What is the percentage of actual tax payers in india in 2001-02?
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THE Indian economy is passing through a difficult phase caused by several unfavourable domestic and external developments. Domestic output and demand conditions were adversely affected by poor performance in agriculture in the previous two years.
The global economy experienced an overall deceleration and is estimated to record an output growth of 2.4 per cent during the past year. These tendencies were exacerbated in the aftermath of the September 11 terrorist attacks in US. Consequently, export growth has suffered and industrial profitability has also been affected by the prevailing low commodity and product prices globally. Despite these constraints, growth in real GDP in 2001-02 is expected to be 5.4 per cent as estimated by the Central Statistical Organisation. This growth rate marks some recovery over the low growth of 4 per cent in 2000-01. It will also be one of the highest growth rates in the world in the current year.