The Pre-Budget Economic Landscape
Government's
income is
buoyant...
Years
Revenue receipts
1996-97
126.3
1998-99
149.5
2000-01
203.7*
*
Estimates Figures in Rs '000 crore
But is still
way short
of expenditure...
Years
Revenue expenditure
1996-97
158.9
1998-99
217.4
2000-01
281.1*
*
Estimates Figures in Rs '000 crore
Forcing large
borrowings and
interest payments...
Years
Interest Payments*
1996-97
47%
1998-99
49%
2000-01
50%
* As percentage of government income
...and increasing
the country's
debt burden
Years
Per capita debt (Rs)
1996-97
7,112
1998-99
8,935
1999-2000
10,304
Foreign investment
remains modest
Years
FDI inflows
1996-97
2,841
1998-99
2,480
2000-01
1,466*
*
Till Nov. 2000 Figures in $ million
Industrial growth
is stagnant
Years
% annual growth
1996-97
7.5
1997-98
5.0
1998-99
6.6
1999-2000
6.4
2000-01
6.0*
*
CSO estimates
Service growth
is cooling down
Years
% annual growth
1996-97
7.1
1997-98
9.0
1998-99
8.2
1999-2000
9.6
2000-01
8.3*
* CSO estimates
Exports are the
brightest spot in
the economy
Years
% annual growth
1996-97
5.2
1997-98
4.6
1998-99
-5.2
1999-2000
13.3
2000-01
17.8
* Between April-December 2000
Agriculture output
is faltering
Years
% annual growth
1996-97
9.6
1997-98
-1.9
1998-99
7.1
1999-2000
0.7
2000-01
0.9*
*
CSO estimates
Foreign currency reserves are bulging
Years
Forex reserves in $ billion
1996-97
22.4
1998-99
29.5
2000-01
41.7*
*
On Feb 19, 2001
GDP growth is not picking
up steam
Years
% annual growth in GDP
1996-97
7.5
1997-98
5.0
1998-99
6.6
1999-2000
6.4
2000-01
6.0*
* CSO estimates
Wholesale prices flare while retail prices remain low
% annual rise in wholesale price
% annual rise in consumer
96-97............4.6
96-97.......9.4
98-99............5.9
98-99.....13.1
2000-01........82*
2000-1..3.5**
* Jan 2001
** Dec.2000
