image

Monthly Economic Report for February 2013

Ministry of Finance

Department of Economic Affairs

Economic Division

4(3)/Ec. Dn. /2012

MONTHLY ECONOMIC REPORT

FEBRUARY 2013

HIGHLIGHTS

  • The overall growth of GDP at factor cost at constant prices, as per Advance Estimates, is estimated at 5.0 per cent in 2012-13 as compared to the growth of 6.2 per cent during 2011-12 (First Revised Estimates). The growth rate for the first three quarters of the current financial year stands at 5.0 per cent.
  • The cumulative rainfall received for the country as a whole, during the period 1st 13th March 2013, has been 80 per cent below normal.
  • Food grain (rice and wheat) stocks held by FCI and State agencies were 62.87 million tonnes as on March 1, 2013.
  • Overall growth in the Index of Industrial Production (IIP) was 2.4 per cent during January 2013 as compared to 1.0 per cent in January 2012. During April- January 2012-13, IIP growth was 1.0 per cent as compared to 3.4 per cent in April- January 2011-12.
  • Eight core industries registered a growth of 3.9 per cent in January 2013 as compared to growth of 2.2 per cent in January 2012. During April- January 2012-13, these sectors grew by 3.2 per cent as compared to 5.0 per cent during April- January 2011-12.
  • Broad money (M3) in the FY 2012-13 (up to February 22, 2013) increased by 10.8 per cent as compared to 11.5 per cent during the corresponding period of the last year. The year-on-year growth, as on February 22, 2013 was 12.4 per cent as compared to 13.9 per cent in the previous year.
  • Exports and imports, in US dollar terms increased by 4.2 per cent and 2.7 per cent¬†respectively , during February 2013 over February 2012. The cumulative growths in exports and imports during 2012-13 (April-February) were (-) 4.0 per cent and 0.3 per cent respectively.
  • Foreign Currency Assets stood at US$ 258.7 billion at end February 2013 as compared to US$ 260.9 billion in end February 2012.
  • Rupee appreciated against US dollar, Pound sterling, Japanese yen and Euro in the month of February 2013 over January 2013.
  • The WPI inflation for all commodities for the month of February 2013 has increased to 6.84 per cent from 6.62 per cent in the previous month.
  • Gross tax revenue at Rs. 746,555 crore during April-January 2012-13 registered a growth of 14.9 per cent year-on- year.
  • Tax revenue (net to Centre) at Rs. 527,822 crore during April- January 2012-13 registered a growth of 15.1 per cent.
  • As a proportion of budget estimate, fiscal deficit during AprilJanuary 2012-13 was 90.7 per cent and revenue deficit was 100.5 per cent.

(RANGEET GHOSH)
Assistant Director

Tags: April-January 2012-13Economic growthFiscal yearGDPGross domestic productIndex of Industrial ProductionJanuary 2012Monthly Economic Report

profile image

About eMinds Legal

eMinds Legal

eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.

Corporate Law Referencer

Recent Articles

Recent Legal updates

Recent Gst Updates