New Delhi: The country's Chief Statistician T C A Anant on Friday said high global crude prices could impact India's economic growth in 2011-12 and projected that the GDP is likely to grow by around 8.5 per cent during the fiscal.

He also said that headline inflation will fall below the 8 per cent mark by August-September if the country receives a normal monsoon.

"Oil situation is a matter of worry and it is likely that oil prices internationally will harden significantly... Crude is also a major input. So it may be a factor which will dampen some of our growth expectations," Anant told reporters here on the sidelines of a FICCI event.

Asked how much the country's economic growth could be in 2011-12, he said: "The expectation now is that probably it will be now 8.5 per cent. This is subject to the assumption on how effectively do we manage the oil price situation."

In its pre-Budget economic survey, the government had projected that the country's GDP would grow by 9 per cent this fiscal.

However, the Reserve Bank, in its monetary policy for 2011-12 released earlier this month, pegged GDP growth at 8 per cent and said inflationary pressure would affect growth.

Finance Minister Pranab Mukherjee and other senior figures in the government also recently said that growth would be below 9 per cent.

Anant said the current political turmoil in parts of the Middle East and North Africa (MENA), along with the recent tsunami and earthquake and subsequent radiation leakage that hit Japan, could affect oil prices.

Global crude prices are currently above USD 100 per barrel on account of events in the MENA region, particularly the civil war in Libya, a major oil exporter and OPEC member.

Regarding inflation, Anant said the rate of price rise of food items is showing a declining trend.

(Agencies)