'il 1 riWpV RESTRICTED AS 122 Vcld. 3 This report was prepared for use within the Bank and its affiliated organizations. | They do not accept responsibility for its accuracy or completeness. The report may not be published nor may it be qluoted as representing their views. INIERzNATIONAL BANK FOR REtCONSTKUCTION AND) DLVELOPMEMNi INTERNATIONAL DEVE3LOPMEN-1 ASSOCIATION INDLAN ECONOMIC POLICY AND THE FOURTH FIVE YEAR PLAN (in four volumes) VOLUME III STATISTICAL APPENDIX May 22, 1967 Asia Department EQUIVALENT. S l Indian Rupee U.S. $0. 13 1 U.S. Dollar R.s. 7. 5 1/ 1 lakh 10.0 thousand -1 crore- 1 0 -lo i/Following devaluation. of june; 6-, 1966. The. previous exchange rate was.-Rs. 4. 76 for one U.S. dollar. N!OTE Tables 37 and following represent or are based on Fourth Plan estimates and projections of the Government of India. Exceptions to this are Tables 48, 49, 50 and 51 which reflect in part estimates of the Bank mission. Others do not neces- sarily reflect the views of the mission. STATISTICAL APPENDIX Title Table No. Population Population 1 Income and Production National Income by Sector 2 Grow+h ofP Der Ca,pit Tnc--. 3 Index Numbers of Agricultural Production 4 I .U r:Ucti on of rr .±jncJpaL Iurops Area Planted to Principal Crops 6 Average 'i'leld per nectare of Principal Crops 7 Industrial Production 8 Production in Selected Industries Money Supply and Prices Money Supply and Allied Data 10 Causes of Variations in Money Supply 11 Working Class Consumer Prices 12 WJholesale Prices 13 ITholesale Prices of Selected Commodities 14 Security Prices 15 Security Yields 16 Public Finance Consolidated Budgets of the Center and State Governments 17 Credit Extension to Government 18 Current Budget of Central Government 19 Customs Revenues 20 Capital Budget of Central Government 21 Current Budget of States (Consolidated) 22 CC.Capital Budget of States (Consolidnt.d) 23 'iet Absorpticn of Govermnent Securities Dy the Public Since 1951/52 214 External Trade and Payments India's Balance of Payments 25 Pavments for Imnorts 26 Receipts from Merchandise Exports 27 Selected Tnv!.-ih1b Transactions 28 Import and Export Indices 29 Expor+s of Selected Commodities bh Cbiintity 30 Imports by Source 31 Exports by D'estination 32 Gold and Foreign Exchange 33 STATISTICAL APPENDIX (Contirned.) Title Table No. External Assistance and, Debt Service Utilization of External Assistance 34 Estimated. External Debt Outstanding by Creditors (April 1. 1966) 35 Estimated. Annual Service on Debts Outstanding, (April 1, 1966) --,6 Fourth Plan Fourth Plnn - Outlays and. Investment 37 Fourth Plan - Major Targets 38 Fouirnth Plnn - Tr vestment P n.dn Financ-i ng :39 Fourth Plan - Capital Account hlo Fomrrth Plan - Past and. Target Resources and. Their Use, 1960/61 - 1970/71 4l Fourth Plan Reso--ces anrd Their Use, 1965/66 - 1970/71 h2 Fourth Plan - Personal Income, 1965/66 and 1970/71 43 Fourth P1a r- Projct+eA TI-----ncr i P---r.ion, Sav Investment and. External Trade, 1965/66 - 1970/71 44 Fourt Pl-nar - Sifcant- TRa4tios to A C-D and. Ur-ee. Changes, 1965/66 - 1970/71, Includ.ing Marginal Rates ofL Ch.ange.l Fourth Plan - Industry Program, Public Sector-Central UoverIlLentjIJ-bai s 46J Fourth Plan - Industry Program; Public Sector Projects Underway at Start of Plan indicating Investment Before and. During Plan 47 Fourth Plan - Industry Program; Investment in Public Sector Projects in Terms of When Output is Expected. 48 Fourth Plan - Mild.Steel, Estimates of Production 49 Fourth Plan - Nitrogen Fertilizer, Estimates of Production 5u Fourth Plan - Phosphate Fertilizer, Estimates of Production 51 Fourth Plan - Mineral Program, Public Sector Program, Central Government, by Fields 52 Fourth Plan - Projected Exports 53 Fourth Plan - Projected.Maintenance Import Requirements 54 Fourth Plan - Projected. Project Import Requirements 55 Fourth Plan - Government Current Account, 1965/66 and. 1970/71 56 Fourth Plan - Financing of Public Sector Plan Outlays 57 Fourth Plan - Financing of Private Sector Investment 58 TABLE 1: Population V Population (millions): 1951 (census) (March 1) 361.1 1961 (census) (March 1) 439.2 1962 453 4 1963 464.3 1964 475.5 1965 487.0 1966 )498.9 Growth in Population (average annual rate): 1951 - 1961 +2.0% 1962 -1966 (est.) +2.5% Birth rate (per 1,000): 1951 40 1961 (est.) 40 Death rate (per 1,000): 1951 27 1961 (est.) 18 1/ 1951 and 1961 population based on census data! 1962 _ 1956 population estimated at mid-calendar year. Source: Government of India (Registrar general). TABLE 2: National Income by Sector TRs. billion; 1960761 prices Sector 1960/61 1961/62 1962/63 1963/64 1964/65 1965/66 (estimates) Agriculture and allied sectors 68.9 69.0 67.6 69.7 74.6(102.7) 63.9 Mining and mrnnufacturi ng 272 28 3 30.1 - 1 .9 (36.0) 33,J Comm..erce, transport and communications 23.4 2h.2 25.1 26.4 28.9 (29.6) 29.1 Other services 23.6 25.2 27.2 29.3 32.0 (32.9) 3h.1 Net domestic product au factor cost l1l.9 1h5.6 1h8.2 155.5 167.L(201.2) 160.5 Net national b/ income I4. 11u. ,I7. I ,ri 166.3(20.1 159.3 ~ ±L4±.L . LLJ4.1 7 L4(L .L i44 .k CAJ. U.~.J ±7 Per capita c/ income (Rs.) 326 326 323 331 348 (422) 325 a/ Figures in ( ) at current prices b/ Rs. 200 billion (estimated) at current prices c/ According to the latest available estimates of the C,S.O., this figure works out to 331. Source: Planning Commission, Draft Outline, Fourth Five Year Plan TABLF; 3: Growth of Per Capita income National Income Per Capita Income a/ Fiscal Year (Rs. billion) (Rs.) Population Current 1960/61 Current 1960/61 (:million) Prices Prices Prices Prices 1950/51 95.3 98.5 266 275 363.4 1955/56 99.8 116.7 255 299 397.8 1960/61 141.4 141.4 326 326 Lh2.7 1961/62 148.o lLL.9 33L 326 453.L 1962/63 l1L.0 1L7.4 339 323 h6h.3 1963/64 172.1 15L.6 371 331 Or,. 196h/65 200.1 166.3 ),21 3h8M ),87 0 b/ 1965 66 (est.) 200O. 0 159=3 h08 325 h99.& a/ Wstinated popnll-ti n at mid-point of calendar year 1951, 1956, 1961 etc., per capita income projections calculated on the basis of estimated population at mrid-point of fiscal year. b,/ See note t o Table 2. Source: Ministry of Finance, E-conomic Survey, 1965-1966 and Fourth PlKnw Draft Outline. TABUE 4: Index Numbers of Agricultural ProductiornZ!. (Agricultural years beginning July: 19U9/5U1I0) Weight 1950/51 1955/56 1960/61 1961/62 1962/63 1963/61, 1,964/65 1965/6 Foodgrains Rice 35.3 88 114 '138 1L2 127 1-b7 155 122 Wheat 8.5 101 131 163 179 160 1iV6 182 159 £t0Z 1±U10 9 Barley 2.0 i llE 11 1 Jowar 5.0 90 97 141 115 138 :-31 140 108 Haira 2.7 8I 108 103 11b 122 217 1140 113 Maize 2.1 81 112 140 151, 164 163 167 166 Ragi 1.2 88 120 122 132 123 128 123 85 Siall millets 1.5 loS 9 1re inA. Inr_ 82 Total Cereals 58.3 90 115 138 143 132 1,1 154 12L Grarm 3.7 98 139 160 1] 8 137 116 148 11l1 Tu r 1.1 92 99 106 70 80 69 95 85 Other Pulses 3.8 86 101, 105 110 108 io 11 4 93 Totni PTilses 8.6 92 118 127 122 117 103 126 101 Total Foodgrains 66.9 91 115 137 IJO 130 136 150 121 Non-Foodgrains Groundr.nt 5.7 101 112 1t2 1118 1b2 1 51 178 122 Sesamum 1.2 102 105 77 90 112 106 119 98 Rape and mustard 2.0 95 106 166 166 159 111 180 156 Linseed 0.8 88 97 9 11 101 ?1 121 79 Castorseed 0.2 81 96 82 84 78 78 80 53 Total Oilseeds 9.9 99 109 13L 140 138 133 165 121 Cotton 2.8 111 15h 202 175 202 209 216 179 Jute 1.1, 106 136 125 193 165 167 182 136 Nesta 0.3 100 175 169 281 250 276 231, 181, Total Fibres b.5 109 150 176 188 194 207 206 166 lea 3.3 1la 107 121 133 130 1 110 1.: Coffee 0.2 112 196 246 230 236 250 250 250 Rubber 0.1 94 11,6 167 180 209 23 9 286 286 Total Plantation Crops 3.6 1lo 113 129 lbO 139 lLO 150 150 Sugarcane (in terms of Gur) 8.7 114 120 184 174 157 I1Yl 200 197 Tobacco 1.9 97 113 114 126 132 13l0 123 98 Potato 1.0 10 7 12 0 169 152 193 1 7 212 2I2 Pepper (black) 1.2 97 133 135 135 121 116 114 111 Chillies (dry) 2.0 119 123 142 130 143 155 160 130 Ginger (dry) 0.3 91 1o6 116 121, 129 1I1, 137 139 Total Miscellaneous 15.1 110 120 163 156 151 15z9 178 170 Total Non-Foodgrains 33.1 106 120 153 153 152 156 175 152 All Commodities 100.0 96 117 142 145 138 1123 158 132 a/ The indices for 1962/63. 1963/61 and 1961165 are all subject tc revision. Source: Ministry of Food and Agriculture. TABT.F. Pt Pdnrction of P-'inrirp-l Cr pfny rCo.,--it A,4-I50/51 ine 1955/56 n- 196/1 1962/63a 194/65 1965/66 1 _ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~~~J7-. .7) L7 w . L7j- (million tons)b/ Foodgrains 50.8 66.8 82.0 78.4 89.0 72.3 Cereals 42.4 55.8 69.3 67.0 76.6 62.3 Rice 20.6 2I7.6T 3. 31.9 39.0 30.6 Wheat 6.5 8.8 11.0 10.8 12.3 10.7 Coarse grains 15.3 19.4 23.7 24.3 25.3 21.0 Pulses 8.4 11.0 12.7 11.4 12.4 10.0 (thousand tons)bi Oilseeds 5,158 5,734 6,982 7,113 8,458 6,096 Gro.dr.ut 3,48 -7-1 3,r 0-81 5,8 r -n 1 -rro'n rnn1 UrouL±u1.L±ubUO 14, U±L L4,Ue.L 2Luu 4Vc Castor 103 125 107 101 108 71 0 1. I - r, I .-' ~ I /1 I ,-~- I. ^ es a rium 445 40 _).LU 404 4)3) 4U0 Rape and mustard 762 860 1,347 1,294 1,466 1,268 Linseed 307 420 398 433 503 329 Sugarcane_/ 5,7°5 6,075 11,141 9,544 12,031 11,830 Cotton 518 711 953 956 1,022 847 Jute 596 762 744 981 1,084 807 Mesta. n.a. 209 203 305 285 224 Tobacco 261 303 307 366 3)46 27)1 Chillies (dry) 351 361 419 420 469 381 (million kilograms) Tea 275 285 321 347 372 365 Coffee 25 34 43 42 n.a. n.a. Rubber 14 22 25 32 44 49 Coconuts (mn. nuts) 3,582 4,226 4,639 5,017 4,806 n.a. aV Data for 1962/63 - 1965-66 are provisional estimates. 7/ Tons refers to metric tons. '/ Yield expressed in terms of gur. I50.urL . M* Li.414.L0 .y o.f FUoo Acuiu e. TABLE 6: Area Planted to Principal1 Crops] 1950/51 1955/56 1960/61 1962/63 1964/65 1965/66 (million hectares) Rice 30.8 31-5 34.1 34.9 36.4 35.0 Wheat 9.7 12.4 12.9 13.7 13.5 12.8 Coarse grains 37.7 43-5 h50 ° 43.4 43.8 42.4 Total Cereals 78.2 d7.4 92.0 92.0 93.7 90.2 Pulses 19.1 23.2 23.6 24.0 21.0 21.4 Total Foodgrains 97.3 110.6 115,6 116.0 117.5 111.6 Groundnuts 4.5 5.1 6.5 6.9 7.2 7.2 Castor 0.6 0.6 0.5 0.4 0,4 0.3 Sesamum 2.2 2.3 2.2 2.5 2.5 2.4 Rape and mustard 2.1 2.6 2.9 3.1 2.9 2.9 Linseed 1.L 1.5 1.8 1.9 2.1 1.8 Total Oilseeds 1o.7 12.1 i3.8 TT5W 15.1 T176 Sugarcane 1.7 1.8 2.4 2.3 2.6 2.7 Cotton 5.9 8.1 7.6 7.8 8.3 7.8 Jute 0.6 0.7 0.6 0.9 0.8 0.7 Mesta n an 0.2 0 O3 0 0 O.), 0.3 Tobacco 0.4 0.4 0.4 0.14 0.14 0.3 Chillies 0.6 0.6 0.7 0.6 0.7 0.6 t+hous ar,d hectares) TP e a 318 316 331 333 338 Coffee 91 101 114 121 n.a. n.a. RubbJ'er 58 70- 12 14~ ~~4 151o" n.a. Coconut 622 6147 717 798 818 n.a. a/ Data for 1962/63, 1964/65 and 1965/66 are subject to revision. Source: ninistry of Food and Agriculture. ^TABL 7. Averag Yo9-fi+etf ;onld a/^ (Kilograms) Rice 668 874 1,013 914 1,073 87h seab66 708 851 793 913 838 VYLle a -LLI 00) (UQ U).. -- U_)U Coarse grains 408 448 485 558 575 494 Total cereals 542 63 7>3 7 oP9 Pulses 441 476 539 477 523 467 Totai foodgrains 5265 710 6 4 6f Groundnuts 7745 702 816 56 (nut in shell) Castor seed 186 218 230 232 245 199 Sesamum 202 204 147 186 196 165 Rape and mustard 368 336 467 416 509 439 Linseed 262 275 222 228 244 186 Total oilseeds LO 4774 50760 Sugarcane (gur) 3,342 3,289 4,613 4,186 4,696 4,303 Cotton (lint) 88 88 125 122 124 108 Jute 1,043 1,082 1,183 1,153 1,294 1,079 Tobacco 731 739 766 880 876 792 Chillies (dry) 593 598 628 668 654 586 Tea 876 902 970 1,042 1,101 1,068 Coffee 270 341 379 345 - n.a. a/ Figures for 1962/63, 1964/65 and 1965/66 are subject to revision. Source: Ministry of Food and Agriculture. IABLE 8: Industrial Production Undex nTG7be-rs71: 97--10Q) August August Industry Group Weight, 1960 15161 1962 1963 1964 19365 19655 1966 Mining and quarrying 7.47 137> 147 ]62 176 169 184 177 180 Food manufacturing 13.99 117' 129 127 123 136 1144 135 1140 Cigarettes 1.49' 14.. 150 I56 152 176 206 203 228 Cotton textiles 32.10 103, 19 109 116 123 123 1215 130 Woolen textiles 1.10 101. 107 139 166 128 110 116 110 Silk & synthetic textiles 2.94 1355 UL5 1.54 170 21:L 2:L8 219 2,29 Jute manufactures 5.62 99, 590 1.10 117 12L 126 125 97 Paper and paper products 1.39 173 182 191 227 2313 2.55 2565 291 Rubber products 3.04 141. 1157 170 187 198 218 233 231 Chemicals and products 3.56 148; 17'1 1.84 204 224 2:35 237 256 a) Basic industrial chemicals 0.97 193 228 257 298 353 394 388 425 b) Fertilizers o.60 138 17'8 196 228 251 2';8 271 3:23 Petroleum products 3.79 146 157 169 197 217 2 31 246 262 Cement 1.24 157 165 1L72 187 1914 211 214 220 Basic metals 9.25 183 211 255 293 290 299 309 3,04 Electrical cables and wires 0.72 182 181 213 241 32:L 2938 297 368 Railway lwagons 1.04 47 66 106 120 151 157 148 102 Automobiles 1.28 162 169 180 163 2059 226 2103 2:29 Electricity 3.68 171 15199 223 256 297t 327 331 370 All Industries 100 13CI 141 153 166 177 187 184 190 Source: Reserve Bank of India Bulletin, December 1966. 1966 (Seasonally) % Increase Over Alu. Sel)t . Oc, Nov. Year Ago *Seasonal:y adjusted. All Ind. 190.l 19C).8 177.6 197.3 - Textiles 131.8 124.6 123.9 125.9 -.1.8 All manuf. 186.5 184.8 18C).5 183.4 -1.3 3 -1-~~1.8 TABLE 9: Production in Selected industries 6 months (jan. -June) b Product Unit 1951 1956 1962 1964 1965 T 3 7n- 1n66 M1ning Coal mil. tons 35 40 62 64 69 35 35 Iron ore mil. tons 3.7 4.3 13.4 14.9 16.8 7.8 10.3 Metals Pig iron (including direct castings) 000 tons 1,830 1,961 5,796 6,593 6,952 3,330 3,580 WFn1-hedi ut+ee lnnn t+on 1 _93 1 _60 3R6.56 40Q 459.S1° 2;21.O 2.280 Aluminium 000 tons 3.9 6.6 35.2 54.5 59.5 28.4 26.3 Copper 000 tons 7.2 7.8 9.8 9.5 9.4 4.5 4.5 MechanicaltEgineering Machine tools mil. rupees 4.7 12.0 U8.2 237.0 285.0 144.0 177.0 Sugar machine..ry MI . rA , Apes Z S 3.2 6 4 .3 8 O .6 79 9. 1 .O 3 5 2 0 power-driven pumps 000s 41 47 130 168 226 106 145 Automobiles OOOs 22 32 58 67 73 38 35 Bicycles 000 i. 64i. 1, ,L6 1 4 ° 1 S47 8013 Sewing machines OOOs 44 130 343 255 421 206 223 Railway wagons 0OOs - 16 17 24 25 13 9 MotOr cycles & ScooterS OOS - 5.8 23.9 33.9 41.6 21.0 19.4 Typewriters OOOs - 13.4 36.3 44.1 41.1 21.5 20.2 Electrical Engineering Power transformers 000 KVA 196 919 2,306 3,308 4,319 2,065 2,363 Electric motors 000 HP 143 359 986 1,318 1,702 823 952 Radio receivers ouus 83 151 343 475 583 260 320 House service meters OOOs - 230 578 1,216 1,101 540 529 Electric lamps c/ millions 16 30 55 67 67 32 35 Electric fans 0008 212 338 1,129 1,142 1,448 750 627 Bare copper wire 000 tons 3 10 5 6 4 2 1 Aluminium conductors 000 tons - 11 29 45 42 22 23 Chemicals Ammonium sulphate 000 tons of N 11 79 84 86 83 40 39 Superphosphate 000 tons of PO 25 10 14 75 118 115 61 55 Sulphuric acid 000 tons 109 168 469 679 678 344 320 Soda ash 000 tons 48 86 223 282 322 155 174 Caustic soda 000 tons 15 40 127 184 215 106 109 Cement mil. tons 3.2 5.0 8.6 9.7 10.4 5.2 5.4 Refractories 000 tons 241 323 671 660 688 371 356 Paper & paper board 000 tons 134 196 388 491 537 253 287 Auto tvres & tubes millions 1.7 1.9 3.4 4.3 4.7 2.4 2.0 Bicycle Tyres & tubes millions 8.8 12.7 23.5 31.3 36.0 17.7 18.2 Footwear (rubber & leather) mi!. pairs 28z8 42.7 61.46 60.8 69.0 34 4 33.6 Soap 000 tons 85 112 152 166 164 82 84 Petroleum products 000 tons 248 3,890 6,584 8,450 8,984 4,265 5,288 Textiles Cotton yarn mil. kgs. 591 758 860 965 939 478 433 1ayon yvrn -/ Onn tons 2.1 16.9 60.0 74.7 73.8 35.0 36.9 Cotton cloth (mill sector) mil. metres 3,727 4,852 4,560 4,654 4,587 2,330 2,070 Cotton cloth (decer.- tralised sector) mil. metres 1,013 1,634 2,410 3,065 3,056 1,537 1,h98 Jute textiles mil. tons 889 1,111 1,187 1,271 1,336 674 566 Woollen rfabrics r-1 Amtrte A 11 .1. 14 .. 9 1 3 1. 7 9. 9 4 I. 8 3 .6 Food Products S41 4 000 tons 1J,4314 1,890 2,714 2,59 3,2`0 __ J O Tea mil. kgs. 286 303 343 373 366 107 114 Coffee 000 tons 18.4 35.0 47.5 67.3 60.6 47.3 56.6 vanaspati 000 tons 175 260 369 359 426 225 i82 Electricity Power generated mil... 6wn 5'85 I, OL 21,4L7 28 8 J.L,38(O 15,13 16,9j4 a/ Tons cited are metric tons. h/ PrOVRi sOnal. c4' Excluding fluorescent lamps. d/ Staple fibre, viscose yarn and acetate yarn. e/ Estimated output for the full 1965-66 season. Source: Central Statistical Organisation TABLE 10: Money Supply and Allied Data a/ t'Rs. crores) 1950/ 1955/ 1960/ 1962/ 1964/ 1965/ 1951 1956 1961 1963 1965 1966 Money supply with public, total 2,022 2,220 2,868 3,310 4,080 14,!30 Currency with public / 1,i405 1,571 2,098 2,379 2,769 3,034 Deposit money with public c/ 617 649 770 931 1,311 1,l496 Index d/ 100 110 144 168 207 224 Rupee securities held by RBI e/ 595 738 1,852 2,194 2,567 2,771 Advances to Governments by RBI 2 - 39 55 74 211 Banks' investments in Government securities 347 398 591 629 755 851 Central Government' s deposits with RBI 162 67 76 56 91 51 Foreign assets held by RBI 884 746 136 116 86 .10 Bank credit to private sector 587 823 1,503 1,860 2,366 2,654 Time liabilities of bank _/ 331 166 1,095 1,213 1,418 1,605 of which PL 480/665 deposits fl/ - - (189) (68) - - a/ Revised series- Figures are with reference to the last Friday of each fiscal year. b/ Data on currency have been revisL_d to include ci rulatjThn of small coin. c/ Data on (i) deposit money and (ii) time deposits lith banks have been revised so as to exclude inter-hank deposits of scheduled banks for the entire period and non-bank "other" deposit liabilities from 1960/61. d/ Index nlmhbers of total money supply with the public have been calculated after making adjustments in the money supply figures for (i) non-bank "ot-er" deposit liabilities and (ii) withdra_ wa of crrercy (Rs 314.2 crores) from KuwJait during 1961/62. Ae IncluAding rdScUnedi tSr.t of Trreasu,aary BiP S by R .PT f/ This represents time deposits made to the Special Account held by the Ure. auReseori 4e Bank of India. and inf Source: Reserve Bank of India and information received by Mission. TABLE !i: Causes of Variations in Pioney Supp a/ (Rs. crores: expansionist effect , contractionist effect -) 1951/56 1956/61 1960/61 1962/63 1964/65 1965/66 Total increase in money supply with +198 +706 +194 +264 +328 +450 public Credit extension to Government b/ +245 +1,211 +114 +277 +287 +499 Credit extension to Others +24o +674 +238 +217 +247 +288 Effect of changes in time liabili- -136 -462 -106 -112 -194 -208 ties of banks b/ Effects of external -96 -674 -52 -27 -28 -35 transactions d/ O+ther ises (residual -5 -h3 __ -91 +16 -91L item) 1/ An -i; nt.i e-nz _n"c nq 'ho+.^clan + o I: c~+. 'Ry r;Hn-rc nf' anr-h r; .c rpn-r a/ Variaions areas between thie last Fr-iday ofeach fsa er l>/ Adjusted for the net char.ges in pT i90/665 deposits uith the S+ate Barn of India and also for the changes in other U.S. funds transferred from the State fBal.,T 4-. 4-t-o ---, the-R,esr A.-during 10 /6514f ard 195/66; a-lso Jnclusiive 4.' ~4( .L~LW L LAJ UJ. 1W,t' V~- LJ~Lj.fl UAJ. L.LLL, ..7J4 .)J ~..4 ./J(4".' .4'' ~ V' of Government's currency liability to the public arising from issue of one wnfl n a v ,. 4-c c.n eml .z1 I 1. e rue notesv s Wndd -WSMM1 iws111 / R-Yludes Reservre Bank- cred-;t 4to `r-`e sectlor. U.' EqA.juaCL UV LILC in (ne) fLo LI.j £O.Lt,1e n .L 1ae o eser-ve Bar-Lk'-. Source: Reserve Bank of India and information received by Mission. I \,D c\J 0 r- COC -r co 4:1 \ O'% IS \A(- ) \t a\ C.) r,\ ri4 r-i r- r-i r-l riA r- r-i ON HI H-(HH _,\ CN -z±t rU I\ CQ C\ rH O 11 rd \ r-i r-i r-i r-i r-A r-i r1i C) H NO rUl ~~O ON I C) NoOC)-3 \DO0 &, \ ';>1 2~~~~ c Cf~l\° _: -3 :Z1 (n hO HIo r rd rHH r-ri rH r- ON U) V~~V \O CZI~~~~~~~~~~- -- CN clDO O OD O\3 5\- __-I - Lr'L C\JHr- C\J (JC\J ('J C'lC C)O N0 o) O CD 0 (D O (D O ; to: g C r r-l rl r-l rJ r-i r-l rl . H X r r C, CU) NO CQ O E)1 ( D ri rQ Od U) .fl NO H~~~~~C II a) H HH \, cD mZ _) (D <:! G) (D *rlr 'd NOd h r du 4D ) 4-3 10 n o c 0 L,5 O) ±,LL5 LZI =100 Development expenditure, subtotal 570 720 913 1,107 1 197 Education 195 251 319 374 Health 81 107 129 153 174 Agriculture, Community development 118 148 196 243 2)6 Irrigation, Electricity schemes 37 42 54 70 73 Civil works 67 89 100 128 131 Other h/ 72 83 115 139 1.147 Non-development expenditure, subtotal 417 541 672 806 889 Collection of taxes and other revenue 66 59 72 81 93 Debt services i/ 81 153 207 276 31o Civil Administration 167 202 235 267 269 Other non-develonment i/ 100 127 158 182 187 1/ Figures for 1966/67 (Budget) are before tax changes; the Governments of Assam, Bihar, Jammu and Kashnmir, Madhya Pradesh, Orissa, Punjab, and Rajasthan have together proposed an additional taxation of Rs. 14.58 crores. i continued ... TablF.22 (cont'd) a/ Figures (from 1958/59 onwards) relate to the reorganized States. Figures for Jammu and Kashmir have been included (since 1957/58). b/ Estate duty, part of Income Tax and Union Excise Duties. c/ Until 1961/62 receipts from tax on railway fares are included in Tax Revenue, since 1961/62 the Rs. 12.5 crores grant in lieu of such taxes are included in Grants in Aid. A/ Includes receipts from civil works, receip-ts from various departments and until 1961/62 certain grants from the Central Government. e/ Forests, irrigation, electricity schemes, road and water transport, etc. / Comprises receipts on account of debt services, which from 1962/63 also include recoveries of interest from commercial departments hitherto adJusted in reduction of expenditure, stationery and printing and miscellaneous receipts; exclude transfers from reserve funds. 2/ Classification of development and non-development expenditure has been done on the basis of broad budget heads. h/ Scientific and miscellaneous departments, aviation, ports and pilotage. / Includes appropriation for reduction or avoidance of debt, figure from 1962/63 onwards innuiides interest charges on canital advanced to commercial depart- ments, hitherto booked in the accounts as reduction of expenditure. Pi. Expenditure on disilnacd nprsons; grants to local bodies. fanine, stationery and printing, etc. Source: Reserve Bank of India, Report on Currency and Finance, 1Q965/6. TABLE 23: Capital Budget of States (Consolidated) kRis crores' 1960/61 1962/63 196L/65 1965/66 1966/67 (Accts) (Accts) (Accts) (RE) (BE) Receipts, total 397 525 694 OMh 607 Expenditure on capital account, total b/ h50 496 689 933 673 Developr.-enttal, sub+otal 4 II( '.l ).1 399 I''ipurpose riverer valley schemes 6 55 63 61 52 ILrrigat-ion andu navigation 81 95 121 149 111 Electricity 25 25 37 -1Q 33 Public works 115 122 129 137 131 Industrial developments 15 23 32 h8 50 Others 12 10 19 30 22 Non-developmental c/ 24 24 - 110 28 Loans and advances by States (net) 132 142 288 408 246 Surplus (+) or deficit (-) -53 +29 +5 -109 -66 a/ Figures (from 1957/58 onwards) relate to the reorganized States. Figures for State of Jammu and Kashmir have been included (since 1957/58). b/ Excludes some items which have been netted out against receipts. c/ Mainly state trading and compensation to landholders. Source: Reserve Bank of India, Report on Currency and Finance, 1965/66. TAWri Lej: nez Absorption Ox Government Securities by _trie rublie ciice 1U I (Rs. crores) Cash Open Market Net Net Market Borrowings by Receipts Purchases (-) Absorption(+) Central and State Governments (net from/Sales(+) by the Cash Cash Net from the to the Public ' Receipts Payments Receipts public) Public b/ (4+5) (1-2)__ _ _ __ _ _ _ 1 2 3 4 5 --- First Plan 1951/52 24.3 49.2 -24.9 +1.7 -11.3 -9.6 1952/53 15.8 2.9 +12.9 +12.9 +20.5 +-33.4 1953/54 60.4 63.9 -3.5 +46.3 +34.2 +80.5 1954/55 160.7 50.0 +110.7 +67.2 +25.3 +92.5 1955/56 98.6 16.6 +82.0 +64.2 +28.9 +93el Total 359.8 182.6 +177.2 +192.3 +97.6 +289.9 Second Plan 1956/57 143.7 3.0 +1i0.7 +89.7 -19.1 +70.6 1957/58 99.7 29.0 +70.7 +28.1 +85.2 +:113.3 1958/59 241.6 14.8 +226.8 +105.6 +89.0 +19h.6 1959/60 208.3 33.6 +174.7 +82.5 +60.6 +143-1 1960/61 179.h LL.L +13k0 +61.L -125. -63.7 Total 872.7 12q.8 +7-A76.9 +367.3 +90¢6 +4 579 Third PlTn 1961/62 187.2 50.4 +136.8 +72.6 -37.0 +35.6 1962/63 22LI.6 !hl)2 +I RI +12l 2 -P2. -1 +99QI 1963/64 214.0 64.o +150.0 +56.0 +44.7 +1007 :L96)h/65 253.5 68.h+ +-85.1 +98.2 ~ 7h.6 +172.8 !965/66 261.8 27.5 +23h.3 +13947 -2.2 +137.5 Total 1,141,1 251.5 +889.6 +48907 +56,0 +545.7 al/ kigu- from 195C6/57 or,ards ; - - -T W *~-b*'.'-~' .-~-~ - ~d.dI..II ~ ~ J.LV-J. . A A = --L ± -I ' .4 EL 14 W fun . s Those for 1960/61 through 1963/64 are not strictly comparable to the figures for 4the ea lier ye-r consequent on 1he c hlg 4hrag.ment lnrear ULL L.± l J;-,Q± C U 'Jii ULIt- .L1Ur: .Li ULIU d.1-U± 1Vt IL1t:LiU0 LU11t,C.- to PL 480 funds from May 12, 1960. b/ n the Reser-ve '--'-s 'ves'ruent Account and the Centr-l Covernmlen'?s 'as' L( '.l ,J . U LL tZLVe12dJDUA LUV1 uLIt± I.AIU.iL U Ll1t k L* 1U dJL U VLiU LIU b U i11 Balance Investment Account. £.LLLI gures . ~a do 'AJ .uwra xnsac'M.Ul1 oi t~I 0t.udeu uu uuri~~ uj11 c, Fig-es doU noDU ,celt ulllo accWL;VA1 Ur scorls orn th tt overnmt-enrt' s Cash Balance Investment Accounts, the Bank's operations in State Government loans and repayment of State Loans held by State Governments. ,2'%;: There was also a collection of Rs. 10.36 crores and Rs. 16.25 crores on account of National Defence Loan 1968 and 1972 respectively up to February 1966 which is not included in the above statement. 5S,nrce: Reserve Bank of India. TABLE 25: India's Balance of Payments (.P rLlion ) 1950/51 1955/56 1960/61 1962/63 1964/65 1965/66 1. Imports, c.i.f. 1,366 1,6214 2,271 2,25-4 2 862 2 803 (a) PL 480 nil nil 389 2 (b) Others a/ 1.,36 1.62Ja 1.882 1,999 2.321 2,277 2. Exports 1,358 1,345 1,324 1,433 1,686 1,642 3. Trade Balance (2-1) -8 -279 -947 -821 -1,176 -1,161 L. Invisibles (net) excluding grants +85 +184 +7 -64 -121 -65 (a) Interest and service payments on foreig,n loans and credits - - -56 -89 -108 -12B (b) Other invisible transactions (net) +6 / 5. Current Account (net) excluding grants +77 -95 -940 -85 -1,297 -1,227 6. Private capital (net) -29 +22 +35 +1 -6 -39 7. Banking capital (net) +47 +19 +20 +12 -19 -31 8. Amortisation payments (gross) -7_/ -8 -71 -99 -140 -140 9. Repurchases of rupees from IJMF - -15 -22 - -100 -75 10. Other caoital transactions (net) -l5 -19 -8 +8 +8 -59 Total 6 to 10 -24 -1 -46 -78 -257 -345 11. Errors and Omissions -14 -11 -13 -9 -150 +50 12. External Assistance 20 129 875 94 1,453 1,486 (a) Loans 16 20 416 1 927 912 (b) Grants 4 109 70 47 44 49 (c) PL 480 - - 389 255 482 526 13. Drawings on IMF - - - 25 100 137 114. Change in foreign exchange reserves_/ +60 +22 -124 -5 -152 +101 (increase +) (dkecrease -) a/ Includes that portion of the P 480 freigbht charges which is financed out of Jndia's own resources. b/ This is a net figure. c/ Include changes in foreign assets held by the Reserve Bank and in balances held by Government abroad. di Including receipts under National Defense Remittance Scheme. Note: Figures in the above table for some items would differ from Reserve Bank's published statements from 1960/61 due to the following adjustments: (i) all receipts and payments in respect of FL 480 assistance have been grouped together and shown as PL 480 imports financed by PL 480 assistance; (ii) interest and capital repayments which are made in rupees (other than East European countries) have been excluded;! (iii) from 1964/65, the Reserve Bank shows under "private capital", receipts of direct official loans by the private sector and corresponding amortisation payments. In thIis table,these elements have been taken out of private capital, and receipts aye shown under "loans" and repayments under "amortisation". The RBI similarly shows, from 1964/65, Indus Basin payments under official transfer payments (donations). In this table, as in the past years, these are shown under in- visibles". Similarly, donations under PL 480 Titles II and III shown under "private transfers" by the* RBls.in.ce vO.. 4fl..4 CJ ..4 O u&hs a con-utJflVlJ4U lo le Su--- UaLCJ. u- afl.< , (iv) non-monetary gold movement in 1964/65 has been deleted as a receipt; decline in reserves has been correspondingly raised; (v) U.S. frAipht rAimbursemAnts have heen exl irieti fr import pmnts and visibls receipt. (vi) From October 1965 exports are shown on "negotiated documents basis" instead of the earlier Vshipments" basis. Source: Ministry of Finance. a/ TABLE 26: Payments for Imports (IRs. crores) b/ b/ b/ b/ c/ c/ 1959/60 1960/61 1961/62 1962/63 1963/67 1964/6g 1965/6K Cereals: PL 480 87 150 65 108 142 217 219 Others 68 64 53 59 57 85 72 Total 155 2 1t4 Md 17 199 302 291 Frut3 r,tsand v,egC4tables 18 17 13 I).1 19 19 lilk,fish, spices 12 6 6 9 7 10 9 Tobacco 1 1 1 2 2 1 1 Vegetable oils 4 4 4 4 4 4 13 Copra 11. 10 7 8 8 Li 3 GU,m.9s lacs, resins 2 2 2 1 1 2 1 T2 - ... A .I-. 2 7 2 1 2 2 '2 2 Rubber 7 11 13 11 10 6 5 Joodand cork 6 1 2 2 1 1 1 '?ulp 7 7 5 8 6 7 3 Jewsprint, paper and board 11 9 10 8 7 9 7 Textilc yarn and thread 13 16 12 12 11 11 7 '2A E-..,. j- --/ ,iI20 A' CA 1.A C12 lLaw U cotton 4C6 V_ Pa jut- 3 5 6 3 2 7 B ' ! *zol and wool tops 8 11 9 12 13 8 6 FPrt1li7,rs (manufactured) 16 6 15 15 13 15 27 J,es and colours 10 12 11 10 9 .9 7 Drugs and redi7iles 10 9 8 7 5 5 5 D her11ue:2icals 53 33 36 hI 35 36 39 Petrolaur: and products 86 87 88 83 98 86 76 Tron and steel 47 81 90 77 71 74 71 Non-ferrous metals 39 30 31 41 35 Li 49 Noetal manufactures 25 13 16 13 15 16 19 Electri2al goods 15 17 20 20 21 18 15 a r-- 4 e6 .21 2Q8 3n9 L1 7 38n e/ Transport equipment: -Road transport 32 43 40 31 30 36 27 Railway3 16 22 18 29 30 18 18 3hippi;ng 1 11 5 2 2 2 46 Other imports 59 13 117 1 9 ° 151 173 181 Total 932 1,106 1,006 1,097 1,243 1,396 1,335 a/ Based on balance of payments data which include PL 480 freight reimbursements until 1964/65. '+ar-rt.ingv in 1965'/A66 qnch frepigh.t rpim hii rsMPn+ts huav hpbn P,cliiciei* h I1 Revised. c/ Preliminary. d/ The figures for this item are inclusive of PL 480 imports of Rs. 6 crores in 1959/60, Rs. 35 crores in 1960/61, Rs. 21 crores in 1961/62, Rs. 12 crores in 1962/63, Rs. 20 crores in 1963/61$ and Rs. 9 crores in i 6h/65. e/ Excludes aircraft. f/ iin nrivate arrniunt. L/ Includes defence equipment, civil aircraft and cormunication stores on Government account and ot- items on private account. Source: Government of India, Ministry of Finance. TABLE 27: Receipts from Merchandise Exports (Rs. crores) 1959/60 1960/61 1961/62 1962/63 1963/64 1964/65 1965/66 Fish and fish preparations 6 5 4 4 6 7 7 Cashew kernel's 16 1918 IC) 21 20 27 Other fruits and vegetables 6 7 7 7 9 8 7 Spices 14 17 18 114 16 17 23 Sugar neg. 2 15 17 26 21 11 Coffee 6 7 9 8 8 13 13 Tea 129 124 122 129 123 125 115 Tobacco 2 15 16 15 19 23 26 21 Total Food, drink and tobacco 192 197 208 217 232 246 224 Oilcakes 21 14 17 31 35 40 35 Vegetable oils -' 17 13 11 17 23 10 6 Hides and skins 11 0 11 10 0 kiaw cotton and waste 15 12 20 17 17 14 12 Raw wool and hair 12 8 9 7 7 9 7 Other textile fibres 6 2 4 5 7 8 n.a. Gums, resins and lac v 8 9 7 7 8 7 7 Total Other agricultural products 90 67 76 95 107 97 77 Mica 10 10 10 10 9 10 11 Iron ore 15 17 35 35 36 37 42 Manganese ore 12 14 11 8 8 13 11 Other ores and scrap 9 8 9 4 6 8 n.a. Coal and coke 5 2 4 3 Petroleum products 3 4 4 5 7 8 6 Total Minerals 54 56 71 65 68 80 73 Leather and manufactures 31 25 25 23 26 27 28 Footwear 3 3 2 3 4 4 5 Cotton fabrics 5i 48a la to I U() U UUII I dUVIUS 01~ ~ ~~~ ~~~~4 )0 140 140 )4 ~ i)o Artsilk fabrics 2 3 7 7 11 7 5 Woollen manufactures 6 6 5 5 9 7 7 Jute manufactures 110 135 146 150 155 168 183 Coir manufactures a/ 9 9 11 12 12 11 11 Total Leather and fibre manufactures 225 239 244 248 271 282 294 Iron and steel (excluding ferro-manganese) 1 5 4 2 2 4 8 Ferro-manganese neg. 4 6 1 2 6 4 Metal manufactures 1 2 2 3 4 4 4 Machinery and transport equipment 3 4 4 4 6 9 10 Other exports 64 76 60 72 97 85 112 Re-exports 10 10 5 7 i 3 4 Total other exports and re-exports 79 101 81 89 115 111 142 Total exports and re-exports (customs data) 640 660 680 714 793 816 810 Adjustments to bring into line with balance of payments figures -13 -29 -12 -32 +9 -13 -28 Total exports and re-exports (payments data) 627 631 668 682 802! 803 782 c/ a! Excludes certain items which are not identified separately and are included in i"other exports." h,/ Tncludes "lessential oils." c/ Exports data in balance of payments for 1965/66 are on the 'negotiated document basis' beginning with October 1965 instead of the earlier shipments basis. Note: Items may not add to totals due to rounding. TABLE 28: Selected Invisible Transactions (Rs. crores) 1950/51 1955/56 1960/61 1962/63 1964/651/ 1965/66a/ Transport: Receipts 30.1. 38.3 hh.6 L9.3 56.4 53.5 Payments 8.6 15.0 24o6 27.8 32.7 27.8 Net 21.5 7~7 20..0 277 23.7 74 7 Tnsuirance: Receipts 8.3 9.5 8.1 7.7 7.2 11.7 Payments 2.9 5.1 5.8 .9 ) )96. Net _ 4_4 2.3 _ 2.3 Foreign Travel: Receipts 14.6 11.8 15.3 15.6 2.3 1.14 Payments 17.0 12.1 12.1 11.7 10.3 10.6 INT e t _ r = -0.3 3. _° 0 Invest,mienT Income: Receipts 7.2 29.8 14.2 10.8 11.2 10.9 Pay,men's 31.3 29.9 61.9 914.l4 " 8.6 130. A Net -21. 0.1 -177 --T77 -107144 -119.7 Private Donations: Receipts-/ 140.8 57.6 14.9 10.1 52.0 87.62/ Payments 5.8 20.5 16.8 14.1 16.6 15.7 Net 30 37.1 -70 -.1 71.9 a/ Provisional, D/ PL 1480 Titles II and III grants shown as receipts under official dona- tions till 1963/64 are included as receipts under private donations. c/ Including receipts under National Defence Remittance Scheme. Source: Reserve Bank of India. TABLE 29: Import and. Export Indices _ xpforts _ mports Year Average Average Terms of Quantity unit value Quantity unit value Trade (Base 1952/53=100) 1950/51 112 92 106 80 115 1954/55 105 98 110 89 110 1955/56 115 90 116 87 103 1956/57 110 94 137 91 103 1957 119 94 156 98 96 1958 108 93 1h0 92 101 (Base 1958=100) 1959 107 100 110. 93 '107 1960/61 100 110 128 96 '115 1961/62 105 109 121 98 '111 1963/64 126 105 135 97 '108 1964, /65 135 'I n7 no 10V7 0 0'1 I7o 4 _ e _) L.j r _:_A 1965/66 124 i3 104 d109 0ourc% L'Dep artmtent 01± UIlLJ1. LLJt:"tt:AA LJ0UtLZ.L0 TABLE 30: Exports of Selected Commodities by Quantity Commodity 1960/61 1961/62 1962/63 1963/64 1964/65 1965/66 Tea (mil.kgs.) 199 207 221 210 212 197 Jute manufactures ('000 tons) 799 803 8L9 930 960 900 Cotton textiles (mil.mtrs.) 628 513 51h 568 523 553 Manganese ore ('000 tons) 1.166 995 762 966 1.552 1L.352 Iron ore ('000 tons) 3.150 9,800 8.800 9,400 10,500 1.2,300 Mica ('000 tons) 28 28 34 30 31 43 Raw cotton ('000 tons) 33 62 59 56 47 36 .Sugar ('non tons) 56 285 1416 1433 271 '11 Tobacco (mil.kgs.) 47 46 63 66 81 59 Lac ('000 tons) 27 21 21 21 17 lb Linseed oil ('0r0 tons) 7 g neg nelg. neg Castor oil (00+-ns 1.7 25 if 36IA 19 11 '..d- £4 1 ) Groundnut oil ( 000 tons) 1 7 58 97 1 neg. Oil cakes ('000 tons)433 506 835 936 975 829 n P-0 t I o.on 4. _ _ ) on no% It / n -, or7 , j.et: e I 'UVU uUI1o LU )U LU L) _L I Coir manufactures (f000 tons) 71 75 77 76 75 70 H ides and skins raw ('000 tons) 12 12 14 12 12 ii Source: Director General of Commercial Intelligence and Statistics, Calcutta. T AAI J11'W 1 J . T ----H bo V- U. CZ-- - Rerions/Countries 1951/5~2 1955/56 196o/61 1962/63 196L/65 i96q/66 o roin f-,nld\ QnrI-,-,-,d~~~~~~~~~~~~ ~~o,L Idr-r ,d\ riLD f-r Z&% ,.r I-r, \ e'r /rr 2. Canada 190 ( 2.0%) 68 (1.0%) 199 (1.7%) 169 (1.5%) 265 (2.0%) 305 (2.3%) 3. West Europe 2,80 (29.3%) 3,252 (47.9%) 4,078 (-9.3%) 3,728 (32.8%) 3,709 (27.5%) 3,890 (27.9%) U. K. 1,708 (17.6%) 1,727 (25.4%) 2,127 (19.1%) 1,856 (16.3%) 1,637 (12.1%) 1,091 (10.7%) Eropean Common Market 80.5 , o.0o) 1 ,189 (11-7.5) (17Y .2% O,) 1,5801 (13.9%Y~) 1 724 (1I2.8%7) 2 LI 00 i L. 7%) of which: Belgium 129 121 92 France 112 155 211 102 1.79 176 Germany (West) 289 603 1,225 987 1,093 1,369 Italy 181- 165 260 222 226 192 Luxemwanbourg, neg L neg. neg. neg. Netherlands 123 101 105 138 138 197 Other W4est Europ)e 299( 3.1%) 336 ( .9%) 307 ( 3.0%) 291(26 3h9 2 .6%) 353( 2.5%) of wjhich: Sweden 7579 1.19 Eg112 o Swiitzerland 100 121 100 100 11.9 105 Irish Republic neg. neg. neg. neg. neg. neg. It. Oonr-. 7p'1 (gP '7r11 1 7)0 (Q ')C ) 7 0 047 ( IA I -' o OPO (On osN o orOc (-,A -,W) I A.r Ad ' E.C.A.F.E. 2,510 (25.9%) 1,009 (20.7%) 1,793 (15.7%) 2,000 (18.0%) 2,021 (i5.0%) 2,150 (15S.0%) of which: Australia 17b 135 17d 203 207 201- Burva 235 96 137 91 103 911 Ceylon 56 90 li1 82 57 00 Malaysia 02 05 135 107 103 128 New Zealand 21 25 15 18 9 20 indon I cf it O 0)1. 00 22 Iran 289 100 296 059 290 301 China 159 Lb 26 10 neg. - Pakistan 875 271 100 167 165 57 Thailand 116 5 7 10 31 289 Jap)an 255 330 608 609 782 792 Rest of Asia and (ceania 268( 2.8%) 341( 5.0%) 270 ( 2.0%) 209( 2.2%) 23L 1.7%-) 1.59( 1.1%) of vWi1iULh Aden [12 20 29 19 , Bahrein 109 82 50 51 25 20 K-uwait 1 03 1 2 3 neg. Saudi Arabia 100 152 102 120 135 87 5. Africa 831 (8.6%) 707 (10.0%) 707 (6.2%) 563 C. 0.o) 658 ( .9%) 558 L .0%) of which: Egypt (U.A.R.) 46 _231_5T__9 7 200 Kenya 186 219 120 57 70 06 Mozambique 30. 05505310 Nigeria --5 5 1. 10 2 Rhodesia and Nyasaland 6 6 136 0028 1e Sudan 143 127 90 171 90 57 6. Soviet Bloc 51 ( .5%) 109g 1.6%) L003 3 3.9%) 1 101( 9 8%) 1 050 (10.7%) 1 56 (11.2%) of which: U.S.S.R. __ 77 :!~ Czechoslovakia 28u 29 88 19 198 1 Gensmany (East) neg. 0 33 78 89 130 Poland 3 0 00 81 150 137 Yuigoslavia 1 2 00 79 110 119 7. La~tin Amoeric. 51 ( 0.5% 37 n 0.5%) lB n-O2) 17 n 0.1% 07 ( r.) -A ~ l r 9 of which: Argentina 16neg. 1 1 2 3 Cuba 7eg1 7 1neg. - Total World 9,_700 (100%) 6,788(0) 11,397 (100%) 1136(100%) 130 (200%) 13,901 (100%) Note: The break-up of items 1 to 7 may not add up to total due to revisions. Source: D.G.C.I.S.S., Calcuitta Peaions/Countries 1951/52 195-5/-56 196o/61 1.962/63 i9614/65 1-965/66 1. U..I 1 oI. A1 .v nd 71 (1), kt'4 Inc 1 raO : 0',f 1 I rOV(I plA I~ 1, lA fiR I F r 1 )7p I1 A .Io- 2. Canada 163 C2.2%) 1140 (2.14%) 176 (2.7%) 222 (3.1%) 175 (2.1%) 203 (2.5%) 3. I-est Europe 2,j559 (314.9%) 2,380 (39.9%) 2,398 (36.3%) 2,14514 (314.14%) 2,1418 (29.8%) 2,200 (27.2%) U1. K. 1,897 (25.9%) 1,662 (27.8%) 1,725 (26.1%) 1,6145 (23.0%) 1,673 (2-0.5%) l,1461 (18.1%) Djropean Conmon MarketA. i 0r~ Cf OA I, l A t, (7Al E~4 Oc: 7 O`Y_ C071 C7.rl ca ~ 1:0 C AlP of' which: Belgiuim 905 - _T1_9 France lii71 88 03 1.21 11-2 Ge-rmany ( ~Iest) 914 1149 199 18717 182 Italy 80 96 93 117 100 85 Luxembourg neg,. neg. neg. neg. neg. neg. Netherlands 79 1514 85 99 92 79 Othc,,..r 1.I,,4t Euop 211 (I2 7 o'It -1 CA 7 7t'4 10 s' IiC7~~ 170C 9 i P0. I O. 7W of whichi: Sweden 267 17 Switzerland 21. 10 114 35 145 36 irish R-epublic 65 58 50 348 143 1.Asia and Oceania 2,252 (30.7%) 1,771 (29.8%) 1,657 (25.1%) 1,680 (23.14%) 2,038 (2.% ,876 (23.2%) E.C.A.F.E. 2 052 (28.0%.) 1,53.14(25.14%) h2 (21.6%) 1 2.3%) 1_6___ 1 % 56(1.% of whi ch: Australia --- 2200 Burma 1-98 125 66 51 614 36 Ceylon 168 205 I.81 1314 11414 129 Malaysia 38 141 60 67 55 123 New Zealand 79 146 714 63 514 66 Indonesia 145 117 31 141 18 8 Iran 142 52 514 614 1 60) China 71 65 53 1 neg. neg. Pakistan 1453 814 103 95 98 Thailand 80 32 32 20 28 16 Japan 1148 302 353 14141 609 570 Rest of Asia and Oceania 200 (2.7%) 261 ( 1.14) 233 (3.5) 231 (3.2%Z) 260 (3.3%) 289 (3.6%) of which: Aden 7 _35 _T 0_7 Bahrein 114 23 23 18 21 16 Kuwait 38 35 314 U4 141- 19 O.adi.Arabi 10 Al 17 27 71 ( 5. Africa 506 (6.9%) 1494 8.3%S) 1490 7.14% Q00O 7.0%) 1462 (5.7%) 619 (7.6%) oi which: 6gypt, (U.Ak.!.) 0~ I3 13. W 271 Kenya 88 61 149 55 53 149 Mozambique 9 8 12 8 13 C) Nigeria 71 82 57 62 51 140 Rhodesia and Nyasal-and 36 30 16 22 19 9 Sudan 77 56 95 90 614 82 6. Soviet Bloc 88 (1. 2%) 53 ( 0.9%) IW6O 75~ 927(3l% 1),1439 k_(.7.6) 1,500 k.L1 I.f) of which: U.S.S.R. 693 - 73779 9 30 Czechoslovakia 13 13 13 73 116 159 158 Germnany (East) neg. neg. neg. 33 85 129 137 Poland 3 3 39 116 112 91 Yugoslc 1av,ia 3 33 133 115C 11 I 7. Latin America 1479 ( 6.5%) 21-8. 37%) 166 ( 2.5%) 3 70 ( 2.14%) 116 io.8) 01 ( . 1.4 of which: Argentina 17113. 01(Li Li Cuba 1114 145 73 35 17 3 Totapl Ulorlcl 7.-129 (InnWV .C.OA (lool) 0.(60? (1nn, 7 -1360 n0oo4 P, 16 (, Onr) n8 ( i onT) Note: The break-up of items 1 to 7 may not add up to total due to rev-isions. Source: D.G.C.I.S.S., Calcutta TABLE 33: Gold. and, Foreign Exchange (in $ million) Change in Last Reserve Bank Total serves over Commercial riday ~~~~of' TIndia/ I'-v er .=,.n Oflilpeou peri od Da-I-s 1v51j ') _L w - 1, - 5, 30 1955 1, 791 76 1,866 -77 34 1956 1,360 75 1,435 -43i 1960 566 104 670 -765 1961 763 102 665 -5 4i 1962 450 62 512 -153 50 i963 469 138 607 +95 47 1964 December 447 51 498 -109 63 196o December 460 139 599 +101 45 1966 January 474 144 618 +19 7 Februar- 481 132 613 -5 75 March 474 152 626 +13 55 April 636 173 809 +183 60 May 605 192 797 -12 58 June 584 191 775 -22 65 July 470 210 680 -95 n.a. August 470 189 659 -21 n.a. September 507 149 656 -3 n.a. October 496 134 630 -26 n.a. November 2/ 506 100 606 -24 n.a. December 2/ 515 89 604 -2 n.a. 1967 January 20 2/ n.a. n.a. 592 -12 n.a. February 3 _/ n.a. n.a. 588 -4 n.a. 1/ Includes $247 million in gold through 1964, $270 million in January 1965, $281 millo I thereaft-- P4er T---hJa.ur 10A4, rd - 2JA m)llo since then. 2/ Preliminary. ''olurces: International Financial Statistics and data obtained from the International Monetary Fund.. TABLE 34: Utilization of External Assistancea/ (US $ million) 1961/ 1962/ 1963/ 1964/ 1965/ Third Spillover 1962 1963 1964 1965 1966 Plan to Fourth Plan Grand Total 711.4 941.1 1,245.6 1,507.4 1,598.3 6,003.8 a2591.4 Loans, subtotal )483.4 651.9 829.0 1,018.3 1,0l45.0 ,027.6 2,318.4 Consortium Hiembers: 131.7 582.1 719.9 846.2 928.0 3,507.9 1,652.7 Austria - - 2.5 2.9 4.5 9.9 7.9 Belgium - - - 2.5 7.8 10.3 13.7 Canada - - 1.7 12.2 10.3 2h .2 )40.8 France - - - 27.3 16.8 44.1 74.9 Germany 138.6 56.8 64.7 194.2 97.0 461.3 215.6 Italy - 0.4 14.0 5.4 24.5 24.5 1h6.3 Japanb/ 17.8 23.9 h3.8 53.1 64.8 203.4 127.4 Netherlands - - - 5.8 14.L 19.9 28.0 United Kingdom L8.3 62.5 73.0 83.9 90.3 358.o 151.8 United States il9f 3)49 0 )409.8 380.7 383.4 1 ;71.9 507.7 TBRDn/TDA 78.0 89.5 119.7 159.6 223.6 ARm-)n 337.6 iqon-consorti Eum 7 AC . 19 .1 172 1 117 5 L19.7 6A657 TJ.S.S.R. 51.6 68.1 99.3 136.)4 79.7 )435.1 )421i.9 Other 0.1 1.7 9.8 35.7 37.3 8s4.6 2A0.8 1UT ) -J ...4 4. 1 1.o 701 o) 00±)4 I C/ Canadua 199 1. 19. 244 39. iC, 86. TT . . , ... _ a/ Includes all aid committed in terms of agreements signed up to -f^c31, '966.e 1..%L .)-L, .L7 'JU. b/ Includes Japanese ad hoc credit of 1959, amounting to $18 million. -*o Net carry-over. ''ource: Ministry of Finance. TABLE 35: Estimated External _Lebt utstancoing ,By Creitors As 0O' April 1, 19-66 17/ ($ million) Official Supplier Percent of Creditor Assistance Credits 2/ Total Total Total 6,216.6 3/ 698.7 L/ 6;915.3 100.0 Consortium Subtotal 4,951.5 655.4 5,606.9 81.1 Austria 16.1 1.1 5/ 17.2 .2 Belgium - 22.8 / 22.8 .3 Canada 75.0 - 75.0 1.1 France - 131.1 C/ 131.1 1.9 Germany 598o 135.9 D 734 4 10.6 Italy - 144.9 7/ 144.9 2.1 Japan 310.9 128.0 5/ 4-38.9 6.3 Netthprlands 30.n 10.5 / )bO .6 U.K. 708.9 46.2 C/ 755.1 10.9 u.s. 1,910.2 35.0 1,9r5.2 28.1 Bank 716.3 716.3 10.4 M A. i~~~~~ r) c~~~~~,R~ 8.n,C Subtotal 1 265.1 43.4 5/6/ 1, 308.4 18.9 ofJ. w; USSR±L 90L4.7 _ - 7LL4. _ 1/ Supplier credits are in most cases reported as of January 1, 1966. ;5/ Excludes a rel-tvely -s,r '1-r.unt o rurrte upirceq n supplier credits extended outside the c osortium for which data are not 3/ Includes approximately $1.9 billion undisbursed. MP - AI tA- - -- 4/ Includes approxilately zp .4 uLiion un2ri5uurseu. 3/ Includes both principal and interest liabilities totaling about $460 million wnere these servicing components cannot be separately ideritil'ued. 6/ Credits from Swiss banks. Source: Staff estimates based on (1) GOI annual Reports on External Assis- tance, (2) Exchange Plan Data and (3) "Quarterly Reports on the Utilization of Aid." TABLE 36: Estimated Annual Service on Debts Outstanoing as of' April 1, 1966 ($ million) Principal Interest Total Service Total Repayments on Payments on on Supplier Debt Year Official Aid Official Aid Credits Service Total 1966/67 - 1970/71 1,395 763 307 2.466 1966/67 217 140 94 451 67/68 244 154 65 463 68/69 286 160 56 502 69/70 322 158 47 527 70/71 326 151 45 523 Total 1971/72 - 197'5/76 L,675 603 141 2,419 1971/72 332 146 40 518 72/73 334 133 33 501 73/74 342 119 28 489 74/75 333 108 24 464 75/76 334 98 16 447 Total 1976/77 - 1980/81 15226 _24 9 1,558 1976/77 307 8A 9 hO2 77/78 291 74 - 265 78/79 245 63 - 307 79/80 209 54 - 262 80/81 174 46 - 221 Toal 1981/82 1985/86 O13 - 78R 1981/82 148 41 _ 189 82/83 128 36 - 1614 83/84 121 32 _ 153 84/85 114 29 _ 143 o85/613 139 Note: Details may not add to totals because of rounding. Source: Staff estimates based on same information as Table 35. TABLE 37: Fourth Plan Outlays -n --iat-ment ans crores; 1965/6 pH ces)m Private Total Total Head of Development Public Sector Sector Invest- Plan Total Current Invest- Invest- ment Outlay Outlay ment ment (Public and p, 4zvate Sectors) Agriculture, community development and cooperation 2,410 835 1,575 900 2,475 3,310 Irrigation 964 1/ - 964 - 964 964 -5 ,1r4 0o> 2,3 y.05 90 ,3415 4,274 Power 2,030 = 2,030 50 2,080 2,080 Small industry 370 140 230 320 550 690 Organized industry and mining 3,936 - 3,936 2,350 6,286 6,286 Transport and communi- cations 3 010 _ 3 010 6 3 640 3 640 T 919,2 3,30 11 Education 1,210 740 470 90 560 1,300 SC c,-+.*j-m C ri 1' v I on, I Ln Health 492) Family planning 3/ 95) 343 244 - 2144 587 Water supply 373 - 373 - 373 373 Housing & construction 4/ 280 - 280 1,500 1,780 1,780 Wielfare of backward classes 180 115 65 - 65 180 Social welfare 50 4o 10 10 20 60 Craftsmen training & labor welfare 1 5 65 80 - 80 Public cooperation 10 7 3 - 3 10 Rural works 95 - 95 - 95 95 Hill areas and special areas 50 15 35 - 35 50 Riehabilitation 90 30 60 - 60 90 3,210 1,I7 1,b05 7 3,405 4, 10 Other programs 70 20 50 - 5 70 Inventories 5/ 5/ 50 1,900 100 1,0 Total 16,000 2,4oo 13.600 7.750 21,350 23;750 1/ Includes Rs. 24 crores for Tenughat Dam (Bokaro). 2/ An additional amount of about Rs. 70 crores has been provided for scientific research under agriculture, healtn, industry irrigation, power transport, etc., bringing the total provision to Rs. 216 crores for scientific research as a whole. 3/ Department of Family Planning has proposed an additional outlay of Rs. Ji4] crores in the Fourth Plan. It has been decided that any additional amount that this program can usefully spend will be provided through the Annual Pl'ans. h/ In additinnj funds, are liklv to be avaiableh from +th Tife TInsurance ------- tion and the Employees' Provident Fund for investment in housing programs. i/ Part of the inventories under public sector is covered in sectoral outlays, part will be financed through the banking system. Source: Planning COmLission; Fourth Five Year Plan, Draft Outline; P. 41. 'T ADT Fourt Plan - PI M. T3rget Percentage Item Unit 1964-65 1965-66 1970-71 increase in (actuals) (esti- (targets) 1970-71 over mates) 19b4-65 1965-6 Agriculture and coope ation Tndex n,,mhOr n+ 9 cultural production 1949-50=100 158.4 158. 207.8 31.2 31.3 Foodgrains production million tons 89.0 90. 120.0 34.8 33.3 Nitrogenous fertili- zers consumed 000 tons of N 555 600 2000 260.4 233.3 Phosphatic fertili- zers consumed 000 tons of 149 150 1000 571.1 566.7 Short and maiu1lmP term loans advanced Rs. crores 331 400 650 96.4 62.5 Industry Index number of in- dustrial productionY 1956=100 174.7 181.6 306.0 75.2 68.5 Production of: Steel ingots million tons 6.1 6.2 11.7 91.8 88.7 Aluminium 000 tons 514 65 330 511.1 407.7 Machine tools (graded) value in Rs. crores 20.0 23.0 105 1425.o 356.5 Sulphuric acid 000 tons 695 664 2400 245.3 261.4 Petroleum products million tons 8.4 9.9 20 138.1 102.0 Cloth: Mill-made million meters 4676 4434 5486 17.3 23.7 Handloom,power- loom and khadi million meters 3147 3146 4572 45.3 45.3 Total million meters 7823 7> Sav--ug; ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ----- --2 15,.7 kJd. V L, , Source: Planning Commission U, -) r7. VV U_L TCf.,.. -. Public Sector Plan Outlays itR9. uirUes,5 i7u2s/ prices} Total Fourth Plan 1966-71 196/67 97/6 1 60 0 Balances from Current 3,345 341 493 698 828 985 Revenue Surplus of Public 1,3h5 252 242 261 282 308 Enterprises Railways 260 34 h2 51 151 72 Central Undertakings 1,085 218 200 210 221 236 other than railways Capital Receipts 3,880 577 654 751 875 1,023 Market Loans (net) 1,500 209 2 31 144 Small Savings (net) 1,000 135 156 188 235 286 Annuity Deposits (net) 150 35 33 31 28 23 Provident Funds (net) 565 88 98 111 125 1h3 Misc. Capital Receipts 665 110 123 136 1142 154 (net) Budgetary Receipts 4h700 900 1,000 1,050 95'0 800 corresponding to external assistance Additional Taxation 2.730 1gN 365 555 730 92') Total Resources 16jO00 2225 2,751, 3,315 3-6,65 Oil Source: Planning Commission. rr AnT V 8 o-; . 1-:ab~L Private Sector Investment (Rs. billion; 1965/66 prices) Source Amount 1. Private saving 96.70 (1) Non-financial corporate sector 11.5 (2) Financial corporate sector 0.55 (3) Cooperatives 0.80 (4) Households 83J70 2. Government draft on private saving 36.50 3. Private saving available for private investment (1-2) 60.20 4. Retained surplus of the Reserve Bank available for private investment 1.25 5. Net inflow of funds from abroad 6.85-' 6. Surplus available from depreciation provision in the Drivate corporate sector (depreciation provision less 9.10 replacement outlay and addition to cash and deposits) 7. Total resources available for the private sector (excrlusive of' cpnit21 transfers to the nrivate 77-10 sector included under public sector outlay) 1/ Tn terms of nosf_-dPvqluation rupnee. Source: Planning romi.issionn