Finance Minister Pranab Mukherjee said, the rice production this year could be 16 million tonnes below the 2008-09 level due to the twin-impact of drought and floods. He however, exuded confidence that there would be no supply-side shortage for the food grain. The Finance minister also endorsed the Prime Minister's Economic Advisory Council's growth projection of 6.75 per cent this fiscal. He pointed out that the country could have achieved higher growth but for the adverse impact of both drought and later floods that affected the agricultural prospects and particularly the khariff crop. India produced record 99.15 million tonnes of rice in the 2008-09 seasons.