Finance Minister Pranab Mukherjee today said the government will endeavour to raise the economic growth rate to 7.5 -8 per cent in the next fiscal from about 7 per cent currently. Speaking to reporters in New Delhi, Mr Mukherjee said, Prime Minister's Economic Advisory Council (PMEAC) has pegged growth over 7 per cent this year and 7.5-8 per cent for next year. He said it is government's effort to achieve that growth rate.

The PMEAC in its review of economy released yesterday had projected a growth rate of 7.5-8 per cent for 2012-13. For the current fiscal, the Council pegged the growth rate at 7.1 per cent, marginally more than 6.9 per cent projected by the Central Statistical Organisation (CSO). The economy grew by 8.4 per cent in 2010-11.

Mr Mukherjee is expected to announce steps to boost the economy in the Budget for 2012-13 to be presented in the Lok Sabha on March 16.