Mukherjee predicts 7.75 percent economic growth

New Delhi, Feb 10 (ANI): Union Finance Minister Pranab Mukherjee on Wednesday referred to last year's economic survey projections and predicted that the economy could grow by 7.75 percent in the current fiscal. He said economic expansion is expected in the upper range of most predictions.

At a Consultative Committee meeting of the Colombo Plan, Mukherjee said, "The Economic Survey 2008-09 had indicated that the upper bound of growth in real GDP for the year 2009-10 could be around 7.75 per cent."

"With the latest GDP data on 2009-10 indicating 7.9 per cent growth in the second quarter, the growth outlook for the next two quarters and for the whole year is expected to be in the upper bound range of most predictions for the Indian economy," added Mukherjee.

Mukherjee said that the advance estimate predicted by the Central Statistical Organisation has projected the economy to grow by 7.2 percent in the current fiscal.

The Centre for Monitoring Indian Economy had forecast that the economy would grow by 7.75 percent in the current fiscal; while the Reserve Bank of India (RBI) had predicted a GDP growth of 7.5 percent.

The International Monetary Fund (IMF) had pegged GDP growth of 7.75 percent for 2009-2010. (ANI)