Economy to grow by 9 pc in 2011-12: Survey

Written by: Pti
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New Delhi, Feb 25 (PTI) India''s economy will revert tothe pre-crisis growth level of 9 per cent in the next fiscal,buoyed by strong fundamentals, the Economic Survey 2010-11predicted today.

"Based on the performance of the economy over the lastfive years and analysis of the underlying trends... India''sreal GDP is expected to grow by 9 per cent (+/-0.25) in2011-12," the pre-Budget Survey tabled in Parliament todaysaid.

For the current fiscal, the economy is expected to growat 8.6 per cent, it said.

The Indian economy had grown at a rate above 9 per centfor three consecutive years, starting 2005-06, the Surveysaid, adding, "So the economy is expected to revert topre-crisis growth levels next year."

It further said that the growth is broad-based, with arebound in agriculture output and continued momentum inmanufacturing and private services.

The agriculture sector is likely to grow at the rate of5.4 per cent in 2010-11, while industrial output is expectedto grow by 8.6 per cent and the manufacturing sector is likelyto register 9.1 per cent expansion, it added.

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