The government is confident of economic growth rate of 8.75 per cent in the current financial year of 2011-12. After inaugurating an annual conference organised by Central Board of Excise and Customs, CBEC, in New Delhi today, the Union Finance Minister Pranab Mukherjee said despite registering a growth rate of 7.8 per cent in the last quarter, it will be 0.25 per cent more or 0.25 per cent less than 8.75 per cent in current fiscal year. Addressing the Chief Commissioners and Director Generals of Excise and Customs, the Minister said that for the realization of the revenue target of 3 Lakh 92 thousand nine hundred and eight crores rupees in 2011-12, fifteen per cent growth is needed. He said sustained and strategic efforts are require to achieve this target.The Finance Minister said policy reforms process has been undertaken by the government to address gap in the overall economic structure. Mr. Mukherjee said a financial sector Legislative Reforms Commission has been set up to rewrite the financial sector laws to keep pace with best global practices. He said steps are being taken to simplify and place the administrative procedures concerning taxation and trade on electronic interface. He expressed hope that this will set the tone for a newer, vibrant and more efficient economy.