Economy to grow at 9 pc: Chidambaram

New Delhi: Finance Minister P Chidambaram said that Indian economy is expected to grow by 9 per cent.

Chidambaram also said that the economy could register an even higher growth in the next few years.

According to government estimates, the economy has grown by 9.1 per cent during April-September 2006-07.

He also said that the widening trade deficit is not a cause of concern as foreign exchange inflows from other sources are balancing it out.

Earlier, the Government announced that the trade deficit in the first eight months of this fiscal has grown to $36.04 billion, much higher than the $27.64 billion in the same period last year.

Exports in the first eight months of the current fiscal, posted a 39 per cent year-on-year increase to $80 billion.

Imports in the April-November period increased to $115.63 billion during this period as against $84.7 billion of the corresponding period in 2005.