Economy upswing in 2004

The cheers are up and high for the Year 2004 with the agriculture, manufacturing and services sectors bringing the economy closer to realising the Tenth Plan annualised growth target.

According to the latest data from Central Statistical Organisation (CSO) the Gross Domestic Product (GDP) growth rate shot up to a record 8.4 per cent during the second quarter of 2003-04. This was after a decade of sluggish economic growth, when the Indian economy found it impossible to achieve over six per cent of GDP growth rate

A high profile growth rate (8 per cent or over)means more income to the government as well as the private sector. A 7 per cent growth rate means better income for average person. Either ways, there will be more disposable income with the consumers which will spur the economic scenario manifold.

Source: Deccan Herald