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'9% growth forecast difficult to achieve'

Feb 27 2011, 15:31 IST
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SummaryThe Economic Survey had forecast over 9 per cent growth next fiscal.

The government may be bullish about economic growth next fiscal, but leading economists are not as confident as North Block mandarins about India's ability to even maintain the current rate, given domestic and global headwinds facing the country.

The Economic Survey tabled in Parliament by Finance Minister Pranab Mukherjee on February 25 had forecast over 9 per cent growth next fiscal and pegged the current year growth at 8.6 per cent.

Economists at the leading rating and research agencies maintained that achieving the higher projected growth trajectory looks unlikely, given the medium-term macroeconomic trends.

Ashwin Parekh of Ernst & Young said, "The 9 per cent plus growth projection looks difficult to achieve. The past four months have completely changed the macro-economic conditions not only for us, but for the entire global economy.

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