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

Written by: Pti
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New Delhi, Feb 28 (PTI) India''s economy will revert tothe pre-crisis growth level of 9 per cent in the nextfinancial year.

"The Indian economy is expected to grow at 9 per centwith outside band of (+/-) 0.25 per cent in 2011-12, " FinanceMinister Pranab Mukherjee said while unveiling the Budgetproposals for 2011-12.

He said the Indian economy has regained the pre-crisisgrowth momentum, but there is a need for adjustment in thecomposition in demand and supply side.

"We have to ensure along with private consumption revivalin private investment is sustained and matches pre-crisisgrowth rates at the earliest," Mukherjee said.

Indian economy has already reverted to the high growthpath recorded by 8.9 per cent in the first half of the currentfiscal.

As per the CSO data released today, in the third quarter(October-December) the country''s Gross Domestic Product (GDP)grew at 8.2 per cent.

In the current fiscal, the economy is expected to expandby 8.6 per cent.

Even the pre-Budget Economic Survey tabled in Parliamentlast week expected the real GDP to grow by 9 per cent(+/-0.25) in 2011-12.

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, before theglobal financial meltdown brought it down to 6.8 per cent in2008-09.

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