Survey likely to peg FY12 GDP growth at 9%

The robust performance of the Indian economy during the ongoing fiscal is likely to prompt the government to peg GDP growth in the 2011-12 fiscal at 9%, as well as withdraw stimulus measures in the forthcoming budget.

The Survey, to be tabled by Finance Ministry Pranab Mukherjee on Friday, is likely to highlight food inflation and the slow recovery in the euro zone as areas of concern for the domestic economy.

Sources said the Survey will also make a strong case for pushing economic reforms, especially raising caps on foreign direct investment (FDI), with a view to achieving a high growth rate on a sustained basis.

In her address to Parliament earlier in the week, President Pratibha Patil had said, "There is no room for complacency... We have to maintain the momentum for reforms on a wide front.