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PM's council pegs growth at 9%

The Prime Minister's Economic Advisory Council today presented an optimistic outlook for the economy, putting economic growth this fiscal at 9 per cent, half a percentage point higher than the Reserve Bank of India's projections, and inflation a percentage point lower than the central bank.  Projected inflows for net foreign direct investment are pegged at $15 billion, up from the current level of $8.4 billion. However, merchandise export forecasts at $147 billion are significantly lower than the commerce ministry's target of $160 billion.  "The fundamentals of the economy are ...