The government should act quickly to raise diesel rates to bring them in line with global prices in order to reduce its subsidy bill, Prime Minister's Economic Advisory Council Chairman C Ranagarajan has said.
The food ministry has supported the suggestion of Rangarajan panel to allow export of 2 million tons of wheat from government stocks immediately to ease pressure on storages, the Rajya Sabha was informed on Monday.
Rangarajan says there was no need to change the inflation comfort level from four-five per cent.
It forecast a growth of 9 per cent for 2011-12.
D Subbarao reiterated concerns over rising gold imports and its pressure on current account deficit.
Chief Minister MK Stalin has shown that he is cut from a different cloth when it comes to embracing what is current, modern and absolutely necessary. Thus, even while retaining the spirit and content of the pan-Tamil, Dravidian socio-political and socio-economic ideology to the 't', his government has also acknowledged the need to accepting scientifically-proven facts in operational matters, says N Sathiya Moorthy.
FDI in retail would have a limited impact on small retailers, Chairman of PM's Economic Advisory Council C Rangarajan said.
The Indian economy grew at a faster pace of over 8 per cent in two consecutive fiscal before falling to a nine year low of 6.5 per cent in 2011-12.
'The terminal year could yield nine per cent.'
Social activists, led by National Advisory Council member Aruna Roy, on Saturday slammed Prime Minister Manmohan Singh's observations on the Right To Information Act, alleging it signals support from the "highest quarters" to those keen on diluting the law. The "concerns expressed by the PM will support and pass a signal to those who want to dilute and weaken the Act that they have support from the highest quarters," a statement signed by several RTI activists said.
Wholesale Price Index for the month ended March moderated to 3-year low of 5.96 per cent against Reserve Bank's projection of 6.8 per cent.
Why phasing out the fertiliser subsidy will affect small farmers.
A recent national consultation of Christian leaders has opposed the Communal Violence Bill for being inadequate, reports Yogi Sikand
The Land Acquisition Bill, which was being pushed by Sonia Gandhi-led National Advisory Council, is set for further delay with the controversial matter being referred to a Group of Ministers because of the opposition by a number of Cabinet ministers.
NAC Chairperson Sonia Gandhi has written to Prime Minister Manmohan Singh suggesting that the proposed national policy for domestic workers should ensure a daily minimum wage without sex discrimination, weekly offs and paid annual leave.
Technology can play an important role in almost every sector of the economy in enhancing productivity and production.
Ignoring the rate cut demand of India Inc, RBI in its first quarter monetary policy review kept the short-term lending (repo) rate, at which banks borrow from RBI, unchanged at 8 per cent.
Union HRD minsiter Kapil Sibal now wants 'one nation, one test' format for admissions to all disciplines.
Indian American lawyer Preeta Bansal, who was an adviser to Barack Obama's presidential campaign before serving in the administration, has been appointed to a key administration post. Preeta Bansal has been appointed Member of the Advisory Council of the Administrative Conference of the United States, the White House said in a statement, which also announced the appointment of Boris Bershteyn to the same position.
With the threat of a failed monsoon and an impending drought, the need for public works and for greater numbers of workers will arise in many states, says Aruna Roy
He said the government would not go in for providing stimulus across the board and that only specific sectors would be considered for the measure.
High gold imports had contributed to high CAD which stood at 5.4 per cent in the second half of 2012-13 and was creating pressure on the rupee.
No government department seems to have any information about the tours and travels undertaken by the United Progressive Alliance Chairperson Sonia Gandhi as a Right To Information application kept moving to different ministries without any substantial response.
Although the government had pegged fiscal deficit for the current financial year at 5.1 per cent of the GDP in the budget, it has revised the target to 5.3 per cent in view of subdued revenue collection and rising fuel and food subsidy bills.
Sources in the BJP said the expansion of the cabinet was unlikely before the session though the allocation of portfolios to the NCP ministers might happen in the coming days.
Although the government had pegged fiscal deficit for the current financial year at 5.1 per cent of the GDP in the budget, it has revised the target to 5.3 per cent in view of subdued revenue collection and rising fuel and food subsidy bills.
PM's economic advisors have suggested a hike in petrol and diesel prices to tackle the global crude prices.
The IIP growth has been revised downwards to 1.14 per cent for January, from the provisional estimates of 6.8 per cent, according to the official data released on Wednesday.
He feels that RBI could be waiting for a period or an opportune movement when there could be sustained reduction.
The overall inflation in March fell to 5.96 per cent.
Are short-term compulsions increasing long-term instability?
Gems & jewellery exports seen rising, too, as demand remains strong in all markets except Europe.
Gold prices had touched the all-time high of Rs 32,975 per ten gms on November 27, 2012.
Food Min says decision on Rangarajan panel's report in a time bound manner.
He was speaking to reporters on the sidelines of a conference organised by the Madras School of Economics.
NGOs have acquired a certain critical mass and are increasingly becoming powerful voices in public discourse.
India's trade deficit has fallen to 10-month low of $14.9 billion in February on improving exports and a sharp drop in imports.
While eyeing inorganic growth, the company is considering setting up skilling centres in Africa, Bangladesh and Pakistan.
The accounting system of the central and state governments may change considerably, with a high-level committee suggesting sweeping changes in how expenditure is classified in Budget documents.
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