After receiving detailed recommendations from business organizations, Finance Minister P. Chidambaram promised to draw up a fresh agenda to step up the manufacturing sector growth rate from the current 9% to12%. Chidambaram disclosed meetings with 4 business organizations where he was told major irritants and bottlenecks so growth rate can be accelerated.

Chidambaram said that the "interesting" suggestions required a wide range of reforms including labor laws, power deficiency, irritants in the mineral and mining policy, self-certification by industry to curb `Inspector Raj,' the setting up of a national fund for acquiring high technology, and the lack of incentives for industrial clusters and higher gross capital formation in infrastructure. However, he also conceded that "This requires massive investment by the public sector'' which need to be discussed further with the Planning.