PM targeting 10% growth in FY12-FY17 period

Published on Sat, Apr 03, 2010 at 11:29 |  Source : Reuters

Updated at Mon, Apr 05, 2010 at 09:15  

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PM targeting 10% growth in FY12-FY17 period

India is targeting 10% gross domestic product growth over the fiscal years between 2011/12 to 2016/17, Prime Minister Manmohan Singh said on Thursday.

He also said India must ensure inflation remains under control.

India's economy is projected to expand 8.5 % in the current fiscal year and 9 % in the next.

A pick up in the economy has seen a rise in inflation with the headline number poised to breach 10 % in March, for which the data is due on April 14, above February's 9.89 %.

The Reserve Bank of India citing inflationary pressures and an improving economy, hiked key rates by 25 basis points last month and is expected to raise the rates again by a quarter of a percentage point at its policy review on April 20.

The latest Reuters poll shows analysts expect the rates to go up by another 100 basis points between now and end-December.

  

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