INDIAN ECONOMY TOUCHING NEW HEIGHTS

Article Abstract:

The Indian economy has become the fifth largest economy in the world and its gross domestic product (GDP) has been growing steadily at 6-7 percent since 1990-91. India's GDP at present has been pegged at $351 billion at the official exchange rate and at $1665 billion based on the purchasing power parity method. The country is one of the largest producers of fruits and vegetables in the world and is ranked fourth in terms of value-added products in agriculture. The country's level of agro exports currently stands at Rs235 billion and accounts for about 20 percent of total exports. Indian industry contributes about 31 percent of GDP with a current output of $109 billion and an average growth rate of 10-12.5 percent. (khr)

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'GDP LIKELY TO GROW BY 6.3% THIS FISCAL'

Article Abstract:

The growth of India's gross domestic product (GDP) is likely to be 6.3 percent in 1998-99 (5.1 percent in 1997-98). The GDP growth in the first quarter (April-June) of 1998-99 was 6.1 percent (4.2 percent). The growth in agriculture, forestry and fishing during April-June 1998 was 5.7 percent (5.9 percent), in the manufacturing sector 5.7 percent (5.9 percent) and in the mining and quarrying sector 0.2 percent (2.4 percent). (rk)

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