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Macroeconomic & Monetary Developments Q3 Review 2011-12 By RBI

The Reserve Bank of India (RBI) released the Macroeconomic and Monetary Developments Third Quarter Review 2011-12 yesterday. This very document gives a preliminary idea of to the Monetary Policy Statement that is going to be released on January 24, 2012.

Global and domestic factors have shown a strong negative effect on the Growth outlook, weakening it. Due to high inflation and expectations of inflation, the growth in 2011-12 was expected to be less but the statistics turned out fine. However, the global economy isn’t in a good position.

Median Forecasts of Select Macroeconomic Indicators by Professional  Forecasters 2011-12 and 2012-13

Median Forecasts of Select Macroeconomic Indicators by Professional Forecasters 2011-12 and 2012-13

With austerity in progress and Sovereign debt crisis, the euro-area has chances of entering recession. Due to all these factors like credit conditions, risk premier, de-leveraging, low growth in the European area, global financial markets are under stress.

Coming to Indian economy, weakened global growth is reinforcing Indian markets to slow down. Though agricultural prospects have no effect on them, industrial growth can’t be seen due to low export and domestic demands.

You can find out more details about this Macroeconomic & Monetary Developments report from RBI in this official release document. The overview of the entire report can be found in this PDF document.

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