BIS central bankers’ speeches  9  Based on the recommendations of the Working Group and the subsequent extensive deliberations with all the stakeholders, viz, industry participants as well as the Government of India, draft guidelines have been formulated and put in the public domain for comments in December 2012.
Exports and industrial production have increased as a trend, with the effects of supply-side constraints waning. Corporate profits have been at high levels on the whole, and business sentiment has been more or less unchanged. In this situation, business fixed investment has picked up, although weakness has been seen in some industries. The employment and income situation has improved moderately on the whole.