Pranab Mukherjee confident that economic growth will touch nine percent

New Delhi, Apr 2 (ANI): Finance Minister Pranab Mukherjee on Friday said the measures announced in the 2010-2011 Budget would revive the private investment and bring the economy back at a nine percent growth mark.

"I am optimistic that the measures I have outlined in this year's budget will revive private investment and put the economy back on the growth path of nine per cent, said Mukherjee on the sidelines of the function of Small Industries Development Bank of India (SIDBI).

"The economy in 2009-10 is expected to grow by 7.2 per cent, which is "impressive by global standards," he added.

Mukherjee further said in the current fiscal (2010-11), the economy would expand by 8.25 to 8.75 percent.

Prime Minister Dr Manmohan Singh had on March 23 said that the Indian economy would grow at 8.5 percent during the next fiscal.

"Despite adverse global situation, the Indian economy grew by 6.7 percent during fiscal 2008-09, and it has accelerated to 7.2 per cent in the fiscal year which is about to end in a few days time," said Dr Singh.

"These rates are well above those seen in the developed world, and reflect the underlying strengths of our economy. We expect to achieve 8.5 per cent growth rate in 2010-11 and I hope we can achieve a growth rate of nine percent in 2011-12," he added. (ANI)