FinMin Mukherjee says will try to achieve 7.5%-8% econ growth in fiscal 2012-13

New Delhi: The Indian government will try to clock a gross domestic product (GDP) growth of 7.5%-8% in the next financial year as projected by its panel, against the little over 7.1% growth pegged for the current fiscal, Finance Minister Pranab Mukherjee said Thursday.

"PMEAC (Prime Minister's Economic Advisory Council) has pegged growth over 7% in 2012 and 7.5-8% for 2013. We will try to achieve that growth rate," Mukherjee told reporters.

Earlier Wednesday, PMEAC had announced that India's economy will likely grow 7.5%-8% in the next financial year, higher than the 7.1% growth seen for this fiscal, as investments may pick up due to price stability and appropriate policy measures taken by the government.

Further, Mukherjee expressed worries over the widening current account deficit, but assured of a potential correction based on the country's diversifying export destinations and new manufacturing policy.

According to the PMEAC, India's current account deficit has weakened much more than was expected, averaging 3.6% of GDP in the first half of 2011-12. Efforts were needed to bring it down to 2%-2.5%, it had added.