Economy to grow 7% in FY10, says Plan panel

The Indian economy is expected to grow up to 7 per cent in the next financial year, riding on the fiscal stimulus measures undertaken by the government, Planning Commission member Abhijit Sen said today.

Even if the effects of the stimulus packages announced by the government were not included, the economy would grow at 5 per cent in 2009-10 in a worst case scenario according to Planning Commission calculations, Sen told reporters here on the sidelines of a CII summit here.

“We have done a worst case calculation on the basis of no effect of the stimulus and what we know currently about the world economy. On that basis, the worst case scenario is about 5 per cent growth,” he said.