The Finance Minister of India, Pranab Mukherjee has said that the growth rate of the country may be at 8.75% in the fiscal year 2010-11. He was addressing at the International Convention which was organized by Association of National Exchanges Members of India (ANMI). Mr. Mukherjee has said that the year 2009-10 was quite eventful for the Indian economy.

The global financial meltdown has affected the countries economic stand. It has been a difficult last year for the nation. The nation's economy has witnessed significant slowdown in the growth rate in later part of the financial year. The financial crises that began in 2007 have spread all across the globe and pulled back the growth rate to a larger extent.

But the Minister has expressed that the country had responded well to such a complex situation. India had stood up with challenge and took necessary monetary and fiscal measures to bring the economy back on track. He has also informed that in the year 2009-10 there was a 7% growth. But he has anticipated that it can move up in the coming fiscal and may reach around 8.75%.