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Indian Economy Since 1991 0.1 Group 2
Indian Economy Since 1991 0.1 Group 2
- Akshay Kriplani
high level
India relied increasingly on borrowing from foreign sources from mid-1980s
Contribution of Industries
The steady increase in the proportion of services in the national economy reflects increased market-determined processes contribution of various Industries and Prime Sector towards the GDP in 1991
Sector Trade / Transportation / Communication / Finance / Public & Private Sector Services Agriculture / Mining / Fishing Manufacturing / Construction / Utilites
Percentage 50%
1980 1990
1990 1991
220
332
26%
38%
Slower economic growth and higher inflation in FY 1990 and FY 1991 reversed the trend.
7.3
7.3
8.5 7.3
9.2
9.7
1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 1.3 5.1 5.9 7.3 7.3 7.8 4.8 6.5 6.1 Year 4.4 5.8 4 8.5 7.3 9 9.2 9.7
No's in %
10 8 6 4 2 0 Inflation
9.6 7.5
10.3
10.2 9.2 7.2 5.8 4.7 4 3.9 4.1 3.8 3.8 4.3
6.4
1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 13.5 9.6 7.5 10.3 10.2 9.2 7.2 13.2 4.7 Year 4 3.9 4.1 3.8 3.8 4.3 5.8 6.4
1988 to 2003.
From the financial year 2004 onwards the average gross domestic product of India 'at cost factor' reflected a stable growth. The Indian GDP registered an impressive growth rate of 8.5% during this period and the present growth target is secured at 9.5% to 10 %.