Annual Plan 2003-04 Planning Commission Government of India, New Delhi

Abstract

The economy grew at the rate of 4.0 per cent in 2002-03 as compared to 5.8 per cent in 2001- 02 (Quick Estimates of CSO). Poor monsoon and drought in several states resulted in decline in agriculture growth by (-) 5.2 per cent, which has had its adverse impact on the gross domestic product (GDP). The industry and service sectors however remained largely unaffected by the poor performance in agriculture. Industry recorded a growth of 6.4 per cent in 2002-03 (Table-1) as compared to 3.3 per cent in 2001-02 with ‘mining & quarrying’ (8.8 per cent), ‘manufacturing’ (6.2 per cent), 'electricity, gas and water supply’ (3.8 per cent), and construction (7.3 per cent). The service sector likewise grew by 7.1 per cent as compared to 6.8 per cent in 2001-02. Among the service sectors, while ‘trade, hotels, transport & communications’ recorded a 7.0 per cent growth, ‘financial, insurance, real estate & business services’ grew by 8.8 per cent and ‘community, social and personal services’ by 5.8 per cent.