We will come out of current economic situation and bounce back to 7-8 pc growth in 2-3 years, Prime Minister Manmohan Singh told the Parliament on Friday.

The Union Budget presented by Finance Minister P Chidambaram too was growth-oriented.

India Inc gave a thumbs up to the United Progressive Alliance-II's last Union Budget before the general elections next year and said that Chidambaram presented a 'bold' and 'growth-oriented' Budget.

The major focus of this year's Economic Survey too was on pushing economic growth, which has been projected by the Central Statistical Organisation at 5 per cent for this fiscal, sharply lower than the original estimate of 7.6 per cent (+/- 0.25 per cent).