• GDP at factor cost at constant (1999-2000) prices in Q4 of 2008-09 is estimated at Rs. 9,02,924 crore, as against Rs. 8,53,785 crore in Q4 of 2007-08, showing a growth rate of 5.8 per cent.
• The sectors which registered significant growth rates in Q4 of 2008-09 over Q4 of 2007-08 are ‘construction’ at 6.8 per cent, 'trade, hotels, transport and communication' at 6.3 per cent,’ financing, insurance, real estate and business services' at 9.5 per cent, and 'community, social and personal services' at 12.5 per cent.
• The per capita income in real terms (at 1999-2000 prices) during 2008-09 is likely to attain a level of Rs. 25,661 as compared to the Quick Estimate for the year 2007-08 of Rs.24,295. The growth rate in per capita income is estimated at 5.6 per cent during 2008-09, as against the previous year's estimate of 7.6 per cent.
• GDP at factor cost at current prices in Q4 of 2008-09 is estimated at Rs. 12,89,616 crore, as against Rs. 11,94,578 crore in Q4 of 2007-08, showing a rise of 8.0 per cent.
• The per capita income at current prices during 2008-09 is estimated to attain a level of
  Rs. 37,490 as compared to the Quick Estimates for the year 2007-08 of Rs. 33,283, showing a rise of 12.6 per cent.
• 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.
• 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
• 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.
  
  

Agriculture

• Sharad Pawar took charge as Minister of Agriculture, Consumer Affairs, Food and Public Distribution, beginning his tenure for the second time. He takes over the reigns of the agriculture affairs when the country has harvested a bumper foodgrain production and the central pool are overflowing with wheat and rice. India is estimated to have harvested a record over 99 million tonnes of rice in 2008-09 season. Wheat output is pegged at 77.63 million tonnes, which is slightly less than last year's record 78.57 million tonnes.
• India became the fourth largest adopter of biotech crop in the world, displacing Canada, in 2008 and planting Bt cotton on 7.6 million hectares (82% of the total cotton are in the country), according to the International Service for the Acquisition of Agri-biotech Applications (ISAAA). This was almost a million and half hectares over planted area in 2007 (6.2 m ha, equivalent to 66% of the total cotton area in the country).A record five million small and resource-poor farmers planted Bt cotton in 2008, significantly up from only 3.8 m farmers in 2007, the ISAAA said.
• Spices exports during the first nine months of the current fiscal increased 15 per cent in terms of rupee value and three per cent in quantity from that of the corresponding period in 2007. Total shipments in April-December 2008 is estimated at 3,34,150 tonnes valued at Rs 3,810.95 crore ($860.40 million) as against 3,25,320 tonnes valued Rs 3,320.00 crore ($821.45 million) in the same period of the last financial year.
• Despite a global slowdown, agri and processed food exports from India may register an increase in absolute growth in the current financial year. Agricultural and Processed Food Products Export Development Authority (Apeda) feels the exports will grow in absolute terms due to higher demand from Asian and African markets that are aggressively procuring relatively cheaper products from countries such as India. This is significant at a time when other major exports are slowing down. At present, around 70% of the country's agri and processed food exports are to developing countries in the Middle East, Asia, Africa and South America. With the global downturn hitting the profitability of supermarkets in these countries, they are now looking at less expensive products.
• Crop production is expected to rise by 1.7 per cent during FY 10, the Centre for Monitoring Indian Economy (CMIE) has said. "Foodgrain production is expected to increase by 1.1 per cent. Of this, wheat production is projected to remain at the same level of 80-million tonnes as estimated for FY 09," a CMIE report said. Rice production is projected to increase by 1.1 per cent to 98.8-million tonnes. Production of coarse cereals and pulses is also expected to rise in FY 10. Growth in non-food crop production is placed at 2.4 per cent during FY 10. Higher sugarcane and oilseeds production would drive growth even as cotton production is expected to fall.
• Indian Farmers Fertiliser Co-operative (Iffco)-promoted 2,800 acre agro park project has drawn interests of investors from the Netherlands, Israel and Italy, a company official said. The domestic fertiliser co-operative major had organised an international investors' meet to attract global investors for its Kisan SEZ coming up in Nellore in Andhra Pradesh.
  

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Capital Market

• For the financial year ended March 2009, total flotations stood at Rs 1 lakh crore, a 52.4 per cent. Once again money raised via the domestic issuance of debt and equity out weighed money collected from overseas flotations
• March 2009 witnessed a strong recovery on the bourses. The economy seemed to be getting back into its faster growth lane with major sectors such as cement, steel, automobiles and tourism showing a recovery. BSE Sensex rose by 9.2 per cent during the month. The 50 scrip NSE Nifty also staged a 9.3 per cent recovery in March 2009. Average daily trading volumes on both the BSE and NSE rose by more than 20 per cent during the month.
• Mutual funds turned buyers during March 2009 . While they sold equity worth Rs 10,147.2 crore, they purchased a higher Rs 11,910.8 crore during the month.
• In the equity markets, FIIs purchased equity to the tune of Rs 32,177.4 crore in March 2009 and sold equity worth Rs 31,908.4 crore. This is the first month of the new calendar year 2009 that FIIs equity purchases out weighed their sales.
• For the fourth consecutive month in February 2009, sales of the mutual fund industry exceeded redemptions faced by them. While sales stood at Rs 4.8 lakh crore during February 2009, redemptions stood at a lower Rs 4.5 lakh crore. The Industry's assets under management increased by 6.4 per cent in February 2009 to Rs 5.1 lakh crore compared to the previous month.
  
  

Money and Banking

• Growth in money supply (M3) remained fairly steady at around 19.6-19.7 per cent throughout the March 2009 quarter. It had grown by well over 20 per cent till June 2008
• Rs 1,22,000 crore to be pumped into the system by the Reserve Bank by way of MSS unwinding and buyback of government securities through open market operations. Centre for monitoring Indian economy (CMIE) expect foreign direct investment inflow into India to continue and to that extent it would augment money supply in the country.
• In the preceding issues of the Monthly Review of the Indian Economy, CMIE had expressed their view that growth in money supply, which had eased, was unlikely to go below the 19 per cent mark. CMIE continue to believe that growth in money supply is unlikely to ease significantly.
• In February 2009, as banks clamoured to meet year-end business targets, incremental credit amounted to a strong Rs 31,752 crore. The first half of March 2009 witnessed a credit offtake of Rs 22,423 crore. According to media reports, the spurt was mainly on increased sanctioning to sectors such as agriculture, micro and small enterprises (MSE) and to transport operators.
• According to CMIE the second half of March 2009 would report even stronger credit offtake to take the year-on-year growth number for outstanding scheduled bank credit closer to 20 per cent as on 31 March 2009.
• Deposit mobilization by banks continues at a robust pace, driven by term deposits. Term deposits continue to grow by more than 23 per cent. Banks witnessed a slight recovery in demand deposits growth.
  

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Infrastructure
The Index of Six core industries having a combined weight of 26.7 per cent in the Index of Industrial Production (IIP) with base 1993-94 stood at 251.6 (provisional) in June 2009 and registered a growth of 6.5% (provisional) compared to a growth of 5.1% in June 2008. During April-June 2009-10, six core industries registered a growth of 4.8% (provisional) as against 3.5% during the corresponding period of the previous year.


Crude Oil

Crude Oil production (weight of 4.17% in the IIP) registered a growth of 4.0% (provisional) in June 2009 compared to a growth rate of (-) 4.7% in June 2008. The Crude Oil production registered a growth of (-) 1.3 (provisional) during April-June 2009-10 compared to (-)0.1% during the same period of 2008-09.


Petroleum Refinery Products

Petroleum refinery production (weight of 2.00% in the IIP) registered a growth of (-) 3.7% (provisional) in June 2009 compared to growth of 5.6% in June 2008. The Petroleum refinery production registered a growth of (-)4.1% (provisional) during April-June 2009-10 compared to 3.3% during the same period of 2008-09.


Coal

Coal production (weight of 3.2% in the IIP) registered a growth of 14.7% (provisional) in June 2009 compared to growth rate of 6.1% in June 2008. Coal production grew by 12.7% (provisional) during April-June 2009-10 compared to an increase of 8.4% during the same period of 2008-09.


Electricity

Electricity generation (weight of 10.17% in the IIP) registered a growth of 7.0% (provisional) in June 2009 compared to a growth rate of 2.6% in June 2008. Electricity generation grew by 5.8% (provisional) during April-June 2009-10 compared to 2.0% during
the same period of 2008-09.


Cement

Cement production (weight of 1.99% in the IIP) registered a growth of 12.8% (provisional) in June 2009 compared to 6.6% in June 2008. Cement Production grew by 12.1% (provisional) during April-June 2009-10 compared to an increase of 5.8% during the same period of 2008-09.


Finished (carbon) steel

Finished (carbon) Steel production (weight of 5.13% in the IIP) registered a growth of 5.3% (provisional) in June 2009 compared to 10.4% (estimated) in June 2008. Finished (carbon) Steel production grew by 3.2% (provisional) during April-June 2009-10 compared to an increase of 4.3% during the same period of 2008-09.

N.B: Data are provisional. Revision has been made based on revised data obtained.