Civil Aviation Minister Praful Patel on Tuesday lashed out at the Planning Commission, holding it responsible for the delay in the modernisation of Kolkata and Chennai airports.
The Indian economy is expected to grow at least 7 per cent in the next financial year on the back of the two stimulus packages given by the government, but in the immediate-term there would be some pain and a rise in unemployment levels, Deputy Chairman of the Planning Commission, Montek Singh Ahluwalia said.
The Planning Commission does not foresee any significant disruption of state finances on account of increase in salaries of state government employees.
With the five-year term of Reserve Bank of India Governor Y V Reddy coming to an end soon, names of his deputy Rakesh Mohan and Planning Commission Deputy Chairman Montek Singh Ahluwalia are emerging as potential successors, a media report said in London.
Planning Commission Deputy Chairman Montek Singh Ahluwalia today said the fiscal stimulus package unveiled by the government was "adequate" and the next package should aim at creating productive investments in infrastructure.
Higher economic growth can be sustained only in an atmosphere of reasonable price stability
Planning Commission Deputy Chairman Montek Singh Ahluwalia on Wednesday called for sweeping reforms in education and health to make the surging economic growth truly inclusive.
Population growth rate would be 1.5 per cent during the period 2007-12. "The next 10 years, India will register four major changes. The economic growth will accelerate, the technology will also grow and domestic industry will experience major liberalisation," Ahluwalia said after inaugurating the 22nd Indian Engineering Congress in Udaipur.
Planning Commission echoed Prime Minister Manmohan Singh's concern that corporate salaries were excessive but said there was no proposed move to impose any cap on their salaries.
He rejected the recommendation of the report that "major emitters" in developing countries should aim at an emission trajectory that peaks in 2020 and leads to a 20 per cent cut by 2050.
This is the message of the latest Human Development report, 2007-2008, which was released on Tuesday by Planning Commission Deputy Chairman Montek Singh Ahluwalia in New Delhi. The global release was in Brazil.
This was announced at the Indo-US Economic Cooperation conference held on Friday.
Batting for the Reserve Bank of India and the finance ministry, the Planning Commission on Friday said concessions to special economic zones should be at par with those provided to infrastructure projects.\n\n
"The theme of tomorrow's meeting is 'Economic Policy Reform, Road Ahead'. The prime minister will make opening remarks. There are 15 invitees who will make their presentations before the prime minister," a senior government official said.
Planning Commission Deputy Chairman Montek Singh Ahluwalia warned that any extraordinary steps to contain inflation may prove counter-productive.
The Planning Commission said on Tuesday the current upswing in the economy, which is showing signs of overheating, was unlikely to continue in the long term, while attributing pressure on prices to high growth rate.
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.
In an interview to CFO Asia, a publication of The Economist Group, Montek Singh Ahluwalia said the general public was opposed to privatisation of state-owned enterprises although they feel that public sector was inefficient and corrupt.
The Planning Commission on Tuesday projected a 8.5-9 per cent economic growth for this fiscal despite a slowdown in industrial growth in July.
India has said it would exercise caution in embracing fuller rupee float since the gradual approach towards liberalising the foreign exchange regime has paid in the past.
The Planning Commission may suggest an increase in education fees for higher education to Finance Minister P Chidambaram this year. Do you think this hike is justified?
The Planning Commission on Tuesday warned that sector-specific regulators could become 'tension points' between them and the ministries and said there should be a common regulator for transport and energy sectors.
Congress president Sonia Gandhi and Prime Minister Manmohan Singh will not be able to attend the annual World Economic Forum meeting to be held at Davos from January 24-28 next year.
Chief Minister Vasundhara Raje claimed the deputy chairperson of planning commission Montek Singh Ahluwalia was very pleased with the performance of the state.
A joint statement issued at the end of an India-Japan energy dialogue said both the countries would explore ways and means to further cooperation in the field of new and renewable energy sources.
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
The government will come out with details of a new scheme for farm sector projects by states in the next 4-6 weeks to implement the Rs 25,000 crore (Rs 250 billion) plan announced by Prime Minister Manmohan Singh last month.
"The world economic slowdown will not affect the medium term growth prospects," Planning Commission Deputy Chairman Montek Singh Ahluwalia said, while addressing the 'TIE Entrepreneurial Summit 2007' in New Delhi on Tuesday. The economy was likely to clock a growth rate of 8.5 to 9 per cent during the current financial year, he said, adding that the gross domestic product growth rate was expected to be 9 per cent during the next three years.
Planning Commission Deputy Chairman Montek Singh Ahluwalia on Thursday said that he favoured a hike in the fuel prices to offset the increase in international crude prices. "The only viable strategy is to pass on the subsidy (oil) burden to the consumers, while providing targeted subsidy to the needy. And if we do not do it, investments in social sectors will be affected," he said.
Planning Commission Deputy Chairman Montek Singh Ahluwalia said the government can consider some more measures to contain inflation if prices do not soften going ahead. Inflation touched a 42-month high of 7.57 per cent for the week ended April 19 as compared to 7.33 per cent in the previous week. When asked whether futures trading of food grains be banned to bring down prices, he replied that the expert committee has said that futures trading does not increase inflation.
The amount involved is just 3.6 per cent of our forex reserves and the gains to be made are huge -- not to try the idea would be foolhardy.
Economic liberalisation has not resulted in rapid reduction in poverty, as was expected, Planning Commission Deputy Chairman Montek Singh Ahluwalia said.
His interaction was webcast live on Twitter.
The Planning Commission in its draft approach paper to the 11th five year plan would stress on doubling agricultural growth and bridging regional imablances among other things.
The contract is characterised by a minimum revenue guarantee and a cap on the firm's revenues.
India is fielding a 100-member team, led by Commerce Minister Kamal Nath and Planning Commission Deputy Chairman Montek Singh Ahluwalia. The duo will address a number of India-centric sessions on economic reforms.
Union Minister of Commerce and Industries Kamal Nath, would lead a high powered team to Davos in Switzerland sources in the government of India said in an informal chat with rediff.com.
Inclusiveness is not just about poverty reduction, it is much more than that
Social sectors like health and education will get a leg up in the Eleventh Plan (2007-12), even as some other sectors may see a reduction in fund allocation.
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