Arabian Peninsula / Bab-el-Mandeb
Yemen war (Saudi-led intervention)
Operation Rahat evacuated ~4,600 Indians plus ~960 foreign nationals; risk to Bab-el-Mandeb lane (India–Europe trade)
ReportedOfficial record. Source: MEA press releases 2015
Prime Minister: Narendra Modi
The Age Of Stars
The gold airlift, liberalisation, and a floating rupee.
Vol. CXLIThe edition of 2015 · The Open Economy6 records
- Prime Minister
- Narendra Modi
- President
- Pranab Mukherjee
- Finance Minister
- Arun Jaitley
- RBI Governor
- Raghuram G. Rajan
Rupee per dollar
₹64.11
+5.1% on 2014
Inflation
4.91%
−1.76 pts on 2014
GDP growth
8%
+0.59 pts on 2014
Reserves
$353,319m
+8.7% on 2014
External debt
$478,831m
+4.7% on 2014
Brent crude
$52.32
−47.2% on 2014
Trade & Tariffs
3 itemsInsurance FDI to 49%
The insurance FDI cap was raised to 49% by the Insurance Laws (Amendment) Act 2015.
ReportedPress. Source: IBEF; CSIS
WTO Nairobi Ministerial (MC10)
2015-12. Reaffirmed the Bali and 2014 General Council peace-clause decisions and promised "accelerated"…
2015-12. Reaffirmed the Bali and 2014 General Council peace-clause decisions and promised "accelerated" negotiations on a permanent solution, which was not delivered. MC10 also adopted a decision to eliminate agricultural export subsidies. Critics (South Centre, Via Campesina) said developing countries got "pious intent" only.
ReportedOfficial record. Source: WTO MC10 decision WT/MIN(15)/44 (l979_e); PIB relid=148541; South Centre AN/MC10/3
Gold Monetisation Scheme, Sovereign Gold Bonds, Indian Gold Coin
Launched 2015-11-05 to reduce gold imports by mobilising household gold.
ReportedOfficial record. Source: PIB relid=153849
The Ledger: what was borrowed in 2015
Full ledger →| Creditor | Instrument | Amount | US$ m | Status | Grade |
|---|---|---|---|---|---|
| Indian households and temples (domestic, not external) | Gold Monetisation Scheme (GMS) gold deposits | 5,730 kg gold (by 2016-11) | Operating. SGBs had 14,071 kg subscribed (INR 4,127 crore) by 2016-11. | reported | |
| Foreign sovereign and pension funds (equity, not debt) | National Investment and Infrastructure Fund (NIIF): government-anchored equity platform | 40,000 INR crore (target corpus) | Operating | reported |
Rows are listed as recorded. Some describe the same loan from different sources and must not be added together.
