| IIF/PR/2002 |
27thFebruary,
2002 |
| E conomic
Survey 2001-2002 |
Prof. J.D.Agarwal, Chairman &
Director, Indian Institute of Finance has commended the performance
and fiscal management of Indian economy in the last year as indicated
by Economic Survey tabled in Parliament today.
According to him, Indian economy has done tremendously well in terms
of growth in real GDP which is expected to be 5.4% - one of the highest
in major economies in world in recent years and particularly in view
of global recession and general downturn witnessed in different economies
of world during the last year and despite the adverse nature and manmade
calamities which were witnessed in India during the last year.
Dr. Agarwal has also appreciated the growth rate of 5.7% in agriculture
and allied sectors, 3.3% in industry and 6.5% in service sectors.
It is heartening to note that financial and other services are also
doing well in current year despite apprehensions about the growth
of this sector.He also appreciated the efforts of the Government in
managing the fiscal deficit at the level of 5.1% for the year 2001-2002,
containing inflation and maintaining the reasonable stability in exchange
rate of Rupee in terms of major curencies of the world.
According to him, Government deserves commendation for bringing significant
improvement in India's external debt situation with external debt-GDP
ratio at 21% and debt service ratio at 16.3% in 2000-2001.
Press
Secretary
Indian Institute of Finance |
|
