Economic fundamentals strong, says Pranab; GDP to grow by 8.5%.

sns & agenciesNEW DELHI, 2 FEB: Asserting that economic fundamentals are strong, finance minister Mr Pranab Mukherjee today said the government would take care of the impact of rising global crude oil prices, which are hovering around two-year high due to crisis in Egypt and other Arab countries. Attributing the recent slide in stock markets to continued sell-offs by foreign institutional investors, he said that the economy during 2010-11 would record a growth of 8.5 per cent, up from eight per cent a year ago. Mr Mukherjee's remarks came at a time when crude oil prices have jumped to a 28-month high of $102 a barrel following deepening of political crisis in Egypt and fears of the …