FM sticks to 8.5% growth despite higher IMF forecast

FM sticks to 8.5% growth despite higher IMF forecast

New Delhi, July 19: Finance Minister Pranab Mukherjee today said he will not be swayed by the IMF’s higher growth projection of 9.5 per cent but will stick to his conservative outlook of about 8.5 per cent plus economic expansion for the current fiscal.

“Always, we have dispute with the IMF. I was inclined to accept the IMF assessment for India’s growth for the year when they projected it 9.4-9.5 per cent. But I am being conservative in my assessment...I will be happy with 8.5 per cent plus growth,” Mukherjee told a conference on financial inclusion hosted by industry body CII here.

Earlier this month, the International Monetary Fund (IMF) had hiked the country’s growth forecast for 2010 to 9.5 per cent from its April projection of 8.8 per cent.