The Planning Commission on Thursday described the International Monetary Fund's growth projection of 8.8 per cent for India as optimistic and said the panel would stick to its outlook.
"We have felt that we would do eight and a half ... they (IMF) are projecting somewhat higher figure (of GDP growth). We would continue with our projection," Planning Commission Deputy Chairman Montek Singh Ahluwalia told reporters here.
IMF in its World Economic Outlook, released on Wednesday, said the Indian economy would grow by 8.8 per cent during 2010 and 8.5 per cent a year after that.
Its optimism was based on strong domestic demand, rising business confidence and favourable financing conditions. The Planning Commission in its Mid-Term Appraisal in March projected a growth rate of 8.5 per cent for 2010-11 and 9 per cent in 2011-12.
