India to grow at 8.25-8.75 p.c. in current fiscal: Pranab

October 26, 2010 12:27 pm | Updated November 28, 2021 09:42 pm IST - New Delhi

Finance Minister Pranab Mukherjee during a press conference in New Delhi. Strong domestic demand and robust investment climate had led to surge in capital inflow, Mr. Mukherjee said. File photo

Finance Minister Pranab Mukherjee during a press conference in New Delhi. Strong domestic demand and robust investment climate had led to surge in capital inflow, Mr. Mukherjee said. File photo

Economy will grow by 8.25-8.75 per cent this fiscal and will return to an average growth rate of 9 per cent soon, but food prices continue to drive inflation, Finance Minister Pranab Mukherjee said today.

Stating that gross tax revenue has grown at a robust pace so far in the current fiscal and proceeds from the spectrum sale as also disinvestment would help fill the fiscal deficit, Mr. Mukherjee said that economic growth would exceed 9 per cent in near future.

The auction of 3G and broadband spectrum and disinvestment proceed would help meet the fiscal deficit target, Mr. Mukherjee said at the annual Economic Editors Conference here.

The gross tax revenue grew by 27.3 per cent so far this fiscal as opposed to negative growth rate in the same period last fiscal, he added.

For the current fiscal, he pegged the economic growth at 8.25-8.75 per cent.

On inflation, the Finance Minister said that food prices were the main driver, while he also expressed concerns on rising rupee having implications on the country’s exports.

He said that strong domestic demand and robust investment climate had led to surge in capital inflow.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.