India's economic growth is seen slowing to about 7 percent in the current fiscal year, but the government is confident of steering the economy back to a high growth trajectory of 8-9 percent soon, President Pratibha Devisingh Patil said on Monday.

The long-term fundamentals of the Indian economy remain robust, Patil told lawmakers, adding the government was targeting to achieve a 9 percent annual growth in the five-year plan period ending on March 31, 2017.

Finance Minister Pranab Mukherjee, who will present the federal budget on Friday, is expected to set a target of 7.5 percent to 8 percent economic growth for the 2012/13 fiscal year beginning on April 1.

(Reporting by Manoj Kumar; editing by Malini Menon)