Statistical outline of India 2008-09

In 2008-09 India's real GDP at factor cost grew by 6.7%. This was no mean achievement in a year marked by the international financial meltdown, unusual volatility in commodity prices and a sharp deterioration in world. trade flows. International private capital flows not only dried up towards the second half of the year, there were, in fact, net capital outflows from the emerging economies. All these would have been enough to overcome the growth process of any economy; the fact that India managed to still grow at a relatively robust rate is a tribute to the strength of its domestic economy.

The good news is that the Indian economy's savings and investment rates remain well above the threshold figure of 30% of GDP, the economy's tax:GDP ratio has improved significantly over the last five years, India's foreign exchange reserves are adequate, inflation is within manageable limits, and the Indian economy could take the unfavourable developments in the global economy in its stride even though economic reforms remained on the back burner. On the flip side, however, food prices are firming up and the situation can get aggravated if the monsoon rainfall is inadequate in terms of quantity or spread, and the burgeoning fiscal deficit continues to be an area of concern. Still, with policies focused on better access to education, health, infrastructure, markets and capital, the country can unleash its huge human resource and entrepreneurial potential for taking it to a higher growth trajectory.

The Statistical Outline of India (S.O.) has always tried to be pro-active in terms of anticipating reader requirements. In view of the increasing interest in, and relevance of, international trade negotiations, the section on the WTO, FTAs and RTAS has been restructured. Further, given the importance of 'new economy' areas like IT, telecom, entertainment, etc. for the Indian economy, a separate section on the ICE sector has been added. Similarly, the sections on infrastructure and social sector and levels of living have been redesigned, given the emphasis on inclusiveness and infrastructure development. Information on climate change has been added.