The Economic Survey today predicted that India would bounce back to a high nine per cent growth in 2011-12 on the way to becoming world's fastest growing economy in four years. The Survey says, it is entirely possible for India to move into the rarefied domain of double digit growth. <br/><br/>The document, which assesses the state of the economy, warned that high food prices will rise further over next few months and criticised the food management policies that have led to unacceptably high prices of items like sugar. The pre-budget Survey, 2009-10 was presented by Finance Minister Pranab Mukherjee in Parliament today.<br/><br/>The survey maintains that India can not be immune to global price situations. It also pointed out that international crude prices almost doubled and it may not be viable for long from the fiscal side to hold its impact on oil prices in the country.<br/><br/>It maintains rates of savings and investments are likely to rise further. The manufacturing sector has shown buoyancy in recent months and recorded 9.2 per cent growth in the second quarter. <br/><br/>The growth rate index of industrial production in December 2009 touched 16.8 per cent. The Survey says there is also a substantial pickup in corporate earnings and profit margins.