[20050210]RS21502_印美经济关系.pdf

1 Unless otherwise noted, data on India are on a fiscal year basis that runs from April to March.2 The central governments budget deficit as a percent of GDP averaged over 7% from 1980 to1990. The high level of government debt became unsustainable as the high right of governmentborrowing raised real interest rates, sparked inflation, and undermined faith in the currency. Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS WebOrder Code RS21502Updated February 10, 2005India-U.S. Economic RelationsWayne Morrison and nae redacted Foreign Affairs, Defense, and Trade DivisionSummaryIndia is a country with a long history and a large population (more than one billionpeople, nearly half living in poverty). Given that it is the worlds most populousdemocracy, a U.S. ally in anti-terrorism efforts, and a potentially major export market,Indias economic development and its trade relations with the United States are ofconcern to Congress. This report will be updated as events warrant. Indias EconomyUpon achieving independence from British rule in 1947, India pursued policies thatsought to assert government planning over most sectors of the econom