Economy grows at 5.4% in 2001-02

Though September 11 terrorist attacks in US slowed down trade, hotel, transport and communication, the sector ended with a growth of 6.2 per cent as compared to 5.3 per cent growth registered in 2000-01.

The dampener in 2001-02 was manufacturing sector which saw growth rate skid from a high 6.7 per cent in 2000-01 to 2.8 per cent in 2001-02.

Growth rate also derailed in mining, electricity and construction sectors to 1.8 per cent, 4.6 per cent and 3.6 per cent respectively in 2001-02 as against 3.3 per cent, 6.2 per cent and 6.8 per cent decent growth rates recorded the previous year.

National income, also known as net national product (NNP), posted a decent 5.7 per cent growth rate in 2001-02 as against a 3.7 per cent growth rate last fiscal. Per capita income during 2001-02 attained a level of Rs 10653 as compared to Rs 10254 of 2000-01.

Growth in manufacturing sector skid to 4.7 per cent in 2001-02 over 12.3 per cent growth rate of last fiscal while electricity sector gained to 17.6 per cent when compared with 10.4 per cent growth in 2000-01.

Mining fell to 7.1 per cent from 10.2 per cent and construction to 7.4 per cent from 10.4 per cent. Community, social and personal services sector remained flat at 10 per cent growth rate.