New Delhi, April 28: The Government today projected a bright outlook for the economy for 2010-11, saying that the various measures taken by it had resulted in revival of demand and a heartening industrial recovery with a favourable capital market condition.
The economic stimulous had a salutary effect on the economy, it said.
The growth rate was likely to be 9 per cent in 2011-12 from 8.5 per cent in 2010-11, said Leader of the Lok Sabha and Minister for Finance Pranab Kumar Mukherjee while moving the Finance Bill for 2010-11 in the House today.
He, however, expressed concern over the double digit food inflation, but said with normal monsoon forecast this year and various steps taken to strengthen wheat and rice buffer stock for the PDS, the food situation for poor was likely to ease soon.
Already the signs of softening of the food inflation were visible, the Minister said pointing out that the inflation had come down from the peak rate 23.8 per cent in January 2010.
—Agencies