'India will maintain 7 percent growth'
The Indian economy will grow at 7 per cent in the current fiscal, External Affairs and stand-in Finance Minister Pranab Mukherjee said in New Delhi.business Updated: Jan 29, 2009 19:49 IST
The Indian economy will grow at 7 per cent in the current fiscal, External Affairs and stand-in Finance Minister Pranab Mukherjee said in New Delhi on Thursday.
"Indian economy will bounce back as the fundamentals of the economy are strong," Mukherjee told reporters after meeting officials of the finance ministry.
"Even at this stage, the projection of the growth, though it will not be 8.9-8.8 per cent, but it would be around 7 percent," he said, adding: ""There is no doubt in it."
Mukherjee said the government was closely monitoring the impact of various measures announced recently to stimulate Indian economy.
Mukherjee's projections were at odds with that of the World Bank that lowered India's growth projections to five per cent in 2009 during which it said the world economy is expected to come to a "virtual halt".