Financial Daily from THE HINDU group of publications
Tuesday, Oct 01, 2002
Financial Daily from THE HINDU group of publications Tuesday, Oct 01, 2002 |
|
|
|
|
|
Home Page
-
Economy Industry & Economy - Economy All-round growth lifts GDP by 6 pc in Q1 Our Bureau
NEW DELHI, Sept. 30 THE country's gross domestic product (GDP) has gone up by six per cent during the first quarter of the current fiscal, marking an improvement over the 3.5 per cent growth registered during the same period last year. According to the Central Statistical Organisation (CSO), the six per cent overall GDP growth during April-June 2002 was due to the better performance of all the three major sectors — agriculture, industry and services.
While the industry grew by 4.1 per cent during this period (against 2.5 per cent during April-June 2001), the farm sector (i.e. agriculture, forestry and fishing) notched up 4.4 per cent growth (1.1 per cent). Within industry, the manufacturing sub-sector grew by 3.8 per cent (2.7 per cent), while the corresponding growth rates stood at 5.3 per cent (minus 0.3 per cent) for mining and quarrying and 5.3 per cent (3.9 per cent) for electricity, gas and water supply. The growth rate for the services sector amounted to 7.4 per cent compared to 5.1 per cent during the corresponding quarter of 2001. Within services, the growth rates stood at 6.3 per cent for construction (minus 0.2 per cent), 7.4 per cent for trade, hotels, transport and communication (4.5 per cent), 9.7 per cent for financing, insurance, real estate and business services (seven per cent) and 5.6 per cent for community, social and personal services (6.5 per cent). It remains to be seen, however, whether the reasonably buoyant first quarter growth rates would be sustained in the subsequent quarters. This is more so, considering that the negative growth experienced by the farm sector in the current kharif season (due to poor monsoon rains) will show up only in the third quarter, when the crop is due for harvesting.
Send this article to Friends by
E-Mail
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |
Copyright © 2002, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|