New Delhi: Union finance minister Pranab Mukherjee on Friday expressed confidence that the measures announced in the Budget for 2010-11 would revive private investment and put the economy back on a 9% growth trajectory.
“I am optimistic that the measures I have outlined in this year’s Budget will revive private investment and put the economy back on the growth path of 9%,” he said at a SIDBI function in New Delhi.
He said that the economy in 2009-10 is expected to grow by 7.2%, which is “impressive by global standards”.
In the current fiscal (2010-11), Mukherjee said, the economy would expand by 8.25-8.75%.
On Thursday, Prime Minister Manmohan Singh had exuded confidence that the economy can get back to 9% growth by the end of 11th Five-Year Plan (2007-2012) and do even better thereafter.
After clocking an impressive 9% growth for the previous three fiscals till 2007-08, India’s GDP grew by a relatively modest rate of 6.7% in 2008-09.