The country's economic growth is likely to fall to around 8 per cent in 2011-12, from 8.5 per cent in the previous fiscal, Parliament was informed on Tuesday.
"Growth is expected to decelerate ... to around 8 per cent in 2011-12...," Minister of State for Finance Namo Narain Meena said in a written reply to the Rajya Sabha.
He was replying to a question whether the Reserve Bank, in its annual credit policy for 2011-12, pegged the economic growth at 8 per cent this fiscal.
"RBI has stated that the growth momentum remained relatively firm during 2010-11, signs of moderation emerged in the latter half of the year, particularly with respect to capital goods and investment activity," Meena said.
The country's Gross Domestic Product had expanded by 8.5 per cent in 2010-11.
In its pre-Budget survey, the government had projected economic growth to be 9 per cent this fiscal. However, in recent months there has been marked slowdown in industrial activity on account of high interest rates.
Industrial production expanded by 5.9 per cent in April, 5.6 per cent in May and 8.8 per cent in June.
Experts had also said that the 6.6 per cent industrial growth registered last fiscal is unlikely to be matched this year.
Earlier this month, the Prime Minister's Economic Advisory Council had projected growth to be 8.2 per cent in 2011-12.
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