Pranab Mukherjee hopeful of seven percent growth in GDP during 2010 - India News and Travel Times Provides India-centric and other News and Features

Union Finance Minister Pranab Mukherjee on Monday said that he expects the Indian economy to grow around seven percent by the fiscal year end of 2010. As per the Government's data, the economy grew by 7.9 percent in the quarter through September from a year earlier, shattering market forecasts as stimulus measures boosted demand and manufacturing activity surged. Addressing the media in the national capital, Mukherjee said that although he expects more than seven percent GDP growth, it will depend on the third quarter figures. "The second quarter figure is quite satisfactory. It is 7.9 percent and in fact, if you compare with the 7.9 percent growth in the second quarter, it is more than the first quarter and second quarter of the year 2008 because at that level, the growth was 7.8 percent and 7.7 percent respectively," Mukherjee said. "Taken together in the first two quarters, I do hope it will be possible for us to achieve growth of seven percent plus. But, still it is too early to predict. So, I am keeping my fingers crossed till the third quarter figure is available," he added. Meanwhile, Union Home Minister, P. Chidambaram expressed his confidence on the year ending with seven percent growth. "I have been maintaining that the year will end at seven percent. The first quarter led to some diffidence, but I think the second quarter has boosted our confidence. I am still confident that the year will end with seven percent. It shows the resilience and the fundamental strength of the Indian economy. I think everyone should be happy," Chidambaram said.