Wednesday, March 1 2006 16:12 Hrs (IST) - World Time -

New Delhi: In an unusual offer, Finance Minister P Chidambaram today(Mar1,2006) invited trade and industry leaders to meet him on May one with a list of potential obstacles to 12 per cent growth in manufacturing, which he promised to address.

"Let me make an open offer. Take time and meet me on May one. All chambers can make a list of what stands between you and 12 per cent growth and we shall address them. Please send your list 15 days ahead for us to study," Chidambaram told captains of Indian Industry in his post budget interaction.

A 10 per cent economic growth would require industry and services to grow at a double digit.

"But Unless agriculture grows at 4 per cent, whatever combination and permutation we may try, we can not attain 10 per cent growth," he said.

"The budget has gone an extra-mile to help the farm sector to deal with credit and infrastructure issues," he said.

On the demand for putting in place a single regulatory mechanism for energy and infrastructure, he said this issue would be addressed shortly.

He did not subscribe to the view that the Disinvestment programme has been derailed. CCEA has already cleared shedding of a small portion of Government equity in Power Finance Corporation and National Mineral Development Corporation.

He expected off-loading of small portion in 6-8 non navaratna profit making PSUs to mop up Rs 6000-7000 crore.

He said Government would approach World Bank in April with Rs 4,400 crore project to restore 20,000 water bodies for irrigating 14 lakh hectares.