Finance Minister Pranab Mukherjee today said that the growth rate will be around 7.2 percent during the current year. He said due to current uncertainity in global economy, as the problems in euro -zone is still unresolved and volatility in international commodity prices especially fuel, it may be difficult to contain the fiscal deficit at 4.6 percent as targeted during the last budget. He was addressing Pre-Budget consultations meeting with the Heads of Banking and Financial Institutions in New Delhi today. Mr Mukherjee stated that all banks and financial institutions including public or private have a common goal of working towards a healthy economy.

The representatives from various banking and financial institutions discussed the issues relating to fast tracking of project clearances, making transactions more simpler, increasing deposit flow and other issues relating to capital and housing markets.

Our Correspondent reports that the Finance Minister had already held consultations with the representatives from the trade unions, social sector groups and agriculturists besides holding deliberations with the State Finance Ministers. Their views will be taken on board while making the Budget.