Farm Sector Takes GDP Growth To 5.4%

New Delhi, June 28: | Updated: Jun 29 2002, 05:30am hrs
A high growth in the agriculture sector has pushed the gross domestic product (GDP) growth for 2001-02 to 5.4 per cent against a 4 per cent GDP growth posted in 2000-01.

The revised GDP growth figure for 2001-02, released by the Central Statistical Organisation on Friday, tallies with the advanced estimate released in February this year.

While the growth in agriculture has been projected at 5.7 per cent in 2001-02 against a negative growth of 0.2 per cent recorded in 2000-01, the manufacturing sector has posted a 2.8 per cent growth compared to a robust 6.7 per cent growth the previous year.

The mining and quarrying sector grew at 1.8 per cent in 2001-02 against 3.3 per cent growth recorded in 2000-01. While electricity, gas and water supply grew at 4.6 per cent compared to 6.2 per cent the previous year, the trade sector grew at an attractive 6.2 per cent as opposed to a 5.3 per cent growth the previous year.

The construction sector grew at a low 3.6 per cent against a 6.8 per cent in 2000-01. The finance, insurance and real estate sectors recorded a growth rate of 7.8 per cent compared to just 2.9 per cent pegged in the previous year, while community, social and personal services grew at 5.9 per cent compared to 6 per cent the previous year.

As per the quarterly break-up, the GDP growth for 2001-02, shot up in the last two quarters. While in the first two quarters the rate was just 3.5 per cent and 5.3 per cent respectively, it increased to 6.2 per cent in the third quarter and 6.4 per cent in the fourth quarter.

The national income during 2001-02 at Rs 11,04,689 crore has posted a 5.7 per cent growth compared to a 3.7 per cent growth recorded in 2000-01. The per capita income in real terms during 2001-02 is estimated to attain a level of Rs 10,653 compared to Rs 10,254 estimated for the previous year.