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India To Achieve 8.5% Growth In Next Fiscal Year: PM

RTTNews - Prime Minister Manmohan Singh expressed confidence that Indias economy would grow by 8.5% during the next fiscal and would accelerate to 9% in the following year from an estimated growth of 7.2% this fiscal.

He said this while inaugurating the conference on “Building Infrastructure : Challenges and Opportunities” hosted by the Planning Commission in New Delhi on Tuesday.

Singh said the economy grew at an average annual rate of around 9% before the global economic meltdown. It slowed down in 2008 due to global crisis that continued into 2009, when it was compounded by a severe drought faced by the country.

Despite these adverse circumstances, the economy grew by 6.7% last fiscal. Looking ahead, the country should aim at accelerating the pace of economic growth to around 10% per annum in the 12th Five Year Plan 2012-17 to generate employment for the youth and remove poverty, Singh said. However, he believed that the country should do even better.

via India To Achieve 8.5% Growth In Next Fiscal Year: PM.

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