Economic Survey 2002-03: Highlights

  • Press Trust of India, PTI, New Delhi
  • |
  • Updated: Feb 27, 2003 13:31 IST
• Economic growth scaled down to 4.4 per cent in 2002-03 from 5.6 per cent a year ago.

• Significant decline in agricultural growth by 3.1 per cent from 5.7 per cent mainly due to monsoon failure.

• Improvement in industrial production to 6.1 per cent in current fiscal from 3.3 per cent a year ago.

• Fiscal deficit expected to be at the target level of 5.3 per cent of GDP in 2002-03 as against 5.9 per cent a year ago.

• Exports grow by 20.4 per cent (April-December 2002) over the corresponding previous period.

• Services sector to grow at 7.1 per cent in the current fiscal from 6.8 per cent in 2001-02.

• Gross domestic savings rose modestly to 24 per cent of GDP in 2001-02 from 23.4 per cent in 2000-01.

• Public sector savings continued to slide by 2.5 per cent whereas in private sector it improved strongly by 26.5 per cent in the same period.

• Foodgrain production declined by 13.6 per cent (provisional) during 2002-03 as compared to a healthy growth of 6.3 per cent in the corresponding previous period.

• Inflation rate expected to go up to 4.4 per cent compared to 2.6 per cent (52-week average in 2002).


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