India - Economic situation and prospects

Report No. 691a-IN Economic Situation and Prospects of FILE COPY India May 1, 1975 Asia Region South Asia Department Not for Public Use Document of the International Bank for Reconstruction and Development International Development Association This report was prepared for official use only by the Bank Group. It may not be published, quoted or cited without Bank Group authorization. The Bank Group does not accept responsibility for the accuracy or completeness of the report  CURRENCY.AND OTHER EQUIVALENTS Currency Prior to June 6, 1966 US$1.00 = Rs 4.76t9 Rs 1.00 = US$0.21 From June 6, 1966 to mid-December 1971 U US$1.00 = Rs 7.50 Rs 1.00 = US$0.1333 Mid-December 1971 to end June 1972 US$1.00 = Rs 7.27927 Rs 1.00 = US$0.1374 After end-June 1972 floating rate Spot rate (March 31, 1975) : US$1.00 = Rs 7.72 Rs 1.00 = US$0.1295 Rupee trade figures have been converted into dollars by using the prevailing exchange rate up to 1970/71. For subsequent years average IMF trade conversion rates have been used. These are Rs 7.444, Rs 7.706 and Rs 7.791 per US dollar for the periods 1971/72, 1972/73 and 1973/74. For 1974/75, the average trade conversion factor for the first three quarters has been used - Rs 7.968 per US dollar. Weights Unless otherwise specified all weight measures are metric Years The Indian fiscal year runs from April 1 through March 31 Abreviations Used n.a. = not available n.s. = not significant (blank) = not applicable = nil  REPORT NO. 691a-IN INDIA ECONOMIC REPORT Errata Page Para. Line Lii viii 10 "US$100 million" should read "US$40 million" 1.32 3 Add "a" after "fuel" at end of line. 10 1.36 7 "1975/76" should read "1197/75t" 12 1.h1 13 The first "an" should read "at" 15 1.49 10 "co:coi-uiiitant" should read "concomitant" 16 1.52 10 "inelasticity" should read "elasticity" 34 2.49 2 "adminstration" should read "administration" 45' 3.23 last "paragraph 10" should read "paragraph 11" 50 3.39 25 "fertilzers" should read "fertilizers" 57 3 .5 . 1 14 Add. "Consortium" between "that" and "aid" Annex II, p.2 footnote 2 "US$2.2 billion" should read "US$2.4 billion" Annex LI, p.3 3AII.10 7 "six" should read "five" Annex II, p.4 Table 3aII.1 footnote d "FY75" should read "FY76" Annex II, p.5 Table 3aII.2 Import Capability in 197L/75 under all alternatives should be "5715 " rather than "5725"   DOCUMENT OF > INTERNAATIOAIAL BANK FOR RECONSTRUCTION AND DEVELOPMIF