New Delhi, Jan 31: The gross domestic product (GDP) has registered a growth of 5.6 per cent during the year 2001-02, as against 4.4 per cent during the previous year.
This has been attributed mainly to the high growth in telecommunications (17 per cent), agriculture (5.7 per cent), trade (8.7 per cent), hotels and restaurants (11.2 per cent), real estate, ownership of dwelling and business services (5.7 per cent) and other services (7.7 per cent).
According to the quick estimates of national income, GDP at constant prices in 2001-02 was estimated at Rs 12,65,429 crore as against Rs 11,98,685 crore in 2000-01, a growth of 5.6 per cent during the year as against 4.4 per cent in the previous year.
At current prices, GDP in 2001-02 is estimated at Rs 20,94,013 crore as against Rs 19,17, 724 crore in 2000-01, showing an increase of 9.2 per cent. The quick estimates also revised the growth rate of GDP for 2000-01 to 4.4 per cent as against the earlier estimate of 4 per cent.
At constant prices, the country’s national income rose by 6.2 per cent to Rs 11,15,157 crore in 2001-02 as against Rs 10,50,177 crore in the previous year. Per capita income during the fiscal 2001-02 rose by 4.3 per cent to Rs 10,754 as against Rs 10,306 the previous year.
There was an overall improvement in the savings rate to 24 per cent of the GDP in 2001-02 as against 23.6 per cent the previous year. It was noticed that while there was a rise in savings by households and private corporate, public sector savings recorded a ‘steep’ decline due to dis-savings of the government administrative departments.
The quick estimates have been brought out by the Central Statistical Organisation, in the ministry of statistics and programme implementation.
The estimates point out that gross capital formation at current prices rose from Rs 5,04,738 crore in 2000-01 to Rs 5,45,091 crore in 2001-02 and at constant (1993-94) prices, it increased from Rs 3,45,209 crore in 2000-01 to Rs 3,55,720 crore in 2001-02.
The rate of capital formation in 2000-01 was higher than the rate of savings but is lower in 2001-02 because of the positive net capital inflow from abroad which was Rs 12,977 crore in 2000-01 and negative Rs 4872 crore in 2001-02.