The Indian economy would grow to USD 1.72 trillion in 2011-12, moving closer towards the USD 2 trillion mark, according to an assessment by the Prime Minister's Economic Advisory Council (PMEAC), according to PTI. The country's gross domestic product (GDP) at the market and current prices was measured at USD 1.31 trillion in 2009-10 and is estimated to be USD 1.52 trillion in the current fiscal, the PMEAC said in its latest economic outlook. Pegging the GDP growth at nine per cent, the economy would reach a level of USD 1.72 trillion in 2011-12, it said. If the nine per cent growth trend is maintained, India would become USD two trillion economy in 2013-14 fiscal. After slowing down to 6.7 per cent in 2008-09 and 7.4 per cent in 2009-10, the Indian economy is projected to expand at 8.5 per cent this fiscal and by nine per cent in 2011-12. According to experts, services and manufacturing sectors will remain the key drivers pushing the coveted growth to USD two trillion mark. "Services sectors particularly transportation and telecom sectors will lead the growth. Rising income levels and aspirations of people will further the industrial output," CRISIL's chief economist D K Joshi said.
