India's economy will revert to the pre-crisis growth level of 9% in the next fiscal, buoyed by strong fundamentals, the Economic Survey 2010-11 predicted today.
"Based on the performance of the economy over the last five years and analysis of the underlying trends... India's real GDP is expected to grow by 9% (+/-0.25) in 2011-12," the pre-Budget Survey tabled in Parliament today said.
For the current fiscal, the economy is expected to grow at 8.6%, it said.
The Indian economy had grown at a rate above 9% for three consecutive years, starting 2005-06, the Survey said, adding, "So the economy is expected to revert to pre-crisis growth levels next year."
It further said that the growth is broad-based, with a rebound in agriculture output and continued momentum in manufacturing and private services.
The agriculture sector is likely to grow at the rate of 5.4% in 2010-11, while industrial output is expected to grow by 8.6% and the manufacturing sector is likely to register 9.1% expansion, it added.
