The 8.9 per cent growth during the first half of this fiscal notwithstanding, Finance Minister Pranab Mukherjee today said he would prefer to be conservative and would be happy if the economy this fiscal were to grow by 8.75 per cent.
?I am a bit conservative so I would be happy if it is 8.75 per cent,? Mukherjee said while addressing annual function of industry chamber Assocham.
The country?s economy grew by 8.9 per cent in the first half of the current fiscal, up from 7.4 per cent in the previous year.
The Economy Survey in February 2010 has pegged the GDP growth at 8.5 per cent for the current fiscal, with 0.25 per cent variation on the either side, while the mid-year review of the economy projected growth rate of 8.75 per cent, with 0.35 per cent variation on both the side.
The finance minister exuded confidence that the fiscal deficit could be contained at 5.5 per cent of GDP this fiscal, but said the roadmap for bringing it down to 3 per cent was yet to be set.
He also pointed out the risks associated with high current account deficit, and pegged the current account deficit at USD 55-56 billion for this fiscal.
?This (current account deficit) cannot be maintained for a long time,? Mukherjee added.