This Selected Issues paper analyzes the medium-term macroeconomic outlook for India. The paper highlights that in the strong adjustment scenario, the joint effect of strong fiscal consolidation and ambitious structural reforms would bring the Indian economy onto a sustainable high growth path,...

This paper describes economic developments in India during the 1990s. Since late 1993/94, economic activity has expanded rapidly. Fiscal policy was relaxed substantially in 1993/94, a move that was only partly reversed in 1994/95. Like some other emerging markets, India experienced a surge of...

BRICs development financing flows have increased significantly and are expected to become more prominent in the post-crisis era. We investigate the potential implications on the country-allocation of loan commitments and the degree of concessionality using a panel vector autoregression model and...

This report describes recent economic developments in India. It highlights that the real GDP growth accelerated from 61⁄4 percent in 1994/95 to 7 percent in 1995/96, reflecting mainly the growing response in the industrial sector to the earlier reforms. Industrial production rose 12 percent...