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Economy may not grow around 9% in FY12: FM

Economy may not grow around 9% in FY12: FM
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First Published: Wed, May 11 2011. 04 29 PM IST
Updated: Wed, May 11 2011. 04 29 PM IST
New Delhi: India’s economy may not grow around 9% in the current fiscal year to end-March 2012 due to volatility in international commodity prices and other supply constraints, finance minister Pranab Mukherjee said in statement on Wednesday.
In February, the government had forecast the economy to grow in the range of 8.75% to 9.25% this fiscal year, higher than an estimated 8.6% expansion in the last fiscal year.
Mukherjee had said last week India’s fight against inflation could knock about half a percentage point off economic growth in Asia’s third-largest economy this fiscal year.
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First Published: Wed, May 11 2011. 04 29 PM IST
More Topics: India | Economy | Growth | Pranab Mukherjee | Inflation |