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The share of public sector in Gross Domestic Product (GDP) during 2003-04 ( at current prices) declined by 1.5 per cent i.e. from 24.7 to 23.2 in comparison with the previous year (2002-03), as per the Quick Estimates released by the Central Statistical Organisation of the Ministry of Statistics and Programme Implementation, recently. In quantitative terms i.e. of the total GDP estimated at Rs.2519785 crore, the public sector accounted for Rs.585196 crore while that of the private sector Rs.1934589 crore. During 2002-03 the GDP provisional estimate was Rs.2254888 crore, of which public sector accounted for Rs.557368 crore, while the share of the private sector was Rs.1697520 crore.
However, the public sector managed to reduce its decline to minus 1.2 per cent in Gross Domestic Savings from minus 4.1 per cent in the previous year. Also, the public sector improved its share in Gross Domestic Capital Formation to 24.2 per cent from 23.7 per cent in the previous year. There has not been much change in the share of public sector in Final Consumption Expenditure, which remained at 15 per cent.
The industry wise distribution of GDP at current prices during 2003-04 Quick Estimates was : Agriculture, Forestry and Fishing 22.8 per cent; Mining and Quarrying 2.5 per cent; Manufacturing 15.6 per cent, Electricity, Gas and Water Supply 2.1 per cent; Construction 6.2 per cent; Trade, Hotels and Restaurants 14.9 per cent; Transport, Storage and Communication 8 per cent; Financing, Insurance, Real Estate and Business Services 13.5 per cent and Community, Social and Personal services 14.3 per cent. Except for some minor variations in certain cases, the percentage of distribution of GDP industry-wise almost remained the same in comparison with the previous year i.e. 2002-03.
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VKS/SR
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