This year's projected increase in per capita (in dollar terms) is nearly double the average 13 per cent growth between 2003-04 and 2006-07.
The panel, headed by former RBI governor C Rangarajan, in its economic outlook for 2007-08 also projected inflation to remain within 4 per cent.
The Central government had earlier in the day introduced the bill in the Lok Sabha despite stiff opposition from the National Democratic Alliance.
Congress has hit out at the BJP-led NDA over its decision to oppose the bill on office of profit,
Sonia Gandhi, who was also embroiled in the controversy is seeking re-election today.
Congress workers turned up in large numbers at 10 Janpath residence of party president Sonia Gandhi in New Delhi Friday and extended full support to her, a day after she resigned from Lok Sabha and as chairperson of the National Advisory Council.
Ratan Tata, who heads the biggest industrial conglomerate in India, on Tuesday joined an elite group of global business leaders like Microsoft chief Bill Gates and BP Group CEO Lord Browns
Telecom industry expert Sam Pitroda met Prime Minister Manmohan Singh on Wednesday and discussed a number of issues, including e-governance, education and science and technology.
The advisory was issued as thousands of Indians studying in Chinese medical colleges are currently stuck at home for over two years due to Beijing's COVID visa ban.
Prime Minister Manmohan Singh on Saturday asked the industry to enhance its contribution for creation of infrastructure through increased investment and assured that "holding the price line" was a priority for the government.
The top Republican leadership in the United States has congratulated Narendra Modi on being nominated as the prime ministerial candidate of the opposition Bharatiya Janata Party, and has extended an invitation to address Congressional leaders and Indian Americans via satellite at the Capitol Hill.
Pointing out that inflation rate is a little beyond comfort zone, the Prime Minister's Economic Advisory Council said the current situation is not favourable for a cut in interest rates. The inflation rate stood at 5.11 per cent for the week ended March 1. For the second week in a row that the rate was over 5%. The RBI aims to limit average rate of inflation for the current fiscal at 5 per cent. When the inflation rate is rising, it is always critical to bring down the rates.
Rejecting IMF and World Bank's "unduly" pessimistic projections, Prime Minister's key economic advisory council chairman C Rangarajan on Thursday exuded confidence that the growth would be around 5.5 per cent in the current fiscal.
The Prime Minister's Economic Advisory Council has scaled down its growth projection for the Indian economy for 2007-08 to 8.9 per cent from 9 per cent on account of slow expansion in manufacturing and energy generation. Dr C Rangarajan, head of the group of economists released the review of the economy of 2007-08 and said that the economic growth of India would be hovering around 8.5 per cent during 2008-09.
The net FDI for 2006-07 would be around $9 billion, up from $4.7 billion last year, the Prime Minister's Economic Advisory Council said in its update on the country's balance of payments outlook for this fiscal.
The central government is likely to prescribe a special rate of abatement on the retail prices of drugs for calculation of excise duty.
Speaking about the field that India could enter when it came to commercial application of nano science and technology, Rao suggested that India foray into manufacturing sensors.
"By 2025, world will be a bi-polar society wherein China will be the most influential country and by 2035, India would become the third largest economy, making the world tri-polar," he said.
Indian American physician Dr Sampat Shivangi has been nominated the adviser to the US Secretary of Health and Human Services Michael O Levin, the Bush administration announced on Thursday.
From January 2 to March 5, 451 cases of H3N2 have been reported in the country, according to data shared by the health ministry.
The Prime Minister's Economic Advisory Council has approved Reliance Industries' 4.33 dollars per mBtu price of gas from KG-D6 fields, saying it was in line with industry practices.
Congress president Sonia Gandhi stumped party members by taking the last row in the Lok Sabha on Monday.
The divestment of HPCL and BPCL may be delayed by at least three years because of "existing hurdles", prime minister's economic advisory council committee member and BJP national executive member Jagdish Shetigar said on Thursday.
But the finance ministry has justified the action saying laws can be amended retrospectively through 'validating legislation,' which is legally permissible.
Gujarat and Karnataka have been ranked as the best performers in developing startup ecosystem for budding entrepreneurs, according to the ranking of states and Union territories by the Department for Promotion of Industry and Internal Trade (DPIIT). Among smaller states having population of less than one crore, Meghalaya has been adjudged as the best performer. The rankings are based on the initiatives taken to develop the startup ecosystem for promoting budding entrepreneurs.
The erstwhile divestment commission to be now be replaced by the BRPSE.
MAG was constituted by Department of Electronics and IT in February 2014.
Further hike will depend on the RBI's assessment
The Confederation of Indian Industry and ASEAN on Monday set up two task forces in pharmaceuticals and agriculture and food processing to prepare a strategy document to outline a roadmap for cooperation in these sectors.
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