Monday, 12 March 2012
Budget 2012 GDP growth seen at about 7%
India's economic growth is seen slowing to about 7% in the current fiscal year, but the government is confident of steering the economy back to a high growth trajectory of 8-9% soon, President Pratibha Devisingh Patil said on Monday.
"The long-term fundamentals of the Indian economy remain robust," Patil told lawmakers, adding the government was targeting to achieve a 9% annual growth in the five-year plan period ending on March 31, 2017.
Finance Minister Pranab Mukherjee, who will present the budget on Friday, is expected to set a target of 7.5% to 8% economic growth for the 2012-13 fiscal year beginning on April 1.
"The long-term fundamentals of the Indian economy remain robust," Patil told lawmakers, adding the government was targeting to achieve a 9% annual growth in the five-year plan period ending on March 31, 2017.
Finance Minister Pranab Mukherjee, who will present the budget on Friday, is expected to set a target of 7.5% to 8% economic growth for the 2012-13 fiscal year beginning on April 1.
