GDP growth slips, drought culprit

  • 30/06/2003

  • Indian Express (New Delhi)

India's gross domestic product (GDP) has now been estimated to have grown at the lowly rate of 4.3 per cent in fiscal 2002-03, revised downward from the earlier estimate of 4.5 per cent. The Indian growth rate slowdown is almost entirely on account of the "worst drought in over a decade' that brought agricultural production growth down to -3.2 per cent last fiscal compared to a 5.7 per cent growth in 2001-02.