Transmission of World Growth Cycle to the Indian Economy

Our earlier studies of the short-run economic fluctuations in India have led us to the following main conclusions:

(a) The Indian economy has not been free from substantial short-period fluctuations in economic activity. A large number of key economic processes such as industrial productions, factory employment, fixed capital formation, stock exchanges, money credit, interest rates, commodity and security prices, profits of public limited companies, exports, imports, etc., show more or less synchronous movements around their respective long-term trends.