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The Per Capita Income in real terms (i.e. 1993-94 prices) is estimated to attain a level of Rs.12414 during the current fiscal. The Quick Estimates by the Central Statistical Organisation, Ministry of Statistics and Programme Implementation had placed the per capita income at Rs.11799 for the year 2003-04. According to the Advance Estimates just released by the CSO for the current financial year, the growth rate in the per capita income is estimated at 5.2 per cent against 7.1 per cent in the previous year.
The National Income also known as the Net National Product at factor cost (i.e. 1993-94 prices) is estimated at Rs.1354385 crore during the current fiscal, against the previous year’s Quick Estimate of Rs.1266005 crore. In terms of growth rates, the National Income is expected to rise by 7.0 per cent during 2004-05, compared to 9.0 per cent in the previous year.
The estimates at current prices, place the national income at Rs.2542921 crore during the current financial year, compared to Rs.2252070 crore in the previous year, showing an increase of 12.9 per cent. In case of the per capita income at current prices, it is likely to attain a level of Rs.23308 compared to Rs.20989 during the previous year, indicating a rise of 11.1 per cent.
Though both the national income and the per capita income at constant prices show a marginal decline in the growth rate during 2004-05 in comparison with the previous year, but at current prices, the estimates indicate almost doubling in both national income and per capita income.
As already stated the CSO has placed the Gross Domestic Product i.e. the GDP at constant prices to be around Rs.1529366 crore during the current fiscal indicating a growth rate of 6.9 per cent. This is mainly due to, over 5 per cent growth in sectors like, mining, manufacturing, electricity, gas and water supply, construction, trade, hotels, transport and communication, financing, insurance, real estate and business services and community, social and personal services.
However, agriculture, forestry and fishing sector is expected to show a marginal growth rate of 1.1 per cent during the current fiscal against the previous year’s growth rate of 9.6 per cent. According to the information provided by the Department of Agriculture and Cooperation, production of food grains, oil seeds and sugar cane during 2004-05 is expected to decline by 2.7 per cent, 1.2 per cent and 0.9 per cent, respectively. But production of cotton during the year is expected to register a phenomenal growth of 23.8 per cent, compared to the previous year.
VKS/SR
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