Economy at a glance for different sectors!
Performance of the different sectors:
- the agriculture sector deteriorated in 2015-16, with significant fall in cotton crop. The sector registered a negative growth of 0.19 pct. in the FY16.
- The industrial sector showed remarkable performance an registered a growth of 6.8 per cent during 2015-16.
- The manufacturing sector grew by 5 per cent against the target of 6.1 per cent.
- The mining and quarrying sector posted a growth of 6.8 per cent and surpassed its target of 6 per cent for 2015-16.
- Small and household manufacturing registered a growth of 8.2 per cent against the target of 8.3 per cent against the target of 8.3 per cent.
- Value addition in electricity, gas and water supply grew by 12.2 per cent against the target growth of 6 per cent.
- The construction sector showed marked growth og 13.1 per cent against the target of 8.5 per cent.
- The services sector met its target of 5.7 per cent
- Finance and insurance attained a growth of 7.8 per cent against a target of 6.5 per cent
- Transport and storage an communication grew by 4.1 per cent, lagging behind its target of 6.1 per cent.
- The wholesale and retail trade missed the target of 5.5 per cent and managed to grow at 4.7 per cent due to negative performance of the agriculture sector.
- Housing services achived the targeted growth of 4 per cent,
- Maintaining the same pace over three years in a row.
- Other private sectors grew positivily by 6.6 per cent during 2015-16
- Foreign Direct Investment during the financial year 2015-16 increased to USD 1.281 billion compared with USD 0.922 billion comparing the corresponding period last year.
- Power, oil and gas exploration, telecommunication and beverages were the sectors of choice for FDI. Major share of FDI has come from China and Hong Kong, USA, UK, UAE.
- The national savings were registered at 14.6 per cent of the GDP, falling short of the targeted 16.8 per cent, but increased from the revised estimate of 14.5 per cent in 2014-15.
The government approved a new Automobile Policy 2016-2021, which offers tax incentives to new entrants to help them establish manufacturing units. This new Auto policy will attract new car manufactures in the country and build a healthy car competition in the industry. It will also encourage business activities in the associated industrial units, its forward and backward linkages will improve socio-economic condition of common man in the country.