Gdp Growth Rate Revised Up To 5.6%

The growth rate of gross domestic product (GDP) for 2001-02 has been revised to 5.6 per cent in the quick estimates released by the Central Statistical Organisation (CSO), as against 5.4 per cent announced in the revised estimates released in June 2002.

The GDP at factor cost (1993-94 constant prices) has been estimated at Rs 12,65,429 crore in 2001-02 as against Rs 11,98,685 crore in 2000-01.

The CSO has also revised the 2000-01 growth figures upwards to 4.4 per cent from 4 per cent reported earlier, mainly on account of incorporation of current data relating to private communication services.

The marginal increase in the growth rate for 2001-02 is based on improved growth in manufacturing and trade, hotels, transport and communications, and construction.

These sectors have managed to push up the GDP growth marginally despite a decline in performance in all other sectors, particularly financial services, and mining and quarrying.

The growth in agriculture, forestry and fishing has been kept constant at 5.7 per cent, and is expected to be revised upwards at a later stage.

While national income went up from Rs 10,50,177 crore in 2000-01 to Rs 11,15,157 crore in 2001-02, an increase of 6.2 per cent, the per capita national income rose only 4.3 per cent in real terms.

At constant prices, the per capita income went up 4.4 per cent from Rs 10,306 in 2000-01 to Rs 10,754 in 2001-02.

Per capita private final consumption expenditure at constant prices rose 4.1 per cent from Rs 8,034 to Rs 8,360 in 2001-02.

Gross domestic savings during 2001-02 were up marginally to 24 per cent of the GDP at market prices, as against 23.4 per cent in the previous year.

The hike in the savings rate has been mainly on account of the household and the private corporate sector, while the public sector has seen a steep fall in savings.

The dissavings of the public sector have gone up 20.1 per cent from Rs 48,022 crore in 2000-01 to Rs 57,662 crore in 2001-02.

While the public sector