Indian economy to grow by 7.5 pc in 2009-10: PM

New Delhi, Feb 6 (PTI) Indian Prime Minister Manmohan
Singh Saturday said the economy is expected to register a
growth rate of 7.5 per cent in this financial year (2009-10),
up from 6.7 per cent a year ago.
"In the current financial year, the growth rate of
economy is likely to be 7.5 per cent," he said while
addressing a meeting of the states' Chief Ministers on price
rises here in the capital.
The economy, which had been growing at over 9 per cent,
slipped to 6.7 per cent in 2008-09 following the impact of the
global economic crisis triggered by the fall of investment
bank Lehman Brothers in September 2008.
Driven by stimulus packages and easing of monetary
policy, India's economy during the second quarter (July-
September 2009-10) expanded by 7.9 per cent, much more than
anticipated by any analyst or thinktank.
The Reserve Bank of India in its recent review of the
monetary policy too projected a growth rate of 7.5 per cent
for the current fiscal.
Union Finance Minister Pranab Mukherjee, while presenting
the Mid-Year Review of the Economy had said that economy could
grow in excess of 7.75 per cent despite the impact of drought
and floods on agriculture output. PTI