Budget Live: Govt has to bring annual growth to 9 p.c

NEW DELHI, INDIA: In the Union Budget for the year 2009-1010, being presented at Parliament today, Finance Minister Pranab Mukherjee, announced that Govt has to bring annual growth to 9 per cent. He also said the government should focus on inclusive growth.

The GDP growth rate in 2008-09 dipped to 6.7 per cent from average 9 per cent growth in previous three fiscal years, Mukherjee said. Observing that the government would lead the economy back to growth range of nine per cent per annum, he said a 'single budget speech can't solve all our problems'.

He said the fiscal deficit grew from 2.7 per cent to 6.8 per cent of GDP. The total fiscal stimulus during 2008-09 amounts to Rs 1,86,000 crore (Rs 1,860 billion), added the minister.

More details awaited