India is expected to grow at a rate of 8.25 per cent to 8.75 per cent for the coming fiscal, said the Economic Survey.

Released a day before the Union Budget, the Finance Ministry's report on the economy said that the growth would ultimately rise to 9 per cent in 2012. This is higher than the current projection of 7.2 per cent to 7.5 per cent, given during this year. However, the survey also said that even though the economy will grow, the prices too will be rising during the coming fiscal. This would make inflation an issue of concern in the coming year as well.

Food inflation is going to be the most troubling issue, the report said. It has also advised the government to make a calibrated exit from the fiscal stimulus. The survey also called for fiscal consolidation, in order to control the burgeoning fiscal deficit.

The same recommendation was given by the 13th Finance Commission, which has said that India must control its debt. At this rate, the total debt is expected to go up to 68 per cent of GDP.