International Monetary Fund (IMF) expects the Indian economy to grow by 8 per cent during 2010-11.IMF said in its latest paper issued after consultation with Indian authorities that with India's long-term prospects remaining strong and private sector balance sheets sound, IMF expects growth to be back at potential in the next fiscal even if advance economies grow below trend. The Fund, however, forecasts a moderately lower growth rate for the 2011-12 fiscal at 7.7 percent.For the current fiscal, the fund said the economy would grow by 6.7 per cent, much lower than the 7.2 per cent projected by the Central Statistical Organisation.The major areas of concern, according to IMF, are the rising inflation and high fiscal deficit. According to IMF, the other risks include asset price bubble and the possibility of a sudden stoppage of foreign capital inflows caused by turmoil in global financial markets.In the Economic Survey, finance minister Pranab Mukherjee projected GDP growth of up to 8.75 per cent next fiscal, driven mainly by robust domestic demand and recovery in theglobal economy.