Economy poised to grow by nine percent in the next fiscal. It is expected to grow by 8.6 percent in this financial year. The Economic Survey tabled in Parliament by the Finance Minister Mr. Pranab Mukherjee today says that industrial output grew by 8.6 percent and manufacturing registered 9.1 percent growth. The Survey brings to the fore that exports had an impressive growth of 29.5 percent from April to December and imports increased by 19 percent in the same period. It points out that the trade gap has narrowed to over 82 billion US dollars in the first nine month of the current fiscal. The gross fiscal deficit stands at 4.8 percent which is 1.5 percent less than last fiscal. The spending in social sector programmes has increased by five percent of the GDP over past five years. The rise in GDP in market prices is 9.7 percent and the production of food grains estimated at over 232 million tonne. The Survey says that the inflation is expected to be 1.5 percent higher than what it would be if India was not on growth path. The Survey points out that forex reserves are estimated to be over 297 billion. The Survey says that robust growth and steady fiscal consolidation are the hallmark of the Indian Economy. It makes it clear that fundamentals of Indian Economy are strong and the growth is based with rebound in agriculture and continued momentum in manufacturing and private services. The Survey also says that Savings and Investments are going up and inflation is falling.