Reforms needed in mining, power sector: FM

By agencies   |   Wednesday, 31 May 2006, 07:00 Hrs
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NEW DELHI: Lower growth in mining and electricity sectors has disappointed Finance Minister P Chidambaram, who asserted more reforms were needed in these two areas to sustain higher economic expansion. Though he appeared satisfied with the 8.4 percent GDP growth in 2005-06, the minister, however, said he was disappointed with the 0.9 percent growth in mining sector against 5.8 percent last year. Besides, the government had expected electricity, gas and water supply to grow at six percent, but the actual growth was 5.3 percent during 2005-06. Without disclosing reforms planned in mining and electricity sectors, he said he would meet the Prime Minister on these issues and respective ministries would present their plans.