FM optimistic of 7 per cent growth

Buoyed by the official growth figures for the second quarter (July-September 2009-10) which showed the Indian economy recording a growth rate of 7.9 per cent, (See: Economic growth beats projections by wide margin), finance minister Pranab Mukherjee today said that the economy could grow by over 7 per cent this financial year. 

The quarterly growth during the preceeding quarter was 6.1 per cent.

Mukherjee told reporters that taken together, the figures for the two quarters  could make it be possible to achieve 7 per cent plus.

Even Planning Commission deputy chairman, Montek Singh Ahluwalia feels that given the performance during the first half of the year, could lead to raising the GDP growth estimate from 6.3 per cent. 

RBI has projected the most conservative economic growth estimate of of 6 per cent for this fiscal, the Planning Commission at 6.3 per cent and the finance minister Pranab Mukherjee 6-7 per cent.

"In fact it is more than that of the first two quarters of the previous year, which were at 7.8 per cent and 7.7 per cent," Mukherjee told repoters. He was, however, quick to add that it was still is too early to make a definite prediction. "I will wait for the third quarter figures," he said.