Economy Likely To Grow By 8.5-9%

The Planning Commission expects the country''s economy to grow by 8.5 to 9 per cent during the current financial year and by 9 per cent in the 11th Five Year Plan period, saying global slowdown would not affect India in the medium term. The world economic slowdown will not affect the medium term growth prospects, Planning Commission Deputy Chairman Montek Singh Ahluwalia said, while addressing the ''TIE Entrepreneurial Summit 2007''. The economy was likely to clock a growth rate of 8.5 to 9 per cent during the current financial year, he said, adding that the Gross Domestic Product (GDP) growth rate was expected to be 9 per cent during the next three years and 10 per cent in the terminal year of the Plan (2011-12).