CSO forecasts 6 p.c. growth in current year

By Our Special Correspondent

NEW DELHI, FEB. 5. The Central Statistical Organisation (CSO) has confirmed the slowdown in the economy and has projected that the gross domestic product (GDP) would grow at the rate of six per cent during the current fiscal year. This would be lower than the 6.4 per cent growth estimated for 1999-2000.

According to the advance estimates of national income at constant prices (1993-94 prices), the GDP is expected to be in the region of Rs. 12,21,174 crores during 2000-2001 against the GDP size of Rs. 11,51,991 crores according to quick estimates for 1999-2000. The growth rate works out to six per cent.

The advance estimates show that agriculture, forestry and fishing will grow by 0.9 per cent during 2000-01 against 0.7 per cent in 1999-00, mining and quarrying by 4.5 per cent against 1.7 per cent, manufacturing by 6.4 per cent against 6.8 per cent, electricity, gas and water supply by 5.6 per cent against 5.2 per cent and construction by 8.7 per cent against 8.1 per cent. The trade, hotels, transport and communication segment grew by 8 per cent the same as last year, financing, insurance, real estate and business services by 9.6 per cent against 10.1 per cent and community, social and personal services by 7.6 per cent against 11.8 per cent.

The gross national product (GNP) at factor cost was estimated to grow at the rate of 6.1 per cent against 6.5 per cent last year while the net national product (NNP) at factor cost was estimated to grow at 6.1 per cent against 6.6 last year. Estimates at the per capita level show the population during 2000-01 to be 1,007 million, the growth rate being constant at 1.6 per cent as in 1999-2000. The per capita NNP at factor cost worked out to Rs. 10,654 against Rs. 10,204, showing a growth rate of 4.4 per cent against a growth rate of 4.8 per cent registered last year.

At current prices, the agriculture, forestry and fishing sector is estimated to grow at 4.8 per cent during 2000-01 against 5.3 per cent in 1999-2000, mining and quarrying by 2.7 per cent against 8.7 per cent, manufacturing by 9.2 per cent against 9.1 per cent and electricity, gas and water supply by 24.2 per cent against 11.9 per cent. The construction sector is estimated to grow by 15.9 per cent against 14.7 per cent, trade, hotels, transport and communications by 14.7 per cent against 10 per cent, financing, insurance, real estate and business services by 16.8 per cent against 18.5 per cent. Community, social and personal services are estimated to grow by 13.8 per cent against 16 per cent last year. Overall GDP at current prices is estimated to grow at 11.4 per cent against 10.5 per cent in 1999-2000.

In current prices, the GNP is estimated to grow at 11.4 per cent against 10.6 per cent last year, NNP at 11.7 per cent against 10.9 per cent and net domestic product at 11.7 per cent against 10.8 per cent.

The per capita NNP at current prices works out to Rs. 17,643 against Rs. 16,047 in 1999-2000, which means a growth of 9.9 per cent against a 9.1 per cent growth registered last year.

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