Indian economy is really booming! Stats say so

Every month, the Department of Economic Affairs at the Union ministry of finance releases a report that details the key economic indicators of various sectors in India.

So are the economic indicators better this time, compared to the last year?

Here is a comparison as to how the Indian economy fared in key sectors in June 2006 and June 2005.

Rainfall

June 2006: The monsoon season rainfall from June l, 2006 to July 5, 2006 was normal/excess in 69 per cent of meteorological sub-divisions.

June 2005: The monsoon season rainfall from June l, 2005 to June 22, 2005 was normal/excess in 22 per cent of meteorological sub-divisions.

Foodgrain stock

June 2006: Foodgrain stocks were 21.82 million tonne as on May 1, 2006.

June 2005: Foodgrain stocks were 28.08 million tonne as on May 1, 2005.

Industrial growth

June 2006: Overall industrial growth was 9.8 per cent during April-May, 2006 as compared with 9.5 per cent in April-May, 2005.

June 2005: Overall industrial growth was 8.8 per cent during April, 2005, while it stood at 8.9 per cent in April, 2004.

Infrastructure growth

June 2006: Core infrastructure sectors achieved an average growth rate of 6.7 per cent during April 2006 as compared with 6.0 per cent in April, 2005.

June 2005: Core infrastructure sectors achieved an average growth rate of 4.9 per cent during April-May, 2005 as compared with 8.2 per cent in April-May, 2004.

Broad money growth

June 2006: Broad money growth (year-on-year) was 18.1 per cent as on June 23, 2006 as compared with 13.7 per cent last year.

June 2005: Broad money (M3) growth (year-on-year) was 14.2 per cent (net of conversion, 14.1 per cent) as on June 10, 2005 as compared with 15.3 per cent last year.

(Broad money is a measure of the amount of money in circulation, consisting of currency held by the public, savings, deposits, balances in money market mutual funds, etc).

Exports, imports

June 2006: Exports grew by 32.4 per cent in dollar terms during April-June, 2006. Imports increased by 24.5 per cent in April-June, 2006.

June 2005: Exports grew by 19.8 per cent in dollar terms during April-May, 2005 as compared with 32.8 per cent in corresponding period last year. Imports grew by 40.9 per cent in April-May, 2005 as compared with 28.3 per cent in April-May, 2004.

Foreign exchange reserves

June 2006: Forex reserves, excluding gold and SDRs -- special drawing rights, stood at $155.97 billion at the end of June 2006.

June 2005: Forex reserves, excluding gold and SDRs, stood at $132.93 billion at the end of May 2005.

Rupee

June 2006: Rupee appreciated against Japanese Yen and depreciated against US Dollar, Pound Sterling and Euro in June 2006.

June 2005: Rupee appreciated against US Dollar, Pound Sterling and Euro and was stable against Japanese Yen in May 2005.

Inflation

June 2006: The annual inflation rate in terms of WPI (Base 1993-94=100) was 4.96 per cent for the week ended July 1, 2006 as compared with 4.14 per cent a year ago.

June 2005: The annual inflation rate in terms of WPI (Base 1993-94=100) was 4.10 per cent for the week ended June 18, 2005 as compared with 6.62 per cent a year ago

Tax revenue

June 2006: Tax revenue (net to Centre) during April-May, 2006 was higher by 74.2 per cent compared with an increase of 83.5 per cent in corresponding period last year.

June 2005: Tax revenue (net to Centre) during 2004-05 (provisional) over 2003-04 (actual) was higher by 20.3 per cent.

Fiscal deficit

June 2006: In terms of value, fiscal deficit during April-May, 2006 was higher by 51.4 per cent over corresponding period last year.

June 2005: In terms of value, Fiscal deficit during 2004-05 (provisional) was higher by 3.8 per cent over 2003-04 (actual).

Revenue deficit

June 2006: In terms of value, revenue deficit during April-May, 2006 was higher by 55.4 per cent over corresponding period last year.

June 2005: In terms of value, revenue deficit during 2004-05 (provisional) declined by 19 per cent as compared to 2003-04 (actual).