With industrial production contracting by 0.4 per cent in October, for the first time in 15 years, and the exports declining by over 12 per cent during the month, the government came out with a stimulus package on December 7 to spur growth and help the industry combat the impact of global financial meltdown. As part of the stimulus package, the government cut excise duty by 4 per cent across the board, except on petroleum products.
They are of the view that calling the new institutes "IITs" would dilute the brand image of the existing premier institutes, which figure among the world's 100 best technology universities and are compared with the likes of MIT, California University and Berkeley. The seven IITs are located in Kharagpur, Mumbai, Chennai, Kanpur, Delhi, Guwahati and Roorkee.
The meeting is likely to focus on removing impediments which are hampering implementation of the announced projects and policies which have been on the drawing board for long, official sources said. The social sector agenda of the prime minister includes pushing the Aam Admi Bima Yojana and Old Age Pension for the labour class, besides revamping Integrated Child Development Scheme and strengthening the public distribution system.
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.
Montek Singh Ahluwalia appealed to the Indian Diaspora at the PBD gathering to support health care ventures of the Indian government, for people below the poverty line.
Private partners like GMR and GVR, humiliated from time to time, have good reason to shrug their shoulders and argue that matters are outside their control.
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.
History shows that confidence is at its highest just before a fundamental change occurs.
All genuine victims of 1984 anti-Sikh riots, whose claims were rejected by the authorities, will receive compensation of Rs two lakh each within a month, a senior Punjab government official said on Monday. Surjit Singh, president of the 1984 Danga Peerit Welfare Association, has accused the Ludhiana district administration of wilfully rejecting deserving claims for compensation on frivolous grounds.
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The interest of the poor can be protected by providing targeted subsidy, Planning Commission's Deputy Chairman Montek Singh Ahluwalia said, adding that increased energy cost would have to be shared by the consumers as the burden is currently being largely borne by public sector oil companies.
The Energy Co-ordination Committee, headed by Prime Minister Manmohan Singh, would meet on Tuesday with gas pricing, gas sourcing and gas allocation as the main topics on the agenda, an official source said.
The hits and misses of the week.
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.
11 BJP members in the Joint Committee of Parliament on land bill moved amendments seeking to bring back the social impact assessment and consent clause.
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.
The hits and misses of the week.
The government is formulating a standard concession agreement for roads, ports and airports, expected to be ready by later this year.
The Planning Commission does not foresee any significant disruption of state finances on account of increase in salaries of state government employees.
On the first day of winter session, Prime Minister Narendra Modi reached out to the Opposition.
The BJP's Madhya Pradesh unit prefers the CM over the PM-designate.
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.
They were arrested from the Vaishali Expres, which was bound for Gorakhpur.
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.
Reader Lilly Ahluwalia sent us this picture from Bahrain.
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.
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.
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.
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Chief Minister Vasundhara Raje claimed the deputy chairperson of planning commission Montek Singh Ahluwalia was very pleased with the performance of the state.
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.
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
Hansal Mehta's son Jai will make his directorial debut with this movie.
Hurling petrol bombs and stones, Gorkhaland supporters on Thursday fought pitched battles with police, who broke up protests, bursting teargas shells and baton-charging violent crowds, plunging Darjeeling hills into deeper turmoil.
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.
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.
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