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Economy to grow by 7.75 pct in FY10: FM

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Agencies

Posted: Feb 10, 2010 at 1039 hrs IST

New Delhi Referring to last year's economic survey projections that Indian economy could grow by 7.75 per cent this fiscal, Finance Minister Pranab Mukherjee said that the economic expansion is expected to be in the upper range of most predictions.

"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," Mukherjee said at Consultative Committee meeting of the Colombo Plan.

The Finance Minister said that the Central Statistical Organisation in its advance estimate has projected the economy to grow by 7.2 per cent this fiscal.

Recently the Centre for Monitoring Indian Economy had forecast that the economy would grow at 7.75 per cent for this fiscal, while the Reserve Bank had pegged the GDP at 7.5 per cent.

The International Monetary fund has also said that the Indian economy is likely to grow at 7.75 per cent for the year 2009-10.

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India's Economy growth by K. Samsundaram on 11 Feb 2010

What is economy growth and projection for coming year if it is not reaching the common man?Only some business houses are increasing their turnover and showing that economy is growing.But where is the effect of it on the nation?Poor roads and infrastructure.Even the condition of National Highways are not up to the mark leading to huge wastage of fuel and maintenance costs and wastage precious spare parts and unbearable inconvenience to the passengers.Housing sector in the Hands of Dadas and political goondas.Common man cannot afford a comfortable house. Ministers suggest not to eat sugar, dall,onions, potatos for that matter any thing they feel right, like milk or essential foods, because we will not die if don't eat them.Where is the distribution of economy? where are alternative sources for survival.Iron out such areas and declare the real growth.Simple projection of percentage will not give solace to the people.

Economy to grow by SK on 10 Feb 2010

For the last Six years the P.M or F.M are making these type of statements that economy is growing at 8% - 10%. Why 75 % of India's population is so poor and living in slums. In some states the condition of people is worst than Africa'poor nations. Just building two - three new airports and changing the glass panes of buidings to blue does not mean that India is growing. These 7 - 10 % figures are mere number game to make people fool just as Mr. Lalu was doing during his railway minister tenure.

Impediment in path of progress(Fill one's pocket) by Rajesh on 10 Feb 2010

I don't know much about the economy(on a larger picture) but definitely, the causes of impediment in the growth has taken the driver seat, and is none other than the State Government and Political Parties playing the fiddle in business parallely on a larger frame as well. The timing with which the most state government has taken the seat is astounding. Hat's off to India!

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