Annual State GDP Growth Rate At 5.46%

Chennai, July 29: | Updated: Jul 30 2002, 05:30am hrs
The gross state domestic product (GSDP) of Tamil Nadu increased to Rs 91,841 crore in 2001-02 from Rs 70,439 crore in 1996-97 showing an average annual growth rate of 5.46 per cent.

According to advance estimates of the department of economics and statistics, during this period, the primary sector consisting of agriculture and allied activities, forestry, fishing and mining and quarrying, has registered an annual average increase of 2.28 per cent. A high growth performance of 8.54 per cent was noticed in this sector in 1997-98, and 8.46 per cent in 1998-99. However, in 1999-2000, this sector had a negative growth of 4.26 per cent. Though in 2000-2001 there had been a positive growth of 2.54 per cent, in 2001-02 the growth turned negative by 3.86 per cent.

Tax Collection Up In May

Total revenue collection in Tamil Nadu through sales tax and other related Acts in the first two months of the current financial year has been Rs 1,550.79 crore against Rs 1,439.75 crore in the previous period, showing an increase of 7.71 per cent. Growth has been negative in Central sales tax and luxury tax. The tax colection during May was up to Rs 779.36 crore from Rs 675.33 crore in May last. Of this sales tax alone accounted for Rs 652.93 crore in May 2002 against Rs 575.91 crore in May last

The value added by the secondary sector consisting of manufacturing, construction, electricity, gas and water supply has been satisfactory. It has recorded an annual average growth of 4.71 per cent during 1996-97 to 2001-2002. High growth was noticed in this sector during the year 1999-2000 at 13.27 per cent.

In the tertiary sector, trade, transport, storage and communication sectors have recorded a high growth in 1999-2000 at 11.52 per cent and a minimum of 4.26 per cent in 1998-1999.

Banking and insurance, real estate and business services sectors have registered a maximum growth of 21.68 per cent in 1996-97 and a minimum growth of 0.32 per cent in 1999-2000.

The high growth of 16.05 per cent was noticed for the year 1997-98 in the services sector, namely, community, social and personal services and a minimum growth of 0.70 per cent in 1999-2000.