MONTHLY ECONOMIC REPORT

JUNE 2010

HIGHLIGHTS

The overall growth of GDP at factor cost at constant prices, as per Revised Estimates of the CSO, was 7.4 per cent in 2009-10 representing an increase from a level of growth of 6.7 per cent during 2008-09.
The cumulative rainfall received for the country as a whole upto July 8, during the South West Monsoon (June 1-September 30), was 10 per cent less than the Long Period Average (LPA).
Food grains (rice and wheat) stocks held by FCI and State agencies were 59.94 million tonnes as on May 1, 2010.
Overall growth in the Index of Industrial Production was 11.5 per cent during May 2010 as compared to 2.1 per cent in May 2009. During April-May 2010-11, IIP growth was 14.0 per cent compared to 1.6 per cent during April-May 2009-10.
Core infrastructure-supportive sectors grew by 5.0 per cent in May 2010 as compared to the growth of 3.2 per cent in May 2009. During April-May 2010-11, these sectors grew at 5.1 per cent as compared to 3.5 per cent during April-May 2009-10.
During the financial year 2010-11 (up to June 18, 2010), broad money (M3) increased by 1.4 per cent, compared to 3.4 per cent during the corresponding period of the last year.
Exports, in US dollar terms year-on-year increased by 35.1 per cent and imports increased by 38.5 per cent, during May 2010.
Foreign Currency Assets stood at US $ 249.9 billion at end June 2010, compared to US $ 254.3 billion at end June 2009.
Rupee appreciated against Euro and depreciated against US dollar, Pound Sterling and Japanese Yen in the month of June 2010 over May 2010.
Year-on-year inflation in terms of Wholesale Price Index was 10.55 per cent for the month of June 2010 as compared to (-) 1.01 per cent in June 2009.
Tax revenue (net to Centre) during April-May, 2010 recorded a growth of 22 per cent compared to the corresponding period of 2009-10.
As a proportion of budget estimate, fiscal deficit during April-May 2010 was 26.5 per cent and revenue deficit was 29.4 per cent.