Mining sector growth to slow down

Jul 26, 2010 |

Correspondent

India’s mining sector is likely to see a slowdown in growth to 8 per cent this fiscal, even as the overall economy is poised for higher growth, the Prime Minister’s Economic Advisory Council (PMEAC) has said. The lower forecast comes in the backdrop of an ongoing debate on the virtues of a proposed legislation — the Mines and Minerals Development and Regulation Act, 2010 —which aims to make mining allocation expeditious and transparent. “The council expects that there will be an easing in the growth rate in 2010-11 and we have set this estimate at 8 per cent, both for output as well as the GDP in this sector,” the PMEAC said in its Economic Outlook.

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