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.

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.

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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.