Holding their first comprehensive Strategic Economic Dialogue (SED) in Beijing on Monday, India and China have reached an understanding to deepen bilateral investment cooperation, further open up markets to each other and improve the investment environment.
RBI has chosen to keep all key rates and ratios unchanged in its policy review unveiled earlier in the day.
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.
On Monday, Reserve Bank hiked the lending rates to banks by 2 per cent to 10.25 per cent.
According to latest Central Statistical Organisation's estimates, the economy will grow at a rate of 5 per cent in the current fiscal -- the lowest in over a decade.
Says govt's focus is to re-assure foreign investors that India is wide open for business.
The government, which had set a reserve price of Rs 14,000 crore for pan-India spectrum broadly drawing from the basis used by Comptroller and Auditor General in calculating the loss in the previous sale in 2008, managed a meagre Rs 9,407.64 crore (Rs 94.07 billion) in the auction that lasted barely two days.
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.
During the fourth quarter of last fiscal, the economy had grown at a nine-year low rate of 5.3 per cent. During the entire fiscal of 2011-12, the economy grew by 6.5 per cent.
To offset the impact of high import costs, the Planning Commission had said that Coal India Ltd should adopt a pooling formula on prices by combining rates of imported and domestic coal.
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.
Ahluwalia's comment comes at a time when the government is facing flak over its decision to open up the multi-brand retail sector to foreign investment.
Showing concerns over hardening inflation, the Reserve Bank today left the key interest rate unchanged but reduced cash reserve ratio by 0.25 per cent to inject Rs 17,500 crore (Rs 175 billion) liquidity into the financial system.
Planning Commission on Monday said India will not be able to achieve USD 1 trillion target for investment in the infrastructure sector during the 12th Plan (2012-17) in view of lower economic growth prospects.
Attacking the government over the issue of price rise, the Bharatiya Janata Party said on Wednesday if the United Progressive Alliance dispensation was sincere in addressing the "burning issue" they should agree on a discussion in Parliament under a provision that entails voting.
Interview with Montek Singh Ahluwalia, Deputy Chairman, Planning Commission.
Between 2004-05 and 2011-12, on an average, poverty declined by two percentage points a year say experts who worked on the data.
The economy will turn the corner in the next six months as the deceleration of the past several quarters has been arrested, Planning Commission Deputy Chairman Montek Singh Ahluwalia said on Monday.
The 12th Plan document describes three average annual growth scenarios - 8%, 6-6.5% and 5-5.5 per cent.
Planning Commission Deputy Chairman Montek Singh Ahluwalia on Monday pegged India's growth this financial year at 6.5-7 per cent. He added the country had taken various steps to boost investment, the results of which would be seen in six months.
Terming HSBC's projection at 5.2 per cent for the current fiscal as incorrect, Ahluwalia said the second half is likely to be better than the first half's.
The Reserve Bank of India announced measures late on Monday to curb the rupee's decline by tightening liquidity.
Some reactions to RBI's monetary policy announced on Monday.
The government is doing a lot to push growth but the impact of its efforts will be felt in the second half of the fiscal when the expansion rate will show some improvement, Planning Commission Deputy Chairman Montek Singh Ahluwalia said.
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.
Under Railways, the two sides agreed to pursue specific collaboration arrangements in heavy haul, station redevelopment and raising speed of existing trains in India.
Terming the 5.5 per cent GDP growth as "good news", Planning Commission Deputy Chairman Montek Singh Ahluwalia today expressed confidence that economy would rebound in subsequent quarters.
Raise diesel prices or else face a situation similar to the recent grid failure which led to complete blackout across 20 states for hours, Planning Commission Deputy Chairman Montek Singh Ahluwalia said on Friday.
The Dravida Munnetra Kazhagam is upset with the prime minister's office for not including DMK's M K Alagiri in the Empowered Group of Ministers on drought.
The presidential election has really come as a boon to the four-month-old Akhilesh Yadav government in Uttar Pradesh, which received a largesse of nearly Rs 80,000 crore from the Centre on Wednesday.
He said while bringing in investments, it is also necessary to manage the high current account deficit.
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.
Plan panel Deputy Chairman Montek Singh Ahluwalia welcomed the initiative to set up a Rail Tariff Regulatory Authority for rationalising fare and freight rates, in the Railway budget.
The original reforms trio of 1991, which showed the way for the opening up of the Indian economy, is now back with a bang. At that time Prime Minister Manmohan Singh was Narasimha Rao's finance minister, Planning Commission Deputy Chairman Montek Singh Ahluwalia was his finance secretary and Rangarajan was the deputy governor of the Reserve Bank of India. They set the ball rolling and became the "reform priests", a journey which has come full circle today.
You cannot have a corporate tax and then say spend another two per cent.
Reserve Bank of India, in consultation with the government, has raised the FII investment limit in government securities by $5 billion to $20 billion.
Shortly before the commencement of the Sixth G20 Summit in Cannes, France, leaders of the emerging, but powerful, economies -- Brazil, Russia, India and China -- met with the intention of designing a joint strategy on how to tackle the Eurozone debt tsunami that could overrun the developing nations causing havoc.
The country's economic growth rate slipped to 5.3 per cent in the fourth quarter of 2011-12, lowest in nearly 9 years due to poor performance of the manufacturing and farm sectors.
Addressing an international meet on key inputs for accelerated development of Indian power sector at New Delhi on Tuesday Montek Singh Ahluwalia, Deputy Chairman of Planning Commission said that India's growth projection could be trimmed due to a poor monsoon.
India's fiscal deficit is expected to be 5.6 per cent of gross domestic product this fiscal as against the budget estimates of 4.6 per cent of GDP.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances