook for
summaries of the revised PPP-based weights; and Box 1.2 in the September 2003 World
Economic Outlook for a discussion on the measurement of global growth. See also
Anne Marie Gulde and Marianne Schulze-Ghattas, Purchasing Power Parity Based
Weights for the World Economic Outlook, in Staff Studies for the World Economic
Outlook (Washington: IMF, December 1993), pp. 106-23. Purchasing power parity;
international dollars Billions See notes for: Gross domestic product, current
prices (National currency). 10,370.824 11,855.390 13,033.443 14,165.534
15,330.570 16,563.765 17,876.990 19,314.487 2022
534 IND NGDP_D India Gross domestic product, deflator The GDP deflator
is derived by dividing current price GDP by constant price GDP and is considered to
be an alternate measure of inflation. Data are expressed in the base year of each
country's national accounts. Index See notes for: Gross domestic product,
constant prices (National currency) Gross domestic product, current prices
(National currency). 157.251 170.750 180.684 188.907 196.965
205.388 213.967 222.851 2022
534 IND NGDPRPC India Gross domestic product per capita, constant prices
GDP is expressed in constant national currency per person. Data are derived
by dividing constant price GDP by total population. National currency Units See
notes for: Gross domestic product, constant prices (National currency) Population
(Persons). 105,860.680 112,028.516 117,538.585 123,862.859 130,407.165 137,153.671
144,195.590 151,695.935 2013
534 IND NGDPRPPPPC India Gross domestic product per capita, constant prices
GDP is expressed in constant international dollars per person. Data are
derived by dividing constant price purchasing-power parity (PPP) GDP by total
population. Purchasing power parity; 2017 international dollar Units See notes
for: Gross domestic product, constant prices (National currency) Population
(Persons). 6,665.879 7,054.258 7,401.218 7,799.447 8,211.532 8,636.349
9,079.767 9,552.052 2013
534 IND NGDPPC India Gross domestic product per capita, current prices
GDP is expressed in current national currency per person. Data are derived by
dividing current price GDP by total population. National currency Units See notes
for: Gross domestic product, current prices (National currency) Population
(Persons). 166,466.817 191,288.428 212,373.799 233,985.786 256,857.102 281,696.656
308,530.345 338,055.796 2013
534 IND NGDPDPC India Gross domestic product per capita, current prices
GDP is expressed in current U.S. dollars per person. Data are derived by
first converting GDP in national currency to U.S. dollars and then dividing it by
total population. U.S. dollars Units See notes for: Gross domestic product,
current prices (National currency) Population (Persons). 2,234.337 2,379.209
2,601.362 2,802.526 3,011.526 3,231.733 3,465.881 3,720.290 2013
534 IND PPPPC India Gross domestic product per capita, current prices
Expressed in GDP in PPP dollars per person. Data are derived by dividing GDP
in PPP dollars by total population. These data form the basis for the country
weights used to generate the World Economic Outlook country group composites for
the domestic economy. The IMF is not a primary source for purchasing power parity
(PPP) data. WEO weights have been created from primary sources and are used solely
for purposes of generating country group composites. For primary source
information, please refer to one of the following sources: the Organization for
Economic Cooperation and Development, the World Bank, or the Penn World Tables.
For further information see Box 1.1 in the October 2020 World Economic Outlook,
"Revised Purchasing Power Parity Weights" in the July 2014 WEO Update, Box A2 in
the April 2004 World Economic Outlook, Box A1 in the May 2000 World Economic
Outlook, and Annex IV in the May 1993 World Economic Outlook for summaries of the
revised PPP-based weights; and Box 1.2 in the September 2003 World Economic Outlook
for a discussion on the measurement of global growth. See also Anne Marie Gulde and
Marianne Schulze-Ghattas, Purchasing Power Parity Based Weights for the World
Economic Outlook, in Staff Studies for the World Economic Outlook (Washington: IMF,
December 1993), pp. 106-23. Purchasing power parity; international dollars Units
See notes for: Gross domestic product, current prices (National currency)
Population (Persons). 7,355.448 8,329.326 9,072.992 9,772.961 10,484.829
11,232.642 12,023.942 12,887.783 2013
534 IND PPPSH India Gross domestic product based on purchasing-power-parity
(PPP) share of world total Expressed in percent of world GDP in PPP dollars.
These data form the basis for the country weights used to generate the World
Economic Outlook country group composites for the domestic economy. The IMF is
not a primary source for purchasing power parity (PPP) data. WEO weights have been
created from primary sources and are used solely for purposes of generating country
group composites. For primary source information, please refer to one of the
following sources: the Organization for Economic Cooperation and Development, the
World Bank, or the Penn World Tables. For further information see Box 1.1 in the
October 2020 World Economic Outlook, "Revised Purchasing Power Parity Weights" in
the July 2014 WEO Update, Box A2 in the April 2004 World Economic Outlook, Box A1
in the May 2000 World Economic Outlook, and Annex IV in the May 1993 World Economic
Outlook for summaries of the revised PPP-based weights; and Box 1.2 in the
September 2003 World Economic Outlook for a discussion on the measurement of global
growth. See also Anne Marie Gulde and Marianne Schulze-Ghattas, Purchasing Power
Parity Based Weights for the World Economic Outlook, in Staff Studies for the World
Economic Outlook (Washington: IMF, December 1993), pp. 106-23. Percent
See notes for: Gross domestic product, current prices (National currency).
7.012 7.251 7.470 7.713 7.943 8.169 8.404 8.651 2022
534 IND PPPEX India Implied PPP conversion rate Expressed in national
currency per current international dollar. These data form the basis for the
country weights used to generate the World Economic Outlook country group
composites for the domestic economy. The IMF is not a primary source for
purchasing power parity (PPP) data. WEO weights have been created from primary
sources and are used solely for purposes of generating country group composites.
For primary source information, please refer to one of the following sources: the
Organization for Economic Cooperation and Development, the World Bank, or the Penn
World Tables. For further information see Box 1.1 in the October 2020 World
Economic Outlook, "Revised Purchasing Power Parity Weights" in the July 2014 WEO
Update, Box A2 in the April 2004 World Economic Outlook, Box A1 in the May 2000
World Economic Outlook, and Annex IV in the May 1993 World Economic Outlook for
summaries of the revised PPP-based weights; and Box 1.2 in the September 2003 World
Economic Outlook for a discussion on the measurement of global growth. See also
Anne Marie Gulde and Marianne Schulze-Ghattas, Purchasing Power Parity Based
Weights for the World Economic Outlook, in Staff Studies for the World Economic
Outlook (Washington: IMF, December 1993), pp. 106-23. National currency per current
international dollar See notes for: Gross domestic product, current
prices (National currency). 22.632 22.966 23.407 23.942 24.498
25.078 25.660 26.231 2022
534 IND NID_NGDP India Total investment Expressed as a ratio of total
investment in current local currency and GDP in current local currency. Investment
or gross capital formation is measured by the total value of the gross fixed
capital formation and changes in inventories and acquisitions less disposals of
valuables for a unit or sector. [SNA 1993] Percent of GDP Source:
National Statistics Office. The original data is in fiscal years, which begins in
April and ends in March, to match with authorities' reporting methods. Latest
actual data: FY2021/22. Latest quarterly data is as of December 2022 National
accounts manual used: System of National Accounts (SNA) 2008 GDP valuation: Market
prices Reporting in calendar year: No. Fiscal data are mapped to calendar year as
follows: FY(t/t+1) = CY(t). Start/end months of reporting year: April/March Base
year: FY2011/12. The base year is by Fiscal Year, which is April to March (e.g.
FY2004: April 2004 - March 2005). Growth rates of real GDP calculated from 1998 to
2011 are as per national accounts with base year 2004/05, and thereafter are as per
national accounts with base year 2011/12 Chain-weighted: No Primary domestic
currency: Indian rupee Data last updated: 03/2023 31.225 31.623 32.436
32.956 33.500 34.044 34.501 34.984 2022
534 IND NGSD_NGDP India Gross national savings Expressed as a ratio of gross
national savings in current local currency and GDP in current local currency. Gross
national saving is gross disposable income less final consumption expenditure after
taking account of an adjustment for pension funds. [SNA 1993] For many countries,
the estimates of national saving are built up from national accounts data on gross
domestic investment and from balance of payments-based data on net foreign
investment. Percent of GDP Source: National Statistics Office. The
original data is in fiscal years, which begins in April and ends in March, to match
with authorities' reporting methods. Latest actual data: FY2021/22. Latest
quarterly data is as of December 2022 National accounts manual used: System of
National Accounts (SNA) 2008 GDP valuation: Market prices Reporting in calendar
year: No. Fiscal data are mapped to calendar year as follows: FY(t/t+1) = CY(t).
Start/end months of reporting year: April/March Base year: FY2011/12. The base year
is by Fiscal Year, which is April to March (e.g. FY2004: April 2004 - March 2005).
Growth rates of real GDP calculated from 1998 to 2011 are as per national accounts
with base year 2004/05, and thereafter are as per national accounts with base year
2011/12 Chain-weighted: No Primary domestic currency: Indian rupee Data last
updated: 03/2023 29.997 29.012 30.252 30.758 31.268 31.673
32.058 32.455 2022
534 IND PCPI India Inflation, average consumer prices Expressed in averages
for the year, not end-of-period data. A consumer price index (CPI) measures changes
in the prices of goods and services that households consume. Such changes affect
the real purchasing power of consumers' incomes and their welfare. As the prices of
different goods and services do not all change at the same rate, a price index can
only reflect their average movement. A price index is typically assigned a value of
unity, or 100, in some reference period and the values of the index for other
periods of time are intended to indicate the average proportionate, or percentage,
change in prices from this price reference period. Price indices can also be used
to measure differences in price levels between different cities, regions or
countries at the same point in time. [CPI Manual 2004, Introduction] For euro
countries, consumer prices are calculated based on harmonized prices. For more
information see http://epp.eurostat.ec.europa.eu/cache/ITY_OFFPUB/KS-BE-04-001/EN/
KS-BE-04-001-EN.PDF.] Index Source: National Statistics Office. The
original data are in monthly. IMF staff collapsed it to fiscal year data. Latest
actual data: FY2021/22 Harmonized prices: No. CPI-National (CY2006M1 forward) is
used spliced with CPI-Industrial Workers (CY2005M12 backward) [20011=100]. Base
year: FY2011/12 Primary domestic currency: Indian rupee Data last updated: 03/2023
173.888 185.491 194.663 203.291 211.609 220.267
229.078 238.241 2022
534 IND PCPIPCH India Inflation, average consumer prices Annual percentages
of average consumer prices are year-on-year changes. Percent change See
notes for: Inflation, average consumer prices (Index). 5.507 6.673 4.945 4.432
4.092 4.092 4.000 4.000 2022
534 IND PCPIE India Inflation, end of period consumer prices Expressed in end
of the period, not annual average data. A consumer price index (CPI) measures
changes in the prices of goods and services that households consume. Such changes
affect the real purchasing power of consumers' incomes and their welfare. As the
prices of different goods and services do not all change at the same rate, a price
index can only reflect their average movement. A price index is typically assigned
a value of unity, or 100, in some reference period and the values of the index for
other periods of time are intended to indicate the average proportionate, or
percentage, change in prices from this price reference period. Price indices can
also be used to measure differences in price levels between different cities,
regions or countries at the same point in time. [CPI Manual 2004, Introduction] For
euro countries, consumer prices are calculated based on harmonized prices. For more
information see http://epp.eurostat.ec.europa.eu/cache/ITY_OFFPUB/KS-BE-04-001/EN/
KS-BE-04-001-EN.PDF. Index Source: National Statistics Office. The
original data are in monthly. IMF staff collapsed it to fiscal year data. Latest
actual data: FY2021/22 Harmonized prices: No. CPI-National (CY2006M1 forward) is
used spliced with CPI-Industrial Workers (CY2005M12 backward) [20011=100]. Base
year: FY2011/12 Primary domestic currency: Indian rupee Data last updated: 03/2023
166.500 176.909 184.827 192.731 200.617 208.826
217.179 225.866 2022
534 IND PCPIEPCH India Inflation, end of period consumer prices Annual
percentages of end of period consumer prices are year-on-year changes. Percent
change See notes for: Inflation, end of period consumer prices (Index).
6.344 6.252 4.476 4.277 4.092 4.092 4.000 4.000 2022
534 IND TM_RPCH India Volume of imports of goods and services Percent
change of volume of imports refers to the aggregate change in the quantities of
total imports whose characteristics are unchanged. The goods and services and their
prices are held constant, therefore changes are due to changes in quantities only.
[Export and Import Price Index Manual: Theory and Practice, Glossary] Percent
change Source: Central Bank Latest actual data: FY2021/22 Base year:
FY1999/2000 Methodology used to derive volumes: Deflation by survey-based price
indexes. Volumes are computed from current price data deflated by WEO price indexes
and National Statistical Office price indexes. Formula used to derive volumes:
Laspeyres-type Chain-weighted: No Trade System: General trade Excluded items in
trade: In transit; Oil coverage: Primary or unrefined products; Secondary or
refined products; Valuation of exports: Free on board (FOB) Valuation of imports:
Cost, insurance, freight (CIF) Primary domestic currency: Indian rupee Data last
updated: 03/2023 20.391 9.610 7.500 5.431 5.500 5.500 5.500 5.500 2022
534 IND TMG_RPCH India Volume of Imports of goods Percent change of volume
of imports of goods refers to the aggregate change in the quantities of imports of
goods whose characteristics are unchanged. The goods and their prices are held
constant, therefore changes are due to changes in quantities only. [Export and
Import Price Index Manual: Theory and Practice, Glossary] Percent change
Source: Central Bank Latest actual data: FY2021/22 Base year: FY1999/2000
Methodology used to derive volumes: Deflation by survey-based price indexes.
Volumes are computed from current price data deflated by WEO price indexes and
National Statistical Office price indexes. Formula used to derive volumes:
Laspeyres-type Chain-weighted: No Trade System: General trade Excluded items in
trade: In transit; Oil coverage: Primary or unrefined products; Secondary or
refined products; Valuation of exports: Free on board (FOB) Valuation of imports:
Cost, insurance, freight (CIF) Primary domestic currency: Indian rupee Data last
updated: 03/2023 20.980 7.000 7.500 5.400 5.500 5.500 5.500 5.500 2022
534 IND TX_RPCH India Volume of exports of goods and services Percent
change of volume of exports refers to the aggregate change in the quantities of
total exports whose characteristics are unchanged. The goods and services and their
prices are held constant, therefore changes are due to changes in quantities only.
[Export and Import Price Index Manual: Theory and Practice, Glossary] Percent
change Source: Central Bank Latest actual data: FY2021/22 Base year:
FY1999/2000 Methodology used to derive volumes: Deflation by survey-based price
indexes. Volumes are computed from current price data deflated by WEO price indexes
and National Statistical Office price indexes. Formula used to derive volumes:
Laspeyres-type Chain-weighted: No Trade System: General trade Excluded items in
trade: In transit; Oil coverage: Primary or unrefined products; Secondary or
refined products; Valuation of exports: Free on board (FOB) Valuation of imports:
Cost, insurance, freight (CIF) Primary domestic currency: Indian rupee Data last
updated: 03/2023 20.087 9.388 3.734 4.723 4.853 4.402 4.412 4.393 2022
534 IND TXG_RPCH India Volume of exports of goods Percent change of volume
of exports of goods refers to the aggregate change in the quantities of exports of
goods whose characteristics are unchanged. The goods and their prices are held
constant, therefore changes are due to changes in quantities only. [Export and
Import Price Index Manual: Theory and Practice, Glossary] Percent change
Source: Central Bank Latest actual data: FY2021/22 Base year: FY1999/2000
Methodology used to derive volumes: Deflation by survey-based price indexes.
Volumes are computed from current price data deflated by WEO price indexes and
National Statistical Office price indexes. Formula used to derive volumes:
Laspeyres-type Chain-weighted: No Trade System: General trade Excluded items in
trade: In transit; Oil coverage: Primary or unrefined products; Secondary or
refined products; Valuation of exports: Free on board (FOB) Valuation of imports:
Cost, insurance, freight (CIF) Primary domestic currency: Indian rupee Data last
updated: 03/2023 22.381 3.000 1.574 3.454 3.685 3.778 3.791 3.747 2022
534 IND LP India Population For census purposes, the total population of
the country consists of all persons falling within the scope of the census. In the
broadest sense, the total may comprise either all usual residents of the country or
all persons present in the country at the time of the census. [Principles and
Recommendations for Population and Housing Censuses, Revision 1, paragraph 2.42]
Persons Millions Source: National Statistics Office Latest actual
data: FY2012/13 Primary domestic currency: Indian rupee Data last updated: 03/2023
1,409.951 1,423.331 1,436.510 1,449.462 1,462.167 1,474.610
1,486.783 1,498.666 2013
534 IND GGR India General government revenue Revenue consists of taxes,
social contributions, grants receivable, and other revenue. Revenue increases
government's net worth, which is the difference between its assets and liabilities
(GFSM 2001, paragraph 4.20). Note: Transactions that merely change the composition
of the balance sheet do not change the net worth position, for example, proceeds
from sales of nonfinancial and financial assets or incurrence of liabilities.
National currency Billions Source: Ministry of Finance or Treasury. and
IMF staff calculations Latest actual data: FY2020/21 Fiscal assumptions:
Projections are based on available information on the authorities’ fiscal plans,
with adjustments for the IMF staff’s assumptions. Subnational data are incorporated
with a lag of up to one year; general government data are thus finalized well after
central government data. IMF and Indian presentations differ, particularly
regarding disinvestment and license-auction proceeds, net versus gross recording of
revenues in certain minor categories, and some public sector lending. Starting with
FY2020/21 data, expenditure also includes the off-budget component of food
subsidies, consistent with the revised treatment of food subsidies in the budget.
The IMF staff adjusts expenditure to take out payments for previous years’ food
subsidies, which are included as expenditure in budget estimates for FY2020/21.
Reporting in calendar year: No. Fiscal data are mapped to calendar year as follows:
FY(t/t+1) = CY(t). Start/end months of reporting year: April/March. The original
data from the authority is on FY (Apr/Mar) basis. GFS Manual used: Government
Finance Statistics Manual (GFSM) 2001. Authority reported in GFSM 1986, staffs
converted to GFSM 2001 Basis of recording: Cash General government includes:
Central Government; State Government;. This is according to the authorities'
account standards. Valuation of public debt: Nominal value Instruments included in
gross and net debt: Securities Other than Shares; Loans; Other Primary domestic
currency: Indian rupee Data last updated: 03/2023 46,190.513 52,276.945
58,285.519 65,788.718 73,571.645 82,024.827 91,264.925 101,526.315 2021
534 IND GGR_NGDP India General government revenue Revenue consists of
taxes, social contributions, grants receivable, and other revenue. Revenue
increases government's net worth, which is the difference between its assets and
liabilities (GFSM 2001, paragraph 4.20). Note: Transactions that merely change the
composition of the balance sheet do not change the net worth position, for example,
proceeds from sales of nonfinancial and financial assets or incurrence of
liabilities. Percent of GDP See notes for: General government
revenue (National currency). 19.680 19.201 19.105 19.398 19.589
19.746 19.896 20.039 2021
534 IND GGX India General government total expenditure Total expenditure
consists of total expense and the net acquisition of nonfinancial assets. Note:
Apart from being on an accrual basis, total expenditure differs from the GFSM 1986
definition of total expenditure in the sense that it also takes the disposals of
nonfinancial assets into account. National currency Billions Source: Ministry
of Finance or Treasury. and IMF staff calculations Latest actual data: FY2020/21
Fiscal assumptions: Projections are based on available information on the
authorities’ fiscal plans, with adjustments for the IMF staff’s assumptions.
Subnational data are incorporated with a lag of up to one year; general government
data are thus finalized well after central government data. IMF and Indian
presentations differ, particularly regarding disinvestment and license-auction
proceeds, net versus gross recording of revenues in certain minor categories, and
some public sector lending. Starting with FY2020/21 data, expenditure also includes
the off-budget component of food subsidies, consistent with the revised treatment
of food subsidies in the budget. The IMF staff adjusts expenditure to take out
payments for previous years’ food subsidies, which are included as expenditure in
budget estimates for FY2020/21. Reporting in calendar year: No. Fiscal data are
mapped to calendar year as follows: FY(t/t+1) = CY(t). Start/end months of
reporting year: April/March. The original data from the authority is on FY
(Apr/Mar) basis. GFS Manual used: Government Finance Statistics Manual (GFSM) 2001.
Authority reported in GFSM 1986, staffs converted to GFSM 2001 Basis of recording:
Cash General government includes: Central Government; State Government;. This is
according to the authorities' account standards. Valuation of public debt: Nominal
value Instruments included in gross and net debt: Securities Other than Shares;
Loans; Other Primary domestic currency: Indian rupee Data last updated: 03/2023
68,829.841 78,400.159 85,423.357 94,072.694 103,406.655 114,177.021
126,535.299 139,967.744 2021
534 IND GGX_NGDP India General government total expenditure Total
expenditure consists of total expense and the net acquisition of nonfinancial
assets. Note: Apart from being on an accrual basis, total expenditure differs from
the GFSM 1986 definition of total expenditure in the sense that it also takes the
disposals of nonfinancial assets into account. Percent of GDP See notes
for: General government total expenditure (National currency). 29.325 28.795
28.001 27.738 27.533 27.487 27.585 27.627 2021
534 IND GGXCNL India General government net lending/borrowing Net lending
(+)/ borrowing (-) is calculated as revenue minus total expenditure. This is a core
GFS balance that measures the extent to which general government is either putting
financial resources at the disposal of other sectors in the economy and
nonresidents (net lending), or utilizing the financial resources generated by other
sectors and nonresidents (net borrowing). This balance may be viewed as an
indicator of the financial impact of general government activity on the rest of the
economy and nonresidents (GFSM 2001, paragraph 4.17). Note: Net lending
(+)/borrowing (-) is also equal to net acquisition of financial assets minus net
incurrence of liabilities. National currency Billions Source: Ministry of
Finance or Treasury. and IMF staff calculations Latest actual data: FY2020/21
Fiscal assumptions: Projections are based on available information on the
authorities’ fiscal plans, with adjustments for the IMF staff’s assumptions.
Subnational data are incorporated with a lag of up to one year; general government
data are thus finalized well after central government data. IMF and Indian
presentations differ, particularly regarding disinvestment and license-auction
proceeds, net versus gross recording of revenues in certain minor categories, and
some public sector lending. Starting with FY2020/21 data, expenditure also includes
the off-budget component of food subsidies, consistent with the revised treatment
of food subsidies in the budget. The IMF staff adjusts expenditure to take out
payments for previous years’ food subsidies, which are included as expenditure in
budget estimates for FY2020/21. Reporting in calendar year: No. Fiscal data are
mapped to calendar year as follows: FY(t/t+1) = CY(t). Start/end months of
reporting year: April/March. The original data from the authority is on FY
(Apr/Mar) basis. GFS Manual used: Government Finance Statistics Manual (GFSM) 2001.
Authority reported in GFSM 1986, staffs converted to GFSM 2001 Basis of recording:
Cash General government includes: Central Government; State Government;. This is
according to the authorities' account standards. Valuation of public debt: Nominal
value Instruments included in gross and net debt: Securities Other than Shares;
Loans; Other Primary domestic currency: Indian rupee Data last updated: 03/2023
-22,639.328 -26,123.213 -27,137.838 -28,283.976 -29,835.009 -32,152.194 -
35,270.374 -38,441.429 2021
534 IND GGXCNL_NGDP India General government net lending/borrowing Net lending
(+)/ borrowing (-) is calculated as revenue minus total expenditure. This is a core
GFS balance that measures the extent to which general government is either putting
financial resources at the disposal of other sectors in the economy and
nonresidents (net lending), or utilizing the financial resources generated by other
sectors and nonresidents (net borrowing). This balance may be viewed as an
indicator of the financial impact of general government activity on the rest of the
economy and nonresidents (GFSM 2001, paragraph 4.17). Note: Net lending
(+)/borrowing (-) is also equal to net acquisition of financial assets minus net
incurrence of liabilities. Percent of GDP See notes for: General
government net lending/borrowing (National currency). -9.646 -9.595 -8.895
-8.340 -7.944 -7.740 -7.689 -7.588 2021
534 IND GGSB India General government structural balance The structural
budget balance refers to the general government cyclically adjusted balance
adjusted for nonstructural elements beyond the economic cycle. These include
temporary financial sector and asset price movements as well as one-off, or
temporary, revenue or expenditure items. The cyclically adjusted balance is the
fiscal balance adjusted for the effects of the economic cycle; see, for example, A.
Fedelino. A. Ivanova and M. Horton "Computing Cyclically Adjusted Balances and
Automatic Stabilizers" IMF Technical Guidance Note No. 5,
http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. National currency
Billions Source: Ministry of Finance or Treasury. and IMF staff
calculations Latest actual data: FY2020/21 Fiscal assumptions: Projections are
based on available information on the authorities’ fiscal plans, with adjustments
for the IMF staff’s assumptions. Subnational data are incorporated with a lag of up
to one year; general government data are thus finalized well after central
government data. IMF and Indian presentations differ, particularly regarding
disinvestment and license-auction proceeds, net versus gross recording of revenues
in certain minor categories, and some public sector lending. Starting with
FY2020/21 data, expenditure also includes the off-budget component of food
subsidies, consistent with the revised treatment of food subsidies in the budget.
The IMF staff adjusts expenditure to take out payments for previous years’ food
subsidies, which are included as expenditure in budget estimates for FY2020/21.
Reporting in calendar year: No. Fiscal data are mapped to calendar year as follows:
FY(t/t+1) = CY(t). Start/end months of reporting year: April/March. The original
data from the authority is on FY (Apr/Mar) basis. GFS Manual used: Government
Finance Statistics Manual (GFSM) 2001. Authority reported in GFSM 1986, staffs
converted to GFSM 2001 Basis of recording: Cash General government includes:
Central Government; State Government;. This is according to the authorities'
account standards. Valuation of public debt: Nominal value Instruments included in
gross and net debt: Securities Other than Shares; Loans; Other Primary domestic
currency: Indian rupee Data last updated: 03/2023 -21,003.473 -26,058.125 -
27,084.970 -28,172.352 -29,891.400 -32,237.073 -35,366.714 -38,589.221 2021
534 IND GGSB_NPGDP India General government structural balance The
structural budget balance refers to the general government cyclically adjusted
balance adjusted for nonstructural elements beyond the economic cycle. These
include temporary financial sector and asset price movements as well as one-off, or
temporary, revenue or expenditure items. The cyclically adjusted balance is the
fiscal balance adjusted for the effects of the economic cycle; see, for example, A.
Fedelino. A. Ivanova and M. Horton "Computing Cyclically Adjusted Balances and
Automatic Stabilizers" IMF Technical Guidance Note No. 5,
http://www.imf.org/external/pubs/ft/tnm/2009/tnm0905.pdf. Percent of potential GDP
See notes for: General government structural balance (National
currency). -8.766 -9.567 -8.873 -8.296 -7.965 -7.768
 -7.718 -7.628 2021
534 IND GGXONLB India General government primary net lending/borrowing
Primary net lending/borrowing is net lending (+)/borrowing (-) plus net
interest payable/paid (interest expense minus interest revenue). National currency
Billions Source: Ministry of Finance or Treasury. and IMF staff
calculations Latest actual data: FY2020/21 Fiscal assumptions: Projections are
based on available information on the authorities’ fiscal plans, with adjustments
for the IMF staff’s assumptions. Subnational data are incorporated with a lag of up
to one year; general government data are thus finalized well after central
government data. IMF and Indian presentations differ, particularly regarding
disinvestment and license-auction proceeds, net versus gross recording of revenues
in certain minor categories, and some public sector lending. Starting with
FY2020/21 data, expenditure also includes the off-budget component of food
subsidies, consistent with the revised treatment of food subsidies in the budget.
The IMF staff adjusts expenditure to take out payments for previous years’ food
subsidies, which are included as expenditure in budget estimates for FY2020/21.
Reporting in calendar year: No. Fiscal data are mapped to calendar year as follows:
FY(t/t+1) = CY(t). Start/end months of reporting year: April/March. The original
data from the authority is on FY (Apr/Mar) basis. GFS Manual used: Government
Finance Statistics Manual (GFSM) 2001. Authority reported in GFSM 1986, staffs
converted to GFSM 2001 Basis of recording: Cash General government includes:
Central Government; State Government;. This is according to the authorities'
account standards. Valuation of public debt: Nominal value Instruments included in
gross and net debt: Securities Other than Shares; Loans; Other Primary domestic
currency: Indian rupee Data last updated: 03/2023 -10,528.228 -12,030.674 -
10,913.510 -9,803.547 -9,261.360 -9,277.553 -9,708.475 -10,114.927 2021
534 IND GGXONLB_NGDP India General government primary net
lending/borrowing Primary net lending/borrowing is net lending (+)/borrowing (-)
plus net interest payable/paid (interest expense minus interest revenue).
Percent of GDP See notes for: General government primary net
lending/borrowing (National currency). -4.486 -4.419 -3.577 -2.891
-2.466 -2.233 -2.116 -1.997 2021
534 IND GGXWDG India General government gross debt Gross debt consists of
all liabilities that require payment or payments of interest and/or principal by
the debtor to the creditor at a date or dates in the future. This includes debt
liabilities in the form of SDRs, currency and deposits, debt securities, loans,
insurance, pensions and standardized guarantee schemes, and other accounts payable.
Thus, all liabilities in the GFSM 2001 system are debt, except for equity and
investment fund shares and financial derivatives and employee stock options. Debt
can be valued at current market, nominal, or face values (GFSM 2001, paragraph
7.110). National currency Billions Source: Ministry of Finance or Treasury.
and IMF staff calculations Latest actual data: FY2020/21 Fiscal assumptions:
Projections are based on available information on the authorities’ fiscal plans,
with adjustments for the IMF staff’s assumptions. Subnational data are incorporated
with a lag of up to one year; general government data are thus finalized well after
central government data. IMF and Indian presentations differ, particularly
regarding disinvestment and license-auction proceeds, net versus gross recording of
revenues in certain minor categories, and some public sector lending. Starting with
FY2020/21 data, expenditure also includes the off-budget component of food
subsidies, consistent with the revised treatment of food subsidies in the budget.
The IMF staff adjusts expenditure to take out payments for previous years’ food
subsidies, which are included as expenditure in budget estimates for FY2020/21.
Reporting in calendar year: No. Fiscal data are mapped to calendar year as follows:
FY(t/t+1) = CY(t). Start/end months of reporting year: April/March. The original
data from the authority is on FY (Apr/Mar) basis. GFS Manual used: Government
Finance Statistics Manual (GFSM) 2001. Authority reported in GFSM 1986, staffs
converted to GFSM 2001 Basis of recording: Cash General government includes:
Central Government; State Government;. This is according to the authorities'
account standards. Valuation of public debt: Nominal value Instruments included in
gross and net debt: Securities Other than Shares; Loans; Other Primary domestic
currency: Indian rupee Data last updated: 03/2023 198,762.133 226,324.591
253,973.497 283,924.396 314,807.722 347,900.323 384,165.655 423,355.936 2021
534 IND GGXWDG_NGDP India General government gross debt Gross debt consists of
all liabilities that require payment or payments of interest and/or principal by
the debtor to the creditor at a date or dates in the future. This includes debt
liabilities in the form of SDRs, currency and deposits, debt securities, loans,
insurance, pensions and standardized guarantee schemes, and other accounts payable.
Thus, all liabilities in the GFSM 2001 system are debt, except for equity and
investment fund shares and financial derivatives and employee stock options. Debt
can be valued at current market, nominal, or face values (GFSM 2001, paragraph
7.110). Percent of GDP See notes for: General government gross debt
(National currency). 84.684 83.126 83.249 83.716 83.822
83.752 83.748 83.563 2021
534 IND NGDP_FY India Gross domestic product corresponding to fiscal year,
current prices Gross domestic product corresponding to fiscal year is the
country's GDP based on the same period during the year as their fiscal data. In the
case of countries whose fiscal data are based on a fiscal calendar (e.g., July to
June), this series would be the country's GDP over that same period. For countries
whose fiscal data are based on a calendar year (i.e., January to December), this
series will be the same as their GDP in current prices. National currency
Billions Source: Ministry of Finance or Treasury. and IMF staff
calculations Latest actual data: FY2020/21 Fiscal assumptions: Projections are
based on available information on the authorities’ fiscal plans, with adjustments
for the IMF staff’s assumptions. Subnational data are incorporated with a lag of up
to one year; general government data are thus finalized well after central
government data. IMF and Indian presentations differ, particularly regarding
disinvestment and license-auction proceeds, net versus gross recording of revenues
in certain minor categories, and some public sector lending. Starting with
FY2020/21 data, expenditure also includes the off-budget component of food
subsidies, consistent with the revised treatment of food subsidies in the budget.
The IMF staff adjusts expenditure to take out payments for previous years’ food
subsidies, which are included as expenditure in budget estimates for FY2020/21.
Reporting in calendar year: No. Fiscal data are mapped to calendar year as follows:
FY(t/t+1) = CY(t). Start/end months of reporting year: April/March. The original
data from the authority is on FY (Apr/Mar) basis. GFS Manual used: Government
Finance Statistics Manual (GFSM) 2001. Authority reported in GFSM 1986, staffs
converted to GFSM 2001 Basis of recording: Cash General government includes:
Central Government; State Government;. This is according to the authorities'
account standards. Valuation of public debt: Nominal value Instruments included in
gross and net debt: Securities Other than Shares; Loans; Other Primary domestic
currency: Indian rupee Data last updated: 03/2023 234,710.100 272,266.797
305,077.058 339,153.464 375,567.949 415,392.672 458,717.577 506,632.882 2021
534 IND BCA India Current account balance Current account is all transactions
other than those in financial and capital items. The major classifications are
goods and services, income and current transfers. The focus of the BOP is on
transactions (between an economy and the rest of the world) in goods, services, and
income. U.S. dollars Billions Source: Central Bank Latest actual data:
FY2021/22 BOP Manual used: Balance of Payments and International Investment
Position Manual, sixth edition (BPM6). Data converted from BPM5 to BPM6 by staff.
Primary domestic currency: Indian rupee Data last updated: 03/2023 -38.692
-88.425 -81.590 -89.286 -98.294 -112.956 -125.902 -
140.980 2022
534 IND BCA_NGDPD India Current account balance Current account is all
transactions other than those in financial and capital items. The major
classifications are goods and services, income and current transfers. The focus of
the BOP is on transactions (between an economy and the rest of the world) in goods,
services, and income. Percent of GDP See notes for: Gross domestic
product, current prices (National currency) Current account balance (U.S. dollars).
 -1.228 -2.611 -2.183 -2.198 -2.232 -2.370 -2.443
-2.529 2022

International Monetary Fund, World Economic Outlook Database, April 2023