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Dip in farm output to pull down to 5.9% 

Ravi Kapoor  
New Delhi, Feb 4: Poor performance in agriculture is likely to bring down the GDP growth rate for 1999-2000 to 5.9 per cent from the estimated 6.8 per cent during 1998-99.

As per the advance estimates of National income (1999-2000) released here on Friday by the Central Statistical Organisation (CSO), GDP for the current fiscal is expected to attain a level of Rs 11,45,436 crore, against the quick estimates of GDP for 1998-99 of Rs 10,81,834 crore. Both figures are at constant prices (1993-94).

While growth in manufacturing was impressive, going up from 3.6 per cent in 1998-99 to 7 per cent in the current year, agriculture, forestry and fishing performed badly, with the growth rate coming down from 7.2 per cent in 1998-99 to 0.8 per cent in the current fiscal.

Rice is expected to register 1.7 per cent growth rate in 1999-2000, against 4.2 per cent in 1998-99, wheat -2.9 per cent (against 6.7 per cent in 1998-99), pulses -8.1 per cent (against 14.1 per cent) and oilseeds -14.2 per cent (against 18.2 per cent).

Mining and quarrying are likely to improve from -0.5 per cent in 1998-99 to 0.4 per cent this fiscal. Electricity, gas and water supply is also expected to improve marginally, from 7.9 to 8 per cent. The construction business seems to have improved, showing growth of 9 per cent against 5.7 per cent in the last fiscal. Similarly, financing, insurance, real estate and business services are expected to grow by 10.5 per cent against 6.1 per cent in the last fiscal.

Community, social and personal services declined from 10.9 per cent in 1998-99 to 9.8 per cent in 1999-2000. The Net National Income (NNI) or national income at constant prices is likely to be Rs 10,06,005 crore in the current fiscal, against the quick estimates of 1998-99 at Rs 9,49,525 crore. The rise in national income is expected to be 5.9 per cent against 6.8 per cent of the last fiscal.

The per capita income in real terms (that is, at 1993-94 prices) during the current fiscal is likely to be Rs 1,051 as compared to the quick estimates for 1998-99 of Rs 9,739. The growth rate in the per capita income is 4.2 per cent for 1999-2000, against 5 per cent in the last fiscal. GDP at current prices is anticipated to Rs 15,69,868 crore during 1999-2000, as compared to Rs 14,31,527 crore in 1998-99, showing a rise of 9.7 per cent.

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