Prime Minister Manmohan Singh sought an end to the cycle of violence in Kashmir while addressing an all-party meet in New Delhi on Tuesday."The key to the problem in Kashmir is a political solution that addresses the alienation and emotional needs of the people," said the PM. The prime minister proposed the setting up of an expert group headed by Dr C Rangarajan with N R Naryanmurthy, Tarun Das and others to formulate a jobs plan for the state.
The Food Security Act as proposed by the UPA government assures rice/wheat at Rs 3 a kg to BPL families as a matter of legal right.
To rein in prices, the RBI could tweak in policy rates to either suck out money supply or make borrowings costlier.
Asked whether the Budget should start the process of exist, Rangarajan told reporters in New Delhi, "What is required, is a roadmap towards normalisation".
Stating that counter-cyclical measures to combat the impact of the global financial meltdown were important, Subbarao said the government borrowings had gone up 'rapidly and abruptly' hindering transmission of monetary measures to bring about lowering of interest rates.
With the developed world seeing a fragile recovery from the recession, projected to be a modest 1-2 per cent in the second half of 2009-10, a further financial crisis was not completely ruled out, said C Rangarajan, chairman of the Economic Advisory Council. He said the slow recovery of the developed countries had a negative impact on external demand for both manufactured goods and services from India.
It forecast a growth of 9 per cent for 2011-12.
The Prime Minister's Economic Advisory Council on Friday said the economy will grow by 8.5 per cent, up from a projected 8.2 per cent, and inflation will come down from double digits to 6.5 per cent by the end of 2010-11.
President Pratibha Patil has conferred police medals on sixteen officers of the country's premier investigative agency, the Central Bureau of Investigation
The room for political manoeuvre to raise petroleum prices is the highest at this point in time, says Business Standard.
The Supreme Court on Friday granted six weeks time to Mukesh Ambani's Reliance Industries Ltd (RIL) to respond to the final CAG report which found alleged irregularities including in payments made to the contractors on drilling of D6 wells at the Krishna-Godavari basin.
The former Governor of RBI said India would see 'definite signs of recovery' in the second half of 2009-10. On growth forecast, he said this fiscal will see a rate of 6 and 6.5 per cent, but it will be higher next fiscal.
He added every dollar rise in the gas price will result in Rs 4,000 crore of revenue and Rs 2,300 crore in profit after tax.
The Prime Minister's Economic Advisory Council (PMEAC) expects the economy to grow by over 7.2 per cent during the current fiscal and exceed 8 per cent in 2010-11, thanks to increased economic activity.
Last month, the government approved the proposal of doubling gas price from RIL's KG basin from $4.2 mmbtu to $8.4 mmbtu from April 1, 2014.
The country's new home minister, Palaniappan Chidambaram, today said he prefers a Congressman as his successor in the finance ministry, setting off speculation about the implication of his statement.
The Prime Minister's economic panel on Tuesday said it could revise upward the economic growth forecast to 7 per cent from 6.5 per cent for the current fiscal on the back of robust economic growth in the second quarter.
The finance ministry's tenancy rights to the RBI governorship distort policy and regulation.
On an average, PMEAC said economic growth could be around 6.5 per cent.
The Prime Minister's economic panel on Wednesday said the government needs to draw a programme to rein in the fiscal deficit of over six per cent which is not sustainable.
The Reserve Bank of India has forecast the economy to grow by 6 per cent with an upward bias.
Infosys to open first overseas campus in China
The luncheon at his residence was attended by Planning Commission Deputy Chairman Montek Ahluwalia, Chairman of PM's Economic Advisory Council C Rangarajan, former RBI Governor Bimal Jalan, Foreign Secretary Shiv Shanker Menon and officials of the Prime Minister's Office.
Economist and former Reserve Bank Governor C Rangarajan on Monday said that the economy will recover in the second half of 2009 and there would be distinct improvement in growth in 2010-11.
Moreover, the absence of a liquid market for various types of assets also makes such estimation inappropriate, it said. One of the terms of reference of the committee was to examine if corporate saving estimation should be done on an MTM basis. MTM refers to the present value of assets based on their market prices.
The CPI (M) members seemed determined to thwart the bill, aimed at increasing the FDI limit in the insurance sector. As Minister of State for Finance P K Bansal rose to introduce the Insurance Laws (Amendment) Bill, 2008, CPI (M) member T K Rangarajan tried to grab the copy of the bill from him. An agitated-looking external affairs minister Pranab Mukherjee pushed Rangarajan to protect Bansal. Another minister Meira Kumar rushed to shield Bansal, who introduced the bill.
A summary of the fourth day's play in the Ranji Trophy quarter-finals.
Cabinet may tweak Rangarajan formula; new price may be further delayed.
The committee on financial inclusion, headed by C Rangarajan, the chairman of Prime Minister's Economic Advisory Council, has recommended that the profits transferred to their reserves by such banks should be exempted from tax till the banks achieve the standard capital adequacy ratio (CAR).
Experts believe scrapping some projects is likely to bring some stability in road sector.
History shows that confidence is at its highest just before a fundamental change occurs.
PM's economic advisors have suggested a hike in petrol and diesel prices to tackle the global crude prices.
Committee of secretaries is working on the formula and it is understood that EAC is also being asked to go through the formula.
Chidambaram to meet ministries' financial advisors, PM's economic council.
Round up of the Ranji Trophy games being played across the country
The govt. has set up a panel to review the investments and savings in the Indian economy. The panel will review financial savings and suggest improvements.
As a well-wisher of the Indian Statistical System and part of the system for more than 37 years, Sunil K Sinha, former DG and CEO of NSSO, offers suggestions to improve data quality.
Former champions South Zone have virtually qualified for semi-finals after reducing West Zone to 156 for 6 in on the penultimate day of their four-day Duleep Trophy match in Chennai on Saturday.
The government will implement recommendations of the committee chaired by Dr C Rangarajan, chairman of the Economic Advisory Council, to the prime minister, when it submits the final report.
