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India

Author

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  • Iulia Monica Oehler-Sincai

Abstract

During 2003-2014, India recorded two successive phases of economic slowdown, in 2008 and 2011-2013. They were determined by external factors such as: diminishing demand on the main export markets and the high levels of oil prices, while among the major internal factors there were: high cost of doing business, infrastructure weaknesses, energy system bottlenecks, postponement in approval and implementation of investment projects, slow pace of reforms and also systemic corruption. In 2014 it was noticed a moderate acceleration of the economic activity in India, as the new prime minister had a clear mandate for economic reforms. According to the international experts, there are necessary: the fiscal reform, decreasing energy subsidies, increasing infrastructure investments, also in agriculture, taking into account that more than half of the arable land is not irrigated. At the same time, by implementing the announced inflation targeting framework, the monetary policy will become transparent and clear and therefore consumer confidence will increase. Moreover, the implementation of the new national manufacturing policy will make possible to reach the real growth potential, offering an impetus for the whole Indian economy.

Suggested Citation

  • Iulia Monica Oehler-Sincai, 2014. "India," Conjunctura economiei mondiale / World Economic Studies, Institute for World Economy, Romanian Academy.
    • Handle: RePEc:iem:conjun:y:2014:id:2822000009580023
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    Keywords

    India; macroeconomic indicators; economic growth; inflation; unemployment; general government net lending/borrowing; gross debt; structural weaknesses;
    All these keywords.

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F44 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Business Cycles

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