Economic growth to surpass 7.2 percent in current fiscal: Mukherjee

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New Delhi, Feb 26 (ANI): Union Finance Minister Pranab Mukherjee on Friday tabling the General Budget for 2010-2011 in Parliament said the economic growth in the current financial year could go beyond 7.2 percent as projected by the Central Statistical Organisation (CSO).

Mukherjee said, "Final figures may turn out to be higher as the economy has done well in the second quarter ending September 2009 recording a growth rate of 7.9 percent."

The economic growth figures released by the Central Statistical Organisation said economy grew by six percent in the third quarter ending December 2009.

The economy grew by 6.2 percent during the same period in the last fiscal.

The decline was mainly due to a 2.8 percent fall in agriculture production and 2.2 percent in community, social and personal services.

The manufacturing sector however, continued its upward slope expanding by 14.3 percent against 1.3 percent in the same period last year.

India's growth rate slipped to 6.7 percent during 2008-2009 following the global meltdown from over 9 percent during the three previous years.

Following the global crisis, India's growth rate slipped to 6.7 per cent during 2008-09 from over nine percent during the three preceding years.

Planning Commission Deputy Chairman Montek Singh Ahluwalia said, "It (economic growth) is on expected lines and we are hopeful of 7.2 per cent growth this fiscal."

The government is optimistic of achieving the growth rate for financial year 2010, but for this the economy would have to grow at an express rate in the fourth quarter. (ANI)

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