New Delhi: Stating that inflation will ease to around 6.5 percent only by the end of this fiscal, the Prime Minister’s Economic Advisory Council Monday projected the country’s growth at 8.2 percent for 2011-12.
Headed by former Reserve Bank governor C. Rangarajan, the council said while agriculture and industry will grow at a lower rate compared with the previous year, services will expand faster in the current fiscal.
“The projected growth rate of 8.2 percent, though lower than the previous year, must be treated as high and respectable, given the current world situation,” the council said.
India’s gross domestic product had expanded by 8.5 percent in 2010-11 and 8 percent in the year before. For agriculture, industry and services, the council has projected the growth at 3 percent, 7.1 percent and 10 percent for this fiscal respectively.