India's annual Economic Survey forecast predicted that the country would grow as much as 8.75% in the coming fiscal year. The country's Finance Minister Pranab Mukherjee said that India had moved past the "despondency and gloom" of 2009, and ends the fiscal year "with confidence".
The country's economy is expected to continue on its "high growth trajectory" that it enjoyed before the global financial crisis.
However, the government's chief economic advisor, Kaushik Basu, warned that food inflation is a major issue which requires serious policy attention, to support the growth of the agriculture industry. The director-general of the National Council for Applied Economic Research, Suman Bery, also highlighted that India's rosy forecast could lull policymakers into complacency.
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India shakes off gloom to forecase 8.8% growth [Financial Times, p2, 26 Feb 2010]