Click to play videoNew Delhi: With the budget session round the corner, Union Finance minister Pranab Mukherjee has said that India may have to settle for a GDP growth of 7 per cent in the coming year.
In an exclusive interview to Network 18, Mukherjee said, "In the first two quarters, our GDP growth is 7.3. I don't think in the remaining two quarters there will be substantial improvement. Perhaps we may have to settle for GDP growth of 7 per cent this year."
"Had it been previous decade I'd have been satisfied with 7 per cent growth, but today I can't because I have already reached 9 per cent."
He said that while he would have to achieve higher growth rate, at the same time he would have to contain the inflationary pressure, adding that it must be brought to a tolerable level.
Mukherjee, however, said that a stable US economy and resolution of the eurozone crisis would help India.
"I do feel that if the American economy is stable and with a credible package to resolve the eurozone crisis, this will help reduce the adverse impact of the external measures and with our own efforts, if not in the immediate next year, in the next couple of years, we'll be able to come back to the path of higher growth trajectory," said Pranab.
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