India's economic growth is likely to slow to around 7 percent this year, President Pratibha Patil told lawmakers on Monday. But it remains a healthy growth given current global trends.

Moreover, the government is confident that it will soon steer the country back to the high growth trajectory of 8 percent to 9 percent, she said.

She noticed that the long-term fundamentals of the Indian economy remain robust. High domestic savings and investment rates as well as favorable demographics, and a stable democratic polity underpin growth prospects.

Finance minister Pranab Mukherjee will present the budget on March 16.

RTTNews