Indian Economy: General Review.

Slow down of growth in last two years has affected the industrial sectors badly. Inflation too declined during this period, but continued to be above the comfort zone, owing primarily to the elevated level of food inflation. The external sector witnessed a remarkable turnaround after the first quarter of 2013-14, and the year ended with a Capital account deficit of 1.7 percent of GDP as against 4.7 percent in 2012-13. Aggregate demand, measured in terms of GDP at constant (2004-05) market prices, registered a growth of 5 percent in the year 2013-14 as against 4.7 per cent in the previous year. The growth in private final consumption, which averaged 7.8 percent during 2013-04 to 2011-12, declined to 5 per cent in 2012-13 and further to 4.8 percent in 2013-14. The poverty ratio declined from 37.2 percent in 2004-05 to 21.9 per cent in 2011-12. In absolute terms, the number of poor declined form 407.1 million in 2004-05 to 269.3 million in 2011-12. [ABSTRACT FROM AUTHOR]