This paper reviews economic developments in India during 1996–98. After three successive years of growth more than 7 percent, growth of slowed to an estimated 5 percent in 1997/98. The slowdown predates the Asian crisis, and its proximate causes are a decline in agricultural output and weak...

Since the global financial crisis, corporate investment has been weak in India. Sluggish corporate investment would not only moderate growth from the demand side but also constrain growth from the supply side over time. Against this background, this paper analyzes the reasons for the slowdown...

This paper empirically evaluates the operational performance of the McCallum rule, the Taylor rule and hybrid rules in India over the period 1996-2011 using quarterly data, with a view to analytically informing the conduct of monetary policy. The results show that forward-looking formulations of...

This Article IV Consultation reports that India’s growth remains relatively high, but various factors, including the unsettled global outlook and slow government decision making, have weighed on investment. Inflation has moderated, leading the Reserve Bank of India (RBI) to pause monetary...