Highlights of Economic Survey 2001-2002
Tuesday, February 26 2002 15:11 Hrs (IST)
New Delhi: Following are the highlights of Economic Survey 2001-2002:
Economic growth is estimated at 5.4 per cent compared to four per cent in
2000-2001.
Fiscal deficit overshoots to 5.1 per cent from the budgeted level of 4.7 per
cent for 2001-02.
Agriculture sector grows at 5.7 per cent in 2001-02 from a negative growth rate of 0.2 per cent last year.
Food grains output is estimated to rise to 209 million tonnes compared to 196 million tonnes in 2000-01.
Industrial growth continued to be low at 2.3 per cent in April-December 2001, lowest during the last ten years, compared to 5.8 per cent in April-December, 2000.
Exports grew at a mere 0.6 per cent during first nine months of current
fiscal compared to hefty 20.8 per cent in the same period last year.
Average annual growth rate during ninth five-year plan (1997-2002) now
estimated at 5.4 per cent, lower than plan target of 6.5 per cent.
Inflation, in terms of Wholesale Price Index (WPI), touched lowest in last two decades of 1.3 per cent by the end of January 2002.
Foreign exchange reserves reached a record level of 50 billion Dollar at the
end of January 2002.
External debt to GDP (Gross Domestic Product) ratio was 21 per cent at the
end of September 2001.
Six infrastructure industries grew at two per cent in April-December as
compared to 6.8 per cent in same period last year.
Services sector estimated to grow at 6.5 per cent compared to 4.8 per cent
last year.
Gross domestic investment marginally low at 24 per cent of GDP in 2000-01
from 24.3 per cent in 1999-2000 mainly due to a fall in private sector investment.
Gross domestic savings improved to 23.4 per cent in 2000-01 from 23.2 per
cent of GDP in 1999-2000.
Broad money supply as on January 11, 2002 exhibited growth of 14.4 per cent
as against 16.6 per cent a year ago.
Central government expenditure (plan and non-plan) on social sectors as a
percentage of total Central government expenditure (plan and non-plan) increased to
10.7 per cent (budgeted estimate) in 2001-02 from 8.1 per cent in 1992-93.
Comfortable balance of payment; current account deficit reduced to about 0.5
per cent in 2000-01 from 1.1 per cent in 1999-2000.
Trade deficit narrowed to 3.1 per cent of GDP in 2000-01 from 4 per cent in
1999-2000.
During 2001-02, procurement of wheat touched a record level of 20.63 million
tonnes.