India should return to an average 9 per cent growth rate in the near term, as most economic indicators suggest a pick up, Finance Minister Pranab Mukherjee said on Sunday.
After the global financial crisis of 2008, India had veered off the trajectory of around 9 per cent growth, slowing down the the Asia's third-largest economy to under 7.5 per cent in 2009-10.
"I am optimistic, India will go back to a growth of around 9 per cent on an average... Which was the growth at pre-crisis levels," Mukherjee said.
The finance minister said there was an evidence of a pick-up in corporate earnings, profit margins and the overall business sentiment.
Mukherjee said although there were some concerns about slowing manufacturing, growth projections for the current fiscal were on the track.
The government expects the economy to grow at 8.5 per cent in the fiscal year that ends in March 2011.
