New Delhi: The 8.2 percent growth projection for the Indian economy in FY'12 is not "disappointing", in light of the uncertainty in major economies the world-over, Finance Minister Pranab Mukherjee said here on Tuesday.

"In the overall global scenario, when European recovery is fragile and US recovery is uncertain, I don't think that 8.2 percent (projected growth) is disappointing," he told reporters here.

The Prime Minister's Economic Advisory Council (PMEAC) on Monday lowered the country's GDP growth projection for the current fiscal to 8.2 percent from 9 percent earlier, citing the uncertain global outlook, high domestic inflation and subdued industrial performance.

The Finance Minister, however, noted, "There are certain aspects which are also positive," like impressive export growth and a reduction in India's current account deficit.

The robust growth in exports indicates that Indian merchandise has found a diversified global market, he added.

During the April-June quarter, exports grew by 45.7 per cent to USD 79 billion.