Size of national economy would jump from $70 billion to $95 billion showing a growth of $25 billion when the government would announce its final figures of growth in Economic Survey 2003-04.
This big shift came about when at least ten sectors are added into the GDP calculations, which were left outside the government's samples in addition to the replacing of base year for comparison of growth from 1980-81 with 1999-2000. Moreover, the recent economic growth has also helped.
However, the finance ministry is quickly finalising its estimates for Budget 2004-05, which is likely to stay over Rs 900 billion this time.
Achieving GDP growth rate beyond 6 percent for fiscal year 2003-04 seems realistic, according to the higher economic activity in economy.
There were at least ten various sectors of economy like telecom, IT, and others were accounted for in the renewed calculations of the government to be delivered before the budget in the Economic Survey before the budget.
Donors believe that the efficiency increased as four years of reforms have generated capacity to improve growth rate, which is becoming visible now. Apart from these factors, world recovery and growing exports would add to growth rate in medium term.
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