Economy may not grow around 9% in FY12: Pranab | business | Hindustan Times
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Economy may not grow around 9% in FY12: Pranab

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 today.

business Updated: May 11, 2011 16:32 IST

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.