In a declaration, country's finance minister Pranab Mukherjee stated that the "immediate job" of the administration is to take the Indian economy back on the 9% growth path.

He said that the main aim of the government is to achieve 9% GDP growth in 2010.

Finmin said, "I will not say we are out of the woods, but signs of recovery are positive."

"The immediate task before us is to quickly revert to the GDP growth path of 9% and then find the means to cross the double-digit growth barrier," the finance minister added.

For the twelve month period ended March 2010, the economic system developed at the rate of 7.4%.

In the existing financial year ending March 2011, the authorities had projected a GDP growth of 8.5%.

Mr. Pranab was lecturing at the inaugural ceremony of 'Swatantra', the biggest investor education and financial inclusion plan in India, conceptualized by UTI MF.

The minister also said that the financial system had to confront various problems including higher commodity and energy costs, financial slump and a drought during the last 12-18 month period.

Mukherjee added that the administration aspired India to go back on the positive growth track and formulate a situation when the country crossed the obstacle to a double-digit growth.