Equities · 11 February 2000
Dot-com / tech bust
Sensex peak ~6,150 intraday (2000-02-11); multi-year slide
Overlaps the Ketan Parekh scam (2001-03) and the UTI US-64 crisis (2001-07)
ReportedOfficial record. Source: BSE historical data
Prime Minister: A. B. Vajpayee
The Age Of Stars
The gold airlift, liberalisation, and a floating rupee.
Vol. CXXVIThe edition of 2000 · The Open Economy11 records
- Prime Minister
- A. B. Vajpayee
- President
- K. R. Narayanan
- Finance Minister
- Yashwant Sinha
- RBI Governor
- Bimal Jalan
Bank Rate
8%
unchanged on 1999
Rupee per dollar
₹45
+4.3% on 1999
Inflation
4.01%
−0.66 pts on 1999
GDP growth
3.84%
−5 pts on 1999
Reserves
$41,059m
+14% on 1999
External debt
$101,131m
+1.4% on 1999
Markets & Money
1 itemNasdaq; Indian IT/telecom stocks (the K-10 and "new economy" counters) · 1 February 2000
Global dot-com collapse
The collapse of the technology bubble coincided with the 2000-01 Indian market slide and with the Ketan Parekh constellation of stocks becoming illiquid (see SCAM)
UnconfirmedOfficial record. Source: Not sourced in this session
War & Unrest
1 itemIndia
Kargil Review Committee / Group of Ministers implementation
Defence procurement and intelligence reform spending. A Rajya Sabha question on implementation of the Kargil Report was tabled on 2000-04-26 (item opened, content not retrieved)
ReportedOfficial record. Source: Rajya Sabha item 115749, 2000-04-26 (archive.org)
The Ledger: what was borrowed in 2000
Full ledger →| Creditor | Instrument | Amount | US$ m | Status | Grade |
|---|---|---|---|---|---|
| NRIs/PIOs via State Bank of India | India Millennium Deposits, Oct–Nov 2000 (not offered in the US) | 5,500 | redeemed Dec 2005: USD 7.1 bn incl. 1.6 bn interest (7.3 bn per the IUP journal) | verified | |
| IBRD | FY2000 commitments | 808 USD | 808 | amortising | verified |
| IDA | FY2000 commitments | 741.5 USD | 741.5 | amortising | verified |
| IMF | Last repurchase of the 1991-93 credit: SDR 19.25 mn outstanding on 2000-05-31, zero on 2000-06-30 | fully repaid Jun 2000 | verified | ||
| ECB lenders (aggregate) | ECB approvals, FY2000-01 | 2,837 USD | 2,837 | flow | verified |
| IBRD | IBRD commitments in the decade | 11,328 USD | 11,328 | amortising | verified |
| IDA | IDA commitments in the decade | 9,930 USD | 9,930 | amortising | verified |
| State Bank of India (on behalf of Government of India / RBI) | India Millennium Deposits (IMD) | 27,500 INR crore (~ equivalence) | 5,500 | Raised 2000-11; repaid 2005-06 | reported |
Rows are listed as recorded. Some describe the same loan from different sources and must not be added together.
