India's economy to grow by 7.2 pc in FY10: PMEAC

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New Delhi, Feb 19: The Prime Minister's Economic Advisory Council (PMEAC) estimates that Indian economic growth will to grow by 7.2 per cent during the current fiscal.

PMEAC Chairman C Rangarajan said, "The growth rate could be more than the 7.2 per cent projected by the Central Statistical Organisation (CSO)."

He further said, "We are making an initial estimate that the economy would grow by 8.2 per cent in 2010-11 and by 9 per cent in 2011-12."

Rangarajan also suggested that the government should initiate fiscal consolidation measures in the forthcoming budget.

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