After a slump in growth in the first two quarters of the current financial year, Finance Minister Pranab Mukherjee Friday lowered the economic growth projection to around 7.5 percent for 2011-12 from his budgetary estimate of 9 percent

"I am modest, I am not saying that I will be reaching the figure which I projected earlier during the budget -- 9 percent plus minus 0.25 percent. I am reducing it at around 7.5 percent," Mukherjee said at the Hindustan Times Leadership Summit here.