The Economic Survey of India, 1997
| Financial Year | Annual | Financial Year | Annual | ||||||||
1995-96 |
1995-96 |
1996-97 |
1995-96 |
1996-97 |
1995-96 |
1995-96 |
1996-97 |
1995-96 |
1996-97 |
||
Mar.31to |
Mar.31to |
Mar.31to |
Jan.20to |
Jan.19to |
Mar.31to |
Mar.31to |
Mar.31to |
Jan.20to |
Jan.19to |
||
(Rs. crore) |
(Per cent) |
||||||||||
I. |
M1 (Money supply with the public) |
22106 |
8163 |
11507 |
25571 |
25450 |
11.5 |
4.2 |
5.4 |
14.6 |
12.7 |
| II. | M3 (Aggregate monetaryresources) |
70409 |
43647 |
63697 |
76756 |
90459 |
13.2 |
8.2 |
10.6 |
15.4 |
15.7 |
i) |
Currency with the public |
17480 |
15870 |
13084 |
18886 |
14694 |
17.4 |
15.8 |
11.1 |
19.3 |
12.6 |
| ii) | Demand deposits with banks |
4669 |
-10649 |
-2507 |
3545 |
12811 |
5.3 |
-12.1 |
-2.7 |
4.8 |
16.5 |
iii) |
Time deposits with banks |
48304 |
35485 |
52190 |
51185 |
65009 |
14.2 |
10.5 |
13.5 |
15.8 |
17.4 |
iv) |
Other deposits with RBI |
-43 |
2942 |
930 |
3140 |
-2055 |
-1.3 |
86.9 |
27.8 |
98.6 |
-32.5 |
| 1 | Net bank credit to Government (A+B) |
34991 |
28230 |
29464 |
35062 |
36225 |
15.7 |
12.7 |
11.4 |
16.3 |
14.5 |
| A) | RBI’s net credit to Government (i+ii)2 |
19871 |
14961 |
3986 |
21121 |
8896 |
19.6 |
14.7 |
3.3 |
22.2 |
7.6 |
i) |
Central Government3 |
19855 |
17091 |
5608 |
21106 |
8372 |
20.1 |
17.3 |
4.7 |
22.2 |
7.2 |
ii) |
State Governments |
16 |
-2130 |
-1622 |
15 |
524 |
0.6 |
-83 |
-62.8 |
3.6 |
120.5 |
| B) | Other banks’ credit to Government |
15120 |
13269 |
25478 |
13940 |
27329 |
12.5 |
11 |
18.7 |
11.6 |
20.4 |
| 2 | Bank credit to commercial sector (A+B) |
48179 |
33964 |
17974 |
54413 |
32189 |
16.5 |
11.6 |
5.3 |
20 |
9.9 |
| A) | RBI’s credit to commercial sector4 |
262 |
-93 |
-568 |
-72 |
-213 |
4 |
-1.4 |
-8.3 |
-1.1 |
-3.3 |
| B) | Other banks’ credit to commercial sector |
47917 |
34057 |
18542 |
54485 |
32402 |
16.7 |
11.9 |
5.6 |
20.5 |
10.1 |
| 3 | Net foreign exchange assets of the banking sector5 |
-628 |
-458 |
11481 |
5345 |
11311 |
-0.8 |
-0.6 |
14.9 |
7.4 |
14.6 |
| 4 | Government’s currency liabilities to the public |
7 |
58 |
461 |
271 |
410 |
0.3 |
2.4 |
19.3 |
12.5 |
16.8 |
| 5 | Banking Sector’s net non-monetary liabilities other than time deposits |
12139 |
18146 |
-4317 |
18335 |
-10324 |
19 |
28.4 |
-5.7 |
28.8 |
-12.6 |
Data for RBI relate to March 31 after closure of Government Accounts. Variations in respect of scheduled commercial banks are based on data for last reporting Friday of March. The data for 1995-96 are not strictly comparable with those of 1994-95, as M3 data for 1994-95 include scheduled commercial banks’ data for 27 fortnights while for data for 1995-96 include 26 fortnights. All figures are provisional.
Includes special securities.
Includes Rs.751.64 crore (equivalent of SDR 211.95 million) incurred on account of Reserve Asset subscription to the IMF towards the quota increase.
Excludes, since the establishment of NABARD on July 12, 1982, its refinance to banks.
Inclusive of appreciation in the value of gold following its revaluation close to international market price effective October 17, 1990. Such appreciation has a corresponding effect on RBI’s net non-monetary liabilities.
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The Economic Survey Of India, 1997
Document released by the Ministry of Finance, Government of India, on 25th February, 1997.
Made available on the Web on the same day, by MediaWeb India, on The Indian Economy Overview (http://www.m-web.com).Please contact the WebMaster for any information or feedback.