India Economic Calendar

India has a mixed economy, is the fifth-largest economy in the world, and is one of the fastest-growing economies, overtaking China.

Once the agricultural industry was the primary source of revenue and income, India currently has a diverse economy with the bulk of activity and growth coming from the service sector, which accounts for half of the country's GDP and remains the fastest-growing sector.

Leading service industries in India include telecommunications, information technology, and software, with people employed by both local and foreign corporations.

Direct taxes are the main source of income for the Indian government, while interest payments are the largest item of government expenditure, followed by military, subsidies, health care, and education.

The Reserve Bank of India (RBI) is the central bank and regulatory authority for India. In addition to managing the country's principal payment systems and working to advance economic growth, it also issues and maintains the supply of the Indian Rupee (INR), the country's legal currency. The Reserve Bank of India aggressively trades the USD/INR currency market to affect effective exchange rates.

The Interest Rate in India is set by the Central Board of Directors of the Reserve Bank of India (RBI). When the Reserve Bank of India changed its monetary policy goals in 2014, it put more emphasis on keeping prices stable and less on keeping the government from borrowing, keeping the currency stable, and keeping exports going.