India 2018

228 India 2018
the average monthly exchange rate of rupee appreciated by 4.0 percent to
` 64.36 per US dollar as compared to yearly average of ` 66.96 per US dollar in
2016-17.
External Debt
External debt stock stood at US$ 471.9 billion at end of March 2017 recording a
decline of 2.7 per cent over the level at end of March 2016. Long-term debt
accounted for 81.4 per cent of total external debt at end of March 2017 (82.8 per
cent at end of March 2016). Short-term external debt was US$ 88.0 billion at end
of March 2017, as compared to US$ 83.4 billion at end of March 2016. The share
of commercial borrowings stood highest at 36.7 per cent followed by NRI
deposits (24.8 per cent) and short term trade credit (18.3 per cent) at end of
March 2017. Sovereign debt stood at US$ 95.8 billion, accounting for 20.3 per
cent of the total external debt as compared to 19.3 per cent at end of March
2016. The US dollar denominated debt continued to be the largest component
of India's external debt with a share of 52.1 per cent at end of March 2017,
followed by Indian rupee (33.6 per cent), SDR (5.8 per cent), Japanese Yen (4.6
per cent) and Euro (2.9 per cent). India's foreign exchange reserves provided a
cover of 78.4 per cent to the total external debt stock at the end of March 2017 as
compared to 74.3 per cent at end of March 2016.
Agriculture and Food Management
As per the Provisional Estimates of Annual National Income, 2016-17 and
Quarterly Estimates of Gross Domestic Product for the fourth quarter (Q4) of
2016-17 released by Central Statistics Office on 31.05.2017, the growth rate of
GVA at constant (2011-12) basic prices for agriculture and allied sector for the
years 2016-17 and 2015-16 were estimated to be 4.9 per cent and 0.7 per cent
respectively.
The cumulative South West Monsoon rainfall received for the country as a
whole, during the period 1 st June - 24 th August 2017, was 6 per cent below normal.
The actual rainfall received during this period has been 626.1 mm as against
the normal at 663.5 mm. Out of the total 36 meteorological subdivisions, 5
subdivisions received excess rainfall, 22 subdivisions received normal rainfall,
and 9 subdivisions received deficient rainfall.
Stocks of foodgrains (rice and wheat) held by FCI as on August 1, 2017 was
53.8 million tonnes, compared to 49.8 million tonnes as on August 1, 2016.
Industry and Infrastructure
The industrial sector accounting for 31.1 per cent of the total Gross Value Added
(GVA) in 2016-17, is an important contributor to the growth of Indian economy.
As per the latest provisional estimates of annual national income, 2016-17, the
growth of industrial sector comprising mining, manufacturing, electricity and
construction was 5.6 per cent in 2016-17 as compared to 8.8 per cent in 2015-16.
The manufacturing sector attained 7.9 per cent growth in 2016-17 as against
10.8 per cent in 2015-16. The Government took a number of steps to accelerate