Let Noble Thoughts Come to us from
all Directions- Rig Veda
52
Hindu Rate of Growth
9%Hindu or India’s Rate of Growth and
13% in Gujarat is one of the fastest in the world.
Figures for the year 2004-05 in Rs. Crores
Gross Domestic SavingsRs. 907,416 Crores
(Share in GDS: Govt Sector:2.2 %Private Sector: 4.8% )
Share of Household Sector Rs. 687,079 Crores 76% of GDS
Foreign Investment Rs. 67,249 Crores *{7.4% of GDS}
(Direct Investment Rs. 25,395 Cr + Portfolio Investment Rs. 41,854 Cr)
(NRI Remittances: Rs. 110,000 Crores *{12.12% of GDS}
Who sustains our Growth Indian Housewives
Household Savings of Rs. 687,079 Crores is sustaining Bharat’s economy.
The country's growth is fully due to the people's efforts and particularly of
the households and, especially, the frugal attitude of housewives who wage
a battle day in and day out against inflation.
(The author R.Vaidyanathan is Professor of Finance and Control, Indian Institute of
Management-Bangalore, and can be contacted at
[email protected]).