Government of India

Ministry of Finance
Department of Economic Affairs
Economic Division
8(2) /Ec Dn/ 2002

MONTHLY ECONOMIC REPORT

JULY, 2002

HIGHLIGHTS
l The Monsoon season rainfall upto July 17 , 2002 was normal/excess in 39 per cent of
meteorological sub-divisions.
l Foodgrain stocks were at 64.72 million tonnes as on June 1, 2002.
l Overall industrial growth was 3.8 per cent in April-May, 2002 as against 2.1 per
cent in April-May, 2001.
l Core infrastructure sectors achieved an average growth rate of 5.8 per cent in April-
May, 2002 as against an increase of 1.0 per cent in April-May, 2001.
l Money Supply (M3) growth was 7.8 per cent during March 31, 2002 to June 28,
2002, whereas annual growth rate for fortnight ended June 28, 2002 was 17.1 per
cent. Net RBI Credit to Government decreased by 2.8 per cent during March 31,
2002 to June 28, 2002.
l The annual inflation rate in terms of WPI (Base 1993-94) was 1.99 per cent for
week ended July 6, 2002 compared to 5.43 per cent a year ago.
l Exports increased by 10.5 per cent in dollar terms in April-May, 2002 compared to
a decline of 2.1 per cent in April-May, 2001. Imports decreased by 3.7 per cent as
against an increase of 0.1 per cent in corresponding period of last year.
l Rupee appreciated against US Dollar and depreciated against Pound Sterling,
Japanese Yen and Euro in June, 2002.
l Forex reserves (excluding Gold & SDRs) stood at $54.70 billion at the end of June,
2002.

(G. R. Reddy)
Adviser
 AGRICULTURE
MONSOON SEASON RAINFALL*

Number of Meteorological Sub-divisions

1997 1998 1999 2000 2001 1997-01+ 2002

Excess/Normal 26 29 22 30 28 27 14
Deficient/Scanty/Nil 10 7 14 6 8 9 22
Total 36 36 36 36 36 36 36

+ Annual average * (June-Sept.)

The Monsoon season rainfall from June 1, 2002 to July 17, 2002 was normal/excess in 14 (39 per
cent) meteorological sub-divisions and deficient/scanty in the remaining 22 (61 per cent). The annual
average for 1997-2001 was normal/excess in 27 (75 per cent ) meteorological sub-divisions and defi-
cient/scanty in the remaining 9 (25 per cent).

PROCUREMENT
(Million Tonnes)

Full Marketing Year Up to July 22

1999-2000 2000-01 2001-02 2001(P) 2002(P) % change

(1) (2) (3) (4) (5) (6) Col. (6)/(5)
Rice (Oct-Sep) 17.27 19.11 - 18.45 20.26 9.8
Wheat (Apr-Mar) 14.15 16.36 20.63 20.40 19.02 -6.8
Total 31.42 35.47 20.63 38.85 39.28 1.1

Wheat procurement up to July 22, 2002 in the current marketing year, (i.e., 2002-2003) was
lower by 6.8 per cent at 19.02 million tonnes compared to 20.40 million tonnes in the corresponding
period in 2001-02. Procurement of rice during the marketing year 2001-02 (up to July 22, 2002) stood
at 20.26 million tonnes was higher by 9.8 per cent than the level of 18.45 million tonnes during the
corresponding period of 2000-01.

OFF-TAKE
(Million Tonnes)

April-May
1999-00(P) 2000-01(P) 2001-02(P) 2001-02 2002-03

Rice 12.42 10.22 15.31 1.54 4.02

Wheat 10.63 7.73 15.99 1.98 2.09
Total 23.05 17.95 31.30 3.52 6.11

P- Provisional
Off-take from the Public Distribution System during April-May, 2002-03 was 6.11 million tonnes,
which was higher by 73.58 per cent, than the off-take of 3.52 million tonnes during April-May, 2001-02.

2
STOCKS
(Million Tonnes)

As on 1st May As on 1st June

2001 2002 2001 2002

Rice 22.94 24.35 22.86 23.40

Wheat 29.22 38.11 37.55 41.32
Total 52.16 62.46 60.41 64.72

Stocks of foodgrains as on 1st June, 2002 stood at 64.72 million tonnes which was higher by 7.1
per cent than the level at 60.41 million tonnes as on 1st June, 2001.

STOCKS, PROCUREMENT AND OFF-TAKE OF FOODGRAINS

80

70 6 4 .7 2
6 0 .4 1
60
Million Tonnes

50
3 8 .8 5 3 9 .2 8
40

30

20

10 6 .1 1
3 .5 2
0
Stocks as on Ist June Procurement up to July 22 Off-take during April-May

2 0 0 1 -0 2 2 0 0 2 -0 3

3
 INDEX OF INDUSTRIAL PRODUCTON

SECTORWISE INDEX OF INDUSTRIAL PRODUCTION (Percentage change)

(Base = 1993-94 = 100)

2000-01/ 2001-02/ May '01/ May '02/ Apri-May

1999-00 2000-01 May '00 May '01 2001-02 2002-03

General 5.0 2.8 1.7 3.8 2.1 3.8

Mining & Quarrying 3.7 1.8 -0.5 7.0 1.4 5.6
Manufacturing 5.3 2.8 1.8 3.7 2.2 3.7
Electricity 4.0 3.1 3.0 2.4 2.2 3.8

Use-Based Classification
Basic goods 3.9 2.8 1.3 4.7 2.6 4.2
Capital goods 1.8 -3.9 -3.9 0.6 -4.1 -0.4
Intermediate goods 4.7 1.6 2.6 -0.4 3.2 0.4
Consumer goods 8.0 6.0 3.0 8.4 2.8 8.3
Of which
Consumer Durables 14.5 11.5 7.1 -1.2 6.8 2.2
Consumer non-Durables 5.8 4.0 1.4 12.3 1.3 10.6

The overall growth rate of Industrial production during April-May, 2002-03 was 3.8 per cent as
compared to 2.1 per cent in April-May, 2001-02. The growth in mining & quarrying, manufacturing
sector and electricity generation during April-May, 2002-03 was 5.6%, 3.7% and 3.8% respectively as
against 1.4%, 2.2% and 2.2% in April-May, 2001-02.
As per the use-based classification, production in capital goods during April-May, 2002-03, registered
negative growth while basic goods, intermediate goods and consumer goods (both consumer durables
and consumer non-durables) registered an increase compared with April-May, 2001-02.

4
 SECTORWISE INDUSTRIAL PRODUCTION
GROWTH IN PER CENT
15

10
Per cent

5 .6
5 3 .8 3 .8
3 .7
2 .2 2 .2 2 .1
1 .4

0
Mining Manuf actur ing Electr icity Gener al

Apr il-May, 2 0 0 1 -0 2 Apr il-May, 2 0 0 2 -0 3

USE-BASED CLASSIFICATION
GROWTH IN PER CENT
25

15
1 0 .6
8 .3
Per cent

6 .8
4 .2 3 .2
5 2 .6 2 .8 2 .2
0 .4 1 .3

-0 .4
-5
-4 .1

-1 5
Basic goods Int. goods Consu. dur. goods
Capital goods Consu. goods Consu. non-dur. goods

Apr il-May, 2 0 0 1 -0 2 Apr il-May, 2 0 0 2 -0 3

5
 INFRASTRUCTURE INDUSTRIES

PRODUCTION IN INFRASTRUCTURE INDUSTRIES

Percentage change
April-May
May Full Year April-May 2001-02/ 2002-03/
Industry/Infrastructure Unit 2001 2002 2001-02 2002-03 2000-01 2001-02
(
Coal Mn tons 24.6 25.8 322.6 48.5 51.2 1.3 5.6
Electricity Generation Mn kw 43370 44263 515271 84677 87733 2.4 3.6
Hydel Mn kw 5795 5859 73992 10224 11432 -19.3 11.8
Thermal
(including nuclear) Mn kw 37582 38404 441279 74453 76301 6.4 2.5
Crude petroleum 000 tons 2582 2816 32030 5135 5438 -2.5 5.9
Petroleum Products 000 tons 8354 9043 99815 15723 16985 3.7 8.0
Finished steel 000 tons 2496 2662 31066 4955 5274 1.2 6.4
Cement 000 tons 9375 10282 106900 18270 20119 3.6 10.1

Average growth rate* (%) 1.7 5.5 3.0 - - 1.0 5.8

April Full Year April

Cargo handled at major ports Mn. Ton 21.96 25.35 287.71 1.0 15.4
Telecommunications
a) Net switching capacity 000 lines 126.05 78.47 6956.77 57.1 -37.7
b) Net Tele. connections 000 nos 166.10 81.31 5334.84 23.0 -51.0

Revenue earning Mn. Ton 36.90 40.17 492.31 -0.3 8.9

goods traffic on railways

* Weights as in IIP (Base: 1993-94) : Coal (3.2), Electricity generation (10.2), Crude oil (4.2), Refinery throughput (2.0),
Finished steel (5.1) and Cement (2.0).

The six core infrastructure industries registered significant improvement in April-May, 2002-03 as
compared to April-May, 2001-02. During April-May, 2002-03 average growth rate was 5.8 per cent as
compared to an increase of 1.0 per cent in April-May, 2001-02.

PERFORMANCE OF BASIC INFRASTRUCTURE

INDUSTRIES (GROWTH IN PER CENT)

40

30

20
P er cent

1 0 .1
10 5 .6 5 .9 6 .4
2 .4 3 .6 3 .6
1 .3 1 .2
0
-2 .5
-1 0

-2 0
Elect r icit y Coal Cr ude Cement Steel

Apr il-May, 2 0 0 1 -0 2 Apr il-May, 2 0 0 2 -0 3

6
 REVENUE EARNING GOODS TRAFFIC ON RAILWAYS

(Million Tonnes)

REVENUE EARNING GOODS TRAFFIC ON RAILWAYS

Percentage Change
April April-Mar. April April-Mar.
Commodities 2001 2002 2000-01 2001-02 2002/2001 2001-02/
2000-01
Coal 17.36 19.02 223.68 229.79 9.6 2.7

Raw material for

Steel Plants 3.12 2.98 38.75 39.38 -4.5 1.6
Pig Iron &
Finished Steel From
Steel Plants 0.83 0.90 11.79 12.00 8.4 1.8

Iron Ore for Exports 1.17 0.85 14.56 15.72 -27.4 8.0

Cement 3.77 3.88 42.88 44.00 2.9 2.6

Foodgrains 2.52 3.55 26.68 32.81 40.9 23.0

Fertilizers 1.67 1.73 27.12 27.09 3.6 -0.1

POL 2.55 2.72 36.25 35.62 6.7 -1.7

Balance other goods 3.91 4.54 51.79 55.90 16.1 7.9

Total 36.90 40.17 473.50 492.31 8.9 4.0

The revenue earning goods traffic handled by the Railways increased by 8.9 per cent during April,
2002-03 as compared to a decline of 0.3 per cent in April, 2001-02.

7
 MONEY AND BANKING

VARIATIONS IN MONEY STOCK

Full Year Mar 31 '02 Full Year Mar 31 '01 Mar 31 '02 Jun 29 '01
Mar 31 '01 to Mar 31 '01 to to to
to Jun 28 '02 to Jun 29 '01 Jun 28 '02 Jun 28 '02
Mar 31 '02 (PR) Mar 31 '02 (P) (PR) (P)

(Rs crore) (per cent)

M1 (I+II+IV) 43083 18180 11.4 4.7 4.3 10.9

M3(M1+ III) 186782 117345 14.2 5.1 7.8 17.1
I. Currency with the public 31849 14048 15.2 6.1 5.8 14.9
II. Demand deposits with banks 12014 3744 7.2 3.1 2.1 6.2
III. Time deposits with banks 143699 99164 15.4 5.3 9.2 19.7
IV. Other deposits with RBI -780 389 -21.5 3.2 13.6 -13.5

Sources of change in M3
(1+2+3+4-5)

1. Net Bank Credit to Govt (A+B) 74511 43733 14.6 8.1 7.5 13.9

A. RBI’s net credit to Govt a -1699 -4212 -1.1 10.2 -2.8 -12.8
To Central Govt -5150 1455 -3.5 13.3 1.0 -14.0
To State Govts 3451 -5668 47.0 -51.5 -52.5 43.9
B. Other bank credit to Govt 76210 47946 21.3 7.1 11.0 25.7
2. Bank credit to commercial sector 77046 58741 11.3 0.3 7.8 19.6
3. Net foreign exchange assets of
banking sectorb 64913 19279 26.0 0.6 6.1 33.0
4. Govt’s currency liabilities to
the public 1013 89 18.9 3.9 1.4 16.0
5. Banking sector’s net non-monetary
liabilities other than time deposits 30701 4498 23.1 -16.8 2.7 52.0

P Provisional
PR Partially revised
a. Includes special securities
b. Inclusive of appreciation in the value of gold following its re-valuation close to international market price effective October 17,
1990. Such appreciation has a corresponding effect on RBI’s net non-monetary liabilities.

During the current financial year so far (i.e., March 31, 2002 to June 28, 2002) money supply (M3)
increased by 7.8 per cent which is higher than 5.1 per cent in the corresponding period of 2001-02.
Among its components, currency with the public showed a growth of 5.8 per cent as against 6.1 per cent
in the corresponding period of last year. Demand deposits with banks showed a growth of 2.1 per cent as
against an increase of 3.1 per cent in the corresponding period of last financial year. Time deposits with
banks increased by 9.2 per cent as against 5.3 per cent in the corresponding period of last year. The
annual growth of M3 as on June 28, 2002 stood at 17.1 per cent.

8
 INCREASE IN MONEY SUPPLY (M3)
(CUMULATIVE GROWTH RATE)

20

15
P er cent

10

0
Apr -1 9 Jun-2 8 Aug-2 4 Oct -1 9 Dec-1 4 F eb-0 8
May-1 7 Jul-2 7 Sep-2 1 Nov-0 2 Jan-2 5 Mar -2 2

2 0 0 0 -2 0 0 1 2 0 0 1 -2 0 0 2 2 0 0 2 -2 0 0 3

On the sources side, the Net Bank Credit to Government showed a growth of 7.5 per cent during the
current financial year (i.e. March 31, 2002 to June 28, 2002) which is lower than that of 8.1 per cent
increase in the same period of 2001-02. RBI’s Net Credit to Central Government increased by 1.0 per
cent as against an increase of 13.3 per cent in 2001-02. Bank credit to the commercial sector increased
by 7.8 per cent as against an increase of 0.3 per cent in the same period of last year. Net foreign exchange
assets of banking sector increased by 6.1 per cent as compared with 0.6 per cent in the corresponding
period of 2001-02.

INCREASE IN NET RESERVE BANK CREDIT TO CENTRAL GOVT.

(CUMULATIVE GROWTH RATE)

25

20

15
P er Cent

10

-5

-1 0
Apr -1 9 Jun-2 8 Aug-2 4 Oct-1 9 Dec-1 4 F eb-0 8
May-1 7 Jul-2 7 Sep-2 1 Nov-0 2 Jan-2 5 Mar -2 2

2 0 0 0 -2 0 0 1 2 0 0 1 -2 0 0 2 2 0 0 2 -2 0 0 3

9
SCHEDULED COMMERCIAL BANKS

SCHEDULED COMMERCIAL BANKS:

VARIATION IN ASSETS AND LIABILITIES

Full Year Mar 22,'02 Full Year Mar 23,'01 Mar 22,'02 Jun 29,'01
Mar 23,'01 to Mar 23,'01 to to to
to Jun 28,'02 to Jun 29,'01 Jun 28,'02 Jun 28,'02
Mar 22,'02 (PR) Mar 22,'02 (P) (P)

(Rs crore) (per cent)

1. Bank credit 74398 58328 17.3 1.6 9.9 24.8

Food credit 13987 7030 55.7 25.9 13.0 21.2
Non-food credit 60411 51298 14.9 -0.5 9.6 25.1

2. Aggregate deposits 137836 100606 18.4 5.6 9.1 18.4

Demand deposits 9129 3677 11.9 3.8 2.4 5.9
Time deposits 128707 96928 19.5 5.9 10.2 20.5

3. Borrowings from RBI -280 -3280 -40.0 -7.2 -90.7 -90.7

4. Cash reserves
Cash in hand 405 931 6.1 22.0 14.9 4.0
Balances with RBI 2858 -7334 3.7 24.8 -11.8 -25.9

5. Investments in Govt. and

other approved securities 68994 46080 19.8 6.3 10.5 23.1

P = Provisional

Bank credit by the scheduled commercial banks during the current financial year so far (i.e. March
22, 2002 to June 28, 2002) showed a growth of 9.9 per cent as compared with an increase of 1.6 per
cent in the corresponding period of last financial year. Food credit increased by 13.0 per cent while non-
food credit increased by 9.6 per cent during this period.

10
 INTEREST RATES (PER CENT PER ANNUM)

2001 2002
Item/ Week ended Jul. 6 Jul. 5
1 2 3
Bank Rate 7.00 6.50
I.D.B.I.1 12.50 12.50
Prime Lending Rate2 11.00-12.00 11.00-12.00
Deposit Rate3 8.00-9.50 7.00-8.25
Call Money Rate4 (Low/High)
-Borrowings 4.70/8.10 3.50/6.50
-Lendings 3.65/8.00 3.50/6.55

1. Minimum Term Lending Rate (MTLR).

2. Prime Lending Rate relates to five major Banks.
3. Deposit Rate relates to major banks for term deposits of more than one year maturity.
4. Call money rates are based on data covering 75-80 per cent of total transactionas reported by major participants.

As on July 5, 2002, Prime Lending Rate ranged from 11.00 to 12.00 per cent same as on July 6,
2001. Deposit Rate ranged from 7.00 to 8.25 per cent as against 8.00 to 9.50 on the corresponding day
of last year.

INTEREST RATES
(PER CENT PER ANNUM)
30

20
Per cent

1 2 .5 0 1 2 .5 0

10 8 .1 0
7 .0 0 6 .5 0 6 .5 0

0
B ank R at e Call Money R ate ( B or r o. H igh)
I DBI

July 6 , 2 0 0 1 July 5 , 2 0 0 2

11
 EXTERNAL SECTOR
FOREIGN TRADE

FOREIGN TRADE*

April-May April-May
Item 2000-01(R) 2001-02(PR) 2001-02 2002-03 2001-02 2002-03
Rs. Crore % change
Exports 201356 207746 31602 36472 4.7 15.4
Imports 228307 243645 41085 41344 7.0 0.6
POL 71497 66770 12505 12180 8.6 -2.6
Non-POL 156811 176875 28580 29164 6.4 2.0
Trade Balance -26951 -35899 -9483 -4872 - -
Million Dollar % change

Exports 44075 43560 6744 7450 -2.1 10.5

Imports 49975 51087 8768 8445 0.1 -3.7
POL 15650 14000 2669 2488 1.5 -6.8
Non-POL 34325 37087 6099 5957 -0.5 -2.3
Trade Balance -5900 -7527 -2024 -495 - -

P = Provisional, PR = Partially Revised

Exports in dollar terms in April-May, 2002-03 increased by 10.5 per cent as compared to a decline
of 2.1 per cent in April-May, 2001-02. Imports decreased by 3.7 per cent as against an increase of 0.1
per cent in last year. Imports of POL declined by 6.8 per cent in April-May, 2002-03 as against an
increase of 1.5 per cent in corresponding period last year.

EXPORTS
(PER CENT GROWTH IN DOLLAR TERMS)

40

30

20
Per cent

1 0 .5
10

0
-1 .2 -2 .1
-1 0

-2 0
2 0 0 1 -2 0 0 2 Apr il-May 2 0 0 1 -0 2 Apr il-May 2 0 0 2 -0 3

12
 IMPORTS
(PER CENT GROWTH IN DOLLAR TERMS)

60

40
Per cent

20
8 .0
2 .2 1 .5 0 .1
0
-0 .5 -2 .3 -3 .7
-1 0 .5 -6 .8
-2 0

-4 0
2 0 0 1 -2 0 0 2 Apr il-May 2 0 0 1 -0 2 Apr il-May 2 0 0 2 -0 3

P OL NON-P OL T OT AL

FOREIGN EXCHANGE RESERVES

FOREIGN EXCHANGE RESERVES (EXCLUDING GOLD AND SDRs)

Amount Variation
At the end of Rs Crore $ Million Rs Crore $ Million
(Over last Year)
March, 1995 66006 20809 18719 5741
March, 1996 58446 17044 - 7560 - 3765
March, 1997 80368 22367 21922 5323
March, 1998 102507 25975 22139 3608
March, 1999 125412 29522 22905 3547
March, 2000 152924 35058 27512 5536
March, 2001 184482 39554 31558 4496
March, 2002 249118 51049 64636 11495
2002-2003 (Over last Month)
April 255166 52107 6048 1058
May 259319 52890 4153 783
June* 267333 54703 8014 1813

* Provisional

13
 Foreign Exchange Reserves (excluding Gold & SDRs), were $51049 million at the end of 2001-
2002. These reserves have increased by $3654 million and stood at $54703 million at the end of June,
2002.

MOVEMENT IN FOREIGN EXCHANGE RESERVES

(Excluding Gold and SDRs)

280000 60000

260000 55000
240000
50000

US $ Million
Rs cr or e

220000
45000
200000
40000
180000 2000-2001 2001-2002 2002-2003
160000 35000

140000 30000
A M J J A S O N D J F M A M J J A S O N D J F M A M J

Rs US$

14
EXTERNAL AID RECEIPTS AND DEBT SERVICE PAYMENTS*
(Rs Crore)
Receipts Repayment of Payment of
Principal Interest
2001-02 2002-03 2001-02 2002-03 2001-02 2002-03
Loans- Govt. A/C 1056 595 1148 1754 458 419
Grants- Govt. A/C 201 65 - - - -
Total 1257 660 1148 1754 458 419
Non-Govt. loans 73 226 102 149 67 38
Grants-Non-Govt. 34 12 - - - -
Grand Total 1330 898 1250 1903 525 457
(284) (183)
Net Flows
(net of repayment) 80 -1005 - - - -
Net Transfers
(net of repayment and
interest payments) -445 -1462 - - - -

* April-May
Note: Figures in brackets are in terms of million US $

Gross external aid in April-May, 2002-03 at Rs 898 crore was 32.5 per cent lower than that of
Rs 1330 crore in April-May, 2001-02. Net aid flows (net of repayments) amounted to Rs (-) 1005
crore as against Rs 80 crore. Net aid transfers (net of repayments and interest payments) was
Rs (-) 1462 crore as against Rs (-) 445 crore in the corresponding period of last year.

EXTERNAL AID AND DEBT SERVICE PAYMENTS

( 2000-01 and 2001-02)

5000

4000
Rs cr or e

3000

1903
2000
1330 1250
898
1000
525 457

0
Gr oss R eceipt s R epayment s I nt . P ayment s

Apr il-May 2 0 0 1 -0 2 Apr il-May 2 0 0 2 -0 3

15
EXCHANGE RATES

Rupees Per Unit of Foreign Currency (Market Ratea)

US Pound Deutsche Japanese French Euro@ 5 Country 5 Country

Month Dollar Sterling Mark* Yen Franc* NEER REER
Base 1995=100

March 2000 43.59 68.93 21.54 0.4208 6.42 42.08 81.75 99.39
March 2001 46.62 67.39 21.64 0.3846 6.45 42.44 80.23 99.92
March 2002 48.74 69.37 -- 0.3723 -- 42.75 78.58 102.20
2002-2003
April 48.92 70.53 -- 0.3738 -- 43.30 77.98 101.08
May 49.00 71.53 -- 0.3876 -- 44.93 76.65 99.25
June 48.97 72.57 -- 0.3965 -- 46.74 75.56 97.98

a. FEDAI Rates
@ Came into operation w.e.f. 1.1.1999
* The rates for these foreign currencies are the average of week end rates reported in the Financial Times, London
since exchange rates for the currencies are not quoted in India from Jan. 1,1999.

The average market exchange rate of the Rupee during June, 2002 appreciated against US Dollar
and depreciated against Pound Sterling, Japanese Yen and Euro compared to average market rate during
May, 2002. Both NEER and REER moved down in June, 2002 as compared with the last month.

FLUCTUATION IN MARKET EXCHANGE RATE OF RUPEE

(PERCENTAGE CHANGE OVER LAST MONTH)
Appreciation

7
5
3
1 0 .0 6
-1 -0 .1 6
-3 -1 .4 0 -1 .4 3
Depreciation

-2 .2 4
-5 -3 .5 6 -3 .6 3 -3 .8 7
-7
-9
US$ P ound St er ling Yen Eur o

May 2 0 0 2 June 2 0 0 2

16
 INFLATION
WHOLESALE PRICE INDEX

WHOLESALE PRICES (Base 1993-94)

Per cent Variation During

MONTH YEAR (point to point)
(July 6 over June 8) (ending 6.7.2002) (P)
Items/Groups Weight Last Current Last Current
(%) Year Year Year Year

All Commodities 100.00 0.25 0.37 5.43 1.99

I Primary articles 22.03 -0.12 0.12 3.36 0.95

II Fuel, Power, Light and Lubricants 14.23 0.00 0.26 14.29 5.67

III Manufactured Products 63.75 0.49 0.48 3.43 1.17

P = Provisional

The annual rate of inflation based on Wholesale Price Index (WPI) stood at 1.99 per cent for
week ended July 6, 2002 compared to 5.43 per cent a year ago. This rate was contributed by an increase
of 0.95 per cent in Primary articles, 5.67 per cent increase in Fuel, Power and Lubricants and 1.17 per
cent increase in Manufactured Products as against an increase of 3.36 per cent, 14.29 per cent and 3.43
per cent respectively, on the corresponding date of last year.

ANNUAL RATE OF INFLATION IN WPI

10

6
P er cent

0
Apr -0 6 Jun-0 8 Aug-0 4 Oct- 0 6 Dec-0 8 F eb-0 2
May-0 4 Jul-0 6 Sep 0 8 Nov-0 3 Jan-0 5 Mar -0 2

2 0 0 0 -2 0 0 1 2 0 0 1 -2 0 0 2 2 0 0 2 -2 0 0 3

17
CONSUMER PRICE INDEX

CONSUMER PRICE INDEX AND INFLATION RATE

2001-2002 2002-2003
(Up to May, 2001) (Up to May, 2002)

Per cent
Annual Inflation 2.5 4.7
Financial Year Inflation (%) 1.2 0.9
% change over Last Month 0.7 0.6

Level of Index 451 472

Average of Index for 12 months
ending May 445.92 466.83

The All India Consumer Price Index for Industrial Workers (CPI-IW) for May, 2002 which
stood at 472 increased by 0.6 per cent over the previous month’s level and increased by 4.7 per cent over
May, 2001.

ANNUAL RATE OF INFLATION IN CPI

25

20

15
P er cent

10

0
Apr May Jun Jul Aug Sep Oct Nov Dec Jan F eb Mar

2 0 0 0 -2 0 0 1 2 0 0 1 -2 0 0 2 2 0 0 2 -2 0 0 3

18
 EMPLOYMENT EXCHANGE STATISTICS

(In Lakhs)

MONTHLY HIGHLIGHTS OF EMPLOYMENT AND UNEMPLOYMENT

April
2002
1. No. of job-seekers on 409.13
Live register at the
end of the month
2. No. of registrations/ 3.12
re-registrations
3. Placements effected 0.15
4. No. of vacancies notified 0.13

The number of job-seekers on Live Register of Employment Exchanges at the end of April, 2002
was 409.13 lakh. The number of registrations during April, 2002 was 3.12 lakh. The Placements were
0.15 lakh and number of vacancies notified was 0.13 lakh during this period.

19