Kolkata, July 04: Pinning hopes on a normal monsoon, Finance Minister Pranab Mukherjee today said the Indian economy will expand by 8.5 per cent this fiscal and achieve double-digit growth in the next two years.
“If the monsoon this year is favourable, then we will get 8.5 per cent (this year) and nine per cent plus next year and double digit growth thereafter in a sustainable manner,” Mukherjee said at an event on financial inclusion organised by Assocham here.
Prime Minister Manmohan Singh had also said yesterday that the Indian economy is targeted to grow by double digits in the 2-3 years.
During 2009-10, Indian economy grew at better than expected rate of 7.4 per cent. The GDP expanded over 8.6 per cent in the last quarter of the same fiscal.
–Agencies