The country's economic growth hit a decade low of 5 per cent in the last fiscal on account of poor performance in the farm, manufacturing and mining sectors.
The Planning Commission said on Tuesday that emphasis on inclusiveness by the government should not be misconstrued as dilution of the overall growth agenda and the benefits should percolate to all strata of the society.
Montek also said he did not consider the fall of about two per cent or so in Asian markets, including India this morning, as severe.
Major economic policy reforms in India that require legislative changes is most likely to slip away until the next general elections, Deputy Chairman of the Planning Commission Montek Singh Ahluwalia said on Thursday.
At the annual Pravasi Bharatiya Divas, organised by the government ostensibly to celebrate the country's connection with the 27-million-strong Indian diaspora living in 150 countries, Mr Ahluwalia said last Sunday that India was reaching out to NRIs not for their money, but because it valued the long, socio-cultural footprint all Indians living in India and abroad shared.
Blaming earlier policies for "discriminating" against labour intensive sectors and leading to "significant deceleration" in employment, Planning Commission Deputy Chairman Montek Singh Ahluwalia on Friday
Government and the Planning Commission had earlier projected a growth rate of 9 per cent during 2011-12, up from 8.6 per cent in the previous fiscal.
Pursuing good economic practices is not always easy politically, but anyone who thinks it is impossible may be 'damming the country', Planning Commission Deputy Montek Singh Ahluwalia said on Thursday.
He is, however, hopeful that impact of recent reforms initiatives will manifest in the data for the second half of the fiscal.
The rupee will soon join the elite currencies like the US dollar, the euro, British pound and Japanese yen in having a distinct identity.
Planning Commission Deputy Chairman Montek Singh Ahluwalia on Saturday strongly supported the view that petroleum prices in the country should "align with the global price."
Favouring labour reforms but without 'hire-and-fire' system, Planning Commission Deputy Chairman Montek Singh Ahluwalia on Friday said rigidities in labour laws were affecting the domestic job market.
He feels much of the problems arise at the level of state governments rather at the central government level.
Hailing Reserve Bank's decision to cut key rates, Plan panel on Tuesday said it would boost investments and hoped the measures will have significant effect on long term borrowing rates.
According to official data released on Friday, industrial growth has slipped to 0.6 per cent in February this year due to contraction in power generation and mining output and poor performance of manufacturing sector.
According to Ahluwalia, if everything goes well on the economic growth front for the next three months, then one can say that the economy will be back on higher growth trajectory in the long run.
RBI has chosen to keep all key rates and ratios unchanged in its policy review unveiled earlier in the day.
The document which was tabled in Parliament by Finance Minister P Chidambaram has projected the growth rate for next fiscal at 6.1-6.7 per cent.
The Reserve Bank of India announced measures late on Monday to curb the rupee's decline by tightening liquidity.
Indian economy grew at a nine-year low rate of 5.3 per cent in January-March quarter in the last financial year and also in the last fiscal at 6.5 per cent.
With a view to find a long term alternative to scarce petroleum products, Planning Commission Deputy Chairman Montek Singh Ahluwalia
Montek Singh Ahluwalia is likely to remain deputy chairman of the planning commission, which will be constituted shortly.
The debate over remuneration of CEOs on Monday grew louder with Planning Commission deputy chairman Montek Singh Ahluwalia stating that company heads should not be paid 'indecent salaries'.
Rodrigo de Rato, Managing Director of the International Monetary Fund, on Monday congratulated Montek Singh Ahluwalia on his appointment as Deputy Chairman of India's Planning Commission.
Eminent economist Montek Singh Ahluwalia was on Wednesday appointed deputy chairman of the Planning Commission.
Planning Commission Deputy Chairman Montek Singh Ahluwalia on Tuesday said that poor monsoon will adversely impact farm production and trim economic growth.
He said while bringing in investments, it is also necessary to manage the high current account deficit.
Home Minister P Chidambaram and Planning Commission Deputy Chairman Montek Singh Ahluwalia rejected reports that they were locked in a turf war over the ambitious UIDAI project to give every Indian resident a unique ID number Aadhar.
"The word populist has negative overtones, but I am sure (the) finance minister will present a popular Budget. However, we should maintain the mystery of the Budget and you have to wait and see what comes out," Planning Commission Deputy Chairman Montek Singh Alhuwalia said.
Differing with International Monetary Fund's growth forecast of 4.9 per cent for India during 2012, Planning Commission Deputy Chairman Montek Singh Ahluwalia said it has a statistical problem.
Planning Commission Deputy Chairman Montek Singh Ahluwalia, who has just resigned, on Monday remained non-committal on his prospects of becoming finance minister while describing reports on this as "speculation".
The meetings with Singh and Ahluwalia have taken place just two days before the announcement of the results of the general elections for the 15th Lok Sabha. Besides Karnik, the other nominees on the Satyam board are HDFC chairman Deepak Parekh, former ICAI chairman T M Manoharan, CII chief mentor Tarun Das, LIC executive S B Mainak and former presiding officer of Securities and Appellate Tribunal C Achuthan.
Reserve Bank of India, in consultation with the government, has raised the FII investment limit in government securities by $5 billion to $20 billion.
Montek Singh Ahluwalia is the new deputy chairman of the Planning Commission.
There is no doubt that economic growth has picked up. It's also true that inflation has edged up. We had said at the beginning that sometime in the course of the year we would begin to slowly wind it down and what has happened is on course for that decision but exactly what, it's too early to say, says Montek Singh Ahluwalia.
In view of declining inflation and recessionary conditions, the Planning Commission expects industry to cut prices in the normal course to battle economic slowdown.
His interaction was webcast live on Twitter.
International Monetary Fund managing director Dominique Strauss-Kahn on Thursday said he favoured new heads of the World Bank and the Fund to be from countries other than Europe and the United States.
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