9% growth forecast in 2011-12 by PM council

Feb 22, 2011 |

Age Correspondent

New Delhi

At a time when concerns are being expressed about India’s growth in the next fiscal, the Prime Minister’s Economic Advisory Council on Monday projected a growth rate of nine per cent in 2011-12. It also said it favoured a tight monetary policy to control inflation and withdrawal of the stimulus package in the forthcoming Union Budget.

“We hope economic growth in the next fiscal year will be about nine per cent. Services as well as industry are expected to do better,” said council chief C. Rangarajan while releasing the Review of the Economy 2010-11. In line with projections by other government bodies, the PMEAC predicted that GDP would grow by 8.6 per cent in the current fiscal.
The PMEAC says industry will grow by 9.2 per cent in the next fiscal, compared to 8.1 per cent in the current year.

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