India to clock double digit growth by 2012: Mukherjee

Lalit K Jha
Washington, June 23 (PTI) Indian economy is likely to
clock double digit growth by 2012 and is expected to grow over
8.5 per cent in the current fiscal, Indian Finance Minister
Pranab Mukherjee has said.
"That it (double digit growth) would perhaps be by
2012," Mukherjee told PTI in an interview here.
Asked about the GDP outlook for the current fiscal, the
Finance Minister said, "Of course, I explained the state of
Indian economy and we are going to have more than 8.5 per
cent growth."
IMF has projected 8.8 per cent, he said, adding, "in our
economic survey we have projected, for the year 2010-11, eight
and half per cent. As per our present indication is, we are
going to achieve that."
During 2009-10, Indian economy grew at better than
expected rate of 7.4 per cent. The GDP expanded over 8.6 per
cent in the last quarter of the said fiscal.
The GDP growth was despite agriculture output remained
flat.
Allaying fears of European crisis having impact on the
Indian economy, Mukherjee said, it will not have much impact
as the exports to region is limited.
"Not much (impact), because our export is about four
per cent of our total export. Therefore, it could not have
that much adverse impact," he said.
"But, if it spreads, then it may have. Therefore, it
is necessary that it should be confined to those countries.
And it is expectedly package which has been worked out to
resolve the crisis is about 750 million Euro that will take
care of it," Mukherjee added. PTI