The Finance Ministry says that economy is likely to clock 8.75 per cent growth this fiscal, if global recovery is on track. Chief Economic Adviser to the Finance Ministry, Kaushik Basu said that 8.8 per cent growth in the first quarter is encouraging but the second quarter may be difficult. He, however, expressed confidence that the third quarter will register a growth of over 9 per cent. This, he attributed to the better agricultural performance following good monsoon. Mr. Basu said, the shortages of power and road connectivity are the biggest bottlenecks in the industrial development. He said, with the completion of golden quadrilateral and industrial corridor, the growth trajectory would be on higher pedestal.