292
Table 6A.5. Impact of the Crisis: Summary FY98 to FY03
FY04 to FY08
Change from Highest 2-year average Expected potential value FY98–FY03 to FY04–FY08 before crisis just prior to the crisis
GDP growth (%, at factor cost)
5.2
8.9
3.7
9.6
8.0
6.7
7.4
TFP growth (%)
0.9
3.4
2.5
3.5
3.0
2.7
3.0
FY09
FY10
Export growth (%)
8.3
25.4
17.1
25.8
20.0
13.8
–3.6
Export (% GDP)
10.4
28.1
17.7
32.0
20.0
13.3
–5.1
Gross fixed capital formation (% GDP)
6.9
32.5
34.0
32.9
32.8
22.9
29.8
Capital inflows (% GDP) (eop)
2.1
4.6
2.5
6.8
4.5
0.5
4.1
Fiscal deficit (% GDP)
9.0
7.1
–1.9
10.6
5.5
8.7
9.8
Source: Reserve Bank of India, Handbook of Statistics; authors’ estimates. Note: eop = end of period.