President Pratibha Patil underlined a faster recovery of the economy, surpassing earlier estimates. She said the economy would grow by 7.5 per cent in 2009-10. The Central Statistical Organisation had earlier predicted an advance estimate of 7.2 per cent GDP (gross domestic product) growth rate for the current financial year.
Following claims of government managers that the economy was recovering from meltdown pressures, Patil pitched for higher growth rates for the next two years. “We now look forward confidently to further improvement in our growth performance. My government will aim at a growth rate above 8 per cent in 2010-11 and seek to achieve 9 per cent growth in 2011-12,” she said, adding that infrastructure development, agriculture and rural development, education and health will be given priorities to ensure an inclusive growth.
Even as the Opposition planned to corner the government on the issue of price rise, the President’s speech accorded highest importance to “relief from higher food prices”. Admitting “an unhappy pressure on the prices of food grains”, Patil said the government was able to counter any threat to the country’s food security.