India union Finance Minister Pranab Mukherjee has said that India needs to target a double-digit economic growth in the near future.

He blamed the tight monetary policy measures by the country’s central bank and continuing uncertainties in the global economy for a slowdown in the Indian economic growth.

Mr. Mukherjee has earlier said that that country might have to settle for GDP growth of 7 per cent this year. He said while speaking to a television channel that the country’s GDP growth ahs been 7.3 per cent and the two quarters are unlikely to have substantial improvement and thus the GDP growth for the year is expected to be around 7 per cent.

Mr. Mukherjee has appealed to the corporate leaders in the country to help revive the growth in the country. The industry has urged the finance minister to take steps to boost investment in the country and put forward new reform measures.

The economic growth during 2011-12 is expected to be 6.9 per cent compared to 8.4 per cent a year ago. Mr. Mukherjee has expressed hope that the country will rebound from this slowdown and move to a high growth trajectory in the coming years.