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All Sectors of the economy contributed to the rise in the Gross Domestic Savings at current prices during 2003-04 estimated at Rs.776420 crore, against Rs.642298 crore the previous year. With this, the domestic savings now constitute 28.1 per cent of GDP at market prices, 2 per cent higher than the previous year.
In respect of the house hold sector, the savings in the form of financial and physical assets went up to Rs.314261 crore and Rs.357431 crore in 2003-04 from Rs.254439 crore and Rs.320242 crore in 2002-03, respectively. The savings in the financial form almost doubled during the period. Savings from Private Corporate Sector also went up from Rs.94269 crore in 2002-03 to Rs. 114157 crore during 2003-04. The public sector managed to significantly reduce the decline in the savings.
The net domestic savings increased from Rs.409346 crore to Rs. 522783 crore during the period under report, registering an increase of nearly 21 per cent at market prices. As in the case of gross saving, the net saving of the house hold sector also went up from Rs.492164 crore to Rs. 579917 crore, as per the Quick Estimates for 2003-04. The net saving of the Private Corporate Sector increased from Rs.31489 crore to Rs.46747 crore, while the Public Sector, reduced its decline in savings considerably.
VKS/SR
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