Prime Minister: Jawaharlal Nehru
Partition, planning, aid consortia and nationalised banks.
Bank Rate
4%
unchanged on 1961
Rupee per dollar
₹4.76
unchanged on 1961
Inflation
3.63%
+1.94 pts on 1961
GDP growth
2.93%
−0.79 pts on 1961
Reserves
$513m
−23% on 1961
Arabian Light
$1.8
unchanged on 1961
Himalaya (NEFA, Aksai Chin)
Defence outlays sharply raised in the 1963-64 budget; National Defence Gold Bonds 1962; Gold Control Rules (Jan 1963) to curb private gold demand; emergency Western military aid (US/UK)
ReportedOfficial record. Source: Union Budget 1963-64; RBI Report on Currency and Finance 1962-63
equities / gold / fiscal · 20 October 1962
Bombay share prices fell (magnitude not extracted); gold bonds and gold control followed
UnconfirmedPeer-reviewed. Source: general histories
Mudaliar Committee on Import and Export Policies and Procedures; import-entitlement (REP) schemes extended
ReportedPeer-reviewed. Source: Bhagwati & Srinivasan 1975
| Creditor | Instrument | Amount | US$ m | Status | Grade |
|---|---|---|---|---|---|
| IMF | Stand-By 1962-07-09 to 1963-07-08 (100 agreed) | 25 | expired | verified | |
| International Monetary Fund | Stand-by Arrangement, 1962-07-09 to 1963-07-08 | 100 SDR (USD at par) | 100 | Only 25 of 100 drawn | verified |
| United States and United Kingdom/Commonwealth | Emergency military aid after the Sino-Indian war (Nassau understanding, Dec 1962) | 120 USD | 120 | Delivered 1963–65; US MAP suspended Sept 1965 | reported |
Rows are listed as recorded. Some describe the same loan from different sources and must not be added together.
