Indian economy to grow at 8.5 per cent rate in 2010-11, says Pranab

New Delhi, Sep.16 (ANI): Union Finance Minister Pranab Mukherjee said here on Thursday that the country's economic growth would be 8.5 percent in the current fiscal, adding that it is on the path of high expansion in 2011-12.

"Indian economy is back on the path of growth. The latest figure released by CSO (Central Statistics Office) and the latest industrial production figures released clearly demonstrate that it would not be difficult to achieve nine percent growth as being projected in my Budget from the year 2011-12, and surely this year, our growth would be not less than 8.5 percent," said Mukherjee while delivering an address during an event.

Mukherjee added that people think the 8.5 percent estimate is conservative, but the ruling government wants inclusive growth.

"UPA government wants to achieve growth which is described as inclusive growth, growth in encompassing entire sections of the society," said Mukherjee.

The Indian economy grew by 8.8 percent in the first quarter of this fiscal, which was the fastest growth in last three years. (ANI)