Annual GDP growth rate projected at 9.2 per cent

New Delhi, Feb 28 (UNI) The government today projected the GDP growth rate at 9.2 per cent in 2006-2007 and expressed commitment to enhance savings and investment to put the economy on a higher trajectory.

Finance Minister P Chidambaran, while presenting the Budget Proposals for 2006-2007 in Lok Sabha, said the eight per cent growth target set for the Tenth Plan, would be ''nearly achieved.'' In his one hour and 45 minute Budget speech, the Finance Minister said the government was committed to its promise of ''inclusive growth'' and, given the right mix of policies, the poor would benefit from growth ''driven by savings and investment.'' Pointing out that the UPA government had, during the past three years, registered an average growth rate of 8.6 per cent, Mr Chidambaram said ''the biggest plus'' was that the growth rate had improved from 7.5 per cent in 2004-2005 to 9 per cent (Quick Estimate) in 2005-2006 and, according to Advance Estimate, to 9.2 per cent in 2006-2007.

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