Note: The financial bank guarantee ensures the payment of charges/fees by the Government, e.g. spectrum charges and licensing fees. The performance bank guarantee ensures that providers meet their roll out obligations. The validity of all licences above are 20 years, renewable for 10 years.
Source: Department of Telecommunications online information. Viewed at: http://www.dot.gov.in/sites/default/files/amended%20%20UL%20guidelines.pdf, and information provided by the Indian authorities.
Table A4. 4 IMO Conventions and protocols ratified by India, 2014
Source: WTO Secretariat, based on information provided by the Indian authorities.
1 India's fiscal year runs from April to March.
2 Main changes in the new series of national accounts included: (i) change of the base year from 2004 05 to 2011-12; (ii) measuring economic growth in terms of GDP at constant market prices, instead of GDP at factor cost; and (ii) improving the coverage of information, inter alia, on corporate entities in manufacturing and services sectors.
3 The authorities have indicated that this is due to the relatively large segment of non-organized (not formally employed) workers, and that only figures for organized employment are available. In the absence of annual statistics on employment, the authorities make use of indicators including: quick quarterly survey on employment – unemployment by the Labour Bureau, which has been conducted in selected sectors; Industrial Outlook Survey of the RBI, which has been conducted on a quarterly basis since 1998, and gives performance indicators concerning employment in public and private limited companies engaged in manufacturing. Other employment-related indicators include: monthly Naukri Job Index (NJI); Monster Employment Index (MEI); and HSBC Purchasing Managers Index (PMI).
4 Data provided by the Indian authorities.
5 Budget Speech 2014-15.
6 The Cabinet Committee on Investment (CCI) was established in 2012; in 2013, it approved previously stalled projects amounting to about 5% of GDP (IMF, 2014).
7 According to some studies, substantial leakages in food subsidies, including widespread diversion to the black market, have been estimated (OECD, 2014). The Government announced the establishment of the Expenditure Management Commission in Budget 2014-15 with a view to reviewing expenditure and suggesting reforms.
8 The Government aims to raise the share of manufacturing in GDP to 25%.
9 The Government is considering revisions to the current Land Acquisition Act in order to avoid delay in the implementation of infrastructure projects.
14 The authorities estimate that the ratio will decline to 46.1% in 2015-16.
15 Ministry of Finance (2014).
16 IMF (2014).
17 The Direct Benefit Transfer (DBT) scheme was introduced in 2013, supported by the Aadhaar numbers and Aadhaar-linked bank accounts (OECD 2014). Aadhaar numbers have been granted to 757 million citizens as at January 2015.
18 Ministry of Finance (2014).
19 Budget Speech 2014-15 and Ministry of Finance (2014).
20 Ministry of Finance (2014).
21 The Government's continued intention is to introduce a GST and to consolidate the Income Tax Act 1961 and the Wealth Tax Act 1957 in a Direct Tax Code.
22 Ministry of Finance online information. Viewed at: http://finmin.nic.in/reports/MPFAgreement28022015.pdf.
23 Since 3 May 2011, the RBI has been using the repo rate (RBI's lending rate to commercial banks) as the only independently varying policy rate. The RBI implements monetary policy through the use of several direct and indirect instruments. The main direct instruments used to conduct monetary policy include the cash reserve ratio (CRR), the statutory liquidity ratio (SLR), and refinance facilities. The RBI uses the liquidity adjustment facility (LAF), as its main indirect instrument which enables it to adjust short term liquidity through repo and reverse repo auctions. The RBI also makes use of open market operations.
24 The export credit refinance was reduced in phases. It was 50% of eligible export credit outstanding as at 2 June 2014.
25 IMF (2014).
26 Reserve Bank of India online information. Viewed at: http://rbi.org.in/Scripts/PublicationReportDetails.aspx?ID=743.
27 The RBI had traditionally been using the WPI as the key inflation measure.
28 RBI, Second Bi-Monthly Monetary Policy Statement 2014-15.
29 The investment limit in government securities by registered foreign portfolio investors (FPIs) is capped at US$30 billion, of which US$5 billion is reserved for long-term investors.
30 OECD (2014).
1 The Union Territories are administered by the central Government.
2 There is also a Vice President who is elected for five years by an electoral college of both houses of Parliament and the state assemblies; the Vice President is the