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'GDP growth may reach 9%'

Buoyed by the impressive first half growth in the economy, Planning Commission deputy chairman Montek Singh Ahluwalia on Sunday said the country’s economic growth will reach the pre-crisis levels of 9% starting FY 12.

business Updated: Dec 26, 2010 22:57 IST

Buoyed by the impressive first half growth in the economy, Planning Commission deputy chairman Montek Singh Ahluwalia on Sunday said the country’s economic growth will reach the pre-crisis levels of 9% starting FY 12.

"This year we had set a target of 8.5% (for GDP growth), certainly that will be exceeded based on first half numbers. We are hoping that next year, we can get back to 9%t... the record up-till now is quite impressive," Ahluwalia said, addressing a lecture at the Indian Institute of Technology, Bombay.

The country's economy had witnessed a 9% growth per annum for four years prior to the beginning of the global financial crisis in 2008, which had slid to 6.7% and 7.4% in the past two years as the globe was coming out of the crisis, Ahluwalia said.

President Pratibha Patil had on Saturday hoped that the GDP growth will be up to 10% in 2011-12.