Planning Commission Deputy Chairman Montek Singh Ahluwalia on Monday expressed confidence that in the years to come India could emerge as the fastest growing economy in the world, beating China as the nation has yet to achieve its full growth potential.
The Planning Commission and the finance ministry have discordant views on the size of the 2007-08 Plan.
As the country faces the possibility of a fractured mandate after the 2014 general elections, Planning Commission Deputy Chairman Montek Singh Ahluwalia is of the view that in an era of coalition governments, special steps are needed to build consensus around policies or else, India will not be able to grow at its full potential.
India and US have launched a new bilateral dialogue on energy, which envisages setting up working groups focussing on, among other things, clean coal technology.
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.
The government may raise the number of job days under the NREGA scheme to compensate rural households for loss of income due to a poor monsoon in large part of the country.
A joint statement issued at the end of an India-Japan energy dialogue said both the countries would explore ways and means to further cooperation in the field of new and renewable energy sources.
India is fielding a 100-member team, led by Commerce Minister Kamal Nath and Planning Commission Deputy Chairman Montek Singh Ahluwalia. The duo will address a number of India-centric sessions on economic reforms.
Union Minister of Commerce and Industries Kamal Nath, would lead a high powered team to Davos in Switzerland sources in the government of India said in an informal chat with rediff.com.
This failure of basic short-term policy is surprising, given the star power that this government brings to its economic management.
While about 8,000 people are in the long list of invitees, the select list features just a few hundred people, including prominent politicians, leading industrialists, top film stars, sportspersons, bureaucrats and diplomats.
Bankers see stable interest rates in near future but are worried about the spiralling global oil prices that is exerting pressure on domestic prices and exchange rate.
The growth in the economy since the 1990s notwithstanding, there has not been much reduction in poverty levels, for measuring which multi-dimensional efforts are needed, Montek Singh Ahluwalia, deputy chairman, Planning Commission said on Tuesday.
Planning Commission Deputy Chairman Montek Singh Ahluwalia on Thursday said that he favoured a hike in the fuel prices to offset the increase in international crude prices. "The only viable strategy is to pass on the subsidy (oil) burden to the consumers, while providing targeted subsidy to the needy. And if we do not do it, investments in social sectors will be affected," he said.
The impact of stimulus measures was evident as manufacturing grew by 10.2 per cent, electricity by 10.6 per cent in August.
"Second quarter will be worse (than 6.1 per cent growth in Q1) and may be Q3 also," Planning Commission Deputy Chairman Montek Singh Ahluwalia said today after the full plan panel meeting. However, he said the economic growth will rebound in the fourth quarter to enable the economy to clock 6.3 per cent for the entire fiscal.
The government on Friday announced putting in place a regulator for the civil aviation sector.
State-run Power Finance Corporation on Thursday awarded the 4,000 MW Sasan and Mundra ultra mega power projects to the two successful bidders Lanco Infratech and Tata Power respectively.
Former Prime Minister Manmohan Singh, who is under fire from the former CAG Vinod Rai over the 2G spectrum scam and Coalgate, said he has done his "duty" and refused to respond to charges levelled against him.
India, which aspires to grow like China in various spheres, is interestingly against replicating the Beijing model of population control as it feels that a sudden reduction could impact supply of labour.
The assessment sent to the Prime Minister recommended that a new think-tank be set up with experts of domain knowledge to replace the plan body.
Coinciding with the 3-day traders stir against the implementation of value added tax, the Mid-term Appraisal of the 10th plan has pointed to "serious design flaws" in the tax even as Planning Commission Deputy Chairman Montek Singh
The 64-year-old Planning Commission, a vestige of the socialist era, will soon become history.
Prime Minister Narendra Modi's goal of making India a high-income economy by 2047 is unlikely to be achieved, but the country should become an upper middle-income nation by then, Financial Times chief economics commentator Martin Wolf said on Friday. Wolf further said that India would also become a superpower by 2047. "India wishes to become a high-income country by 2047.
Ace golfer Gaganjeet Bhullar has won the best pro award at the Take Solutions India Golf Awards held recently at a city hotel in Gurgaon.
China is willing to encourage Chinese companies to invest in Indian industrial parks to produce personal computers, Internet equipments, cell phones and televisions.
The quiet corridors of the Planning Commission were again agog with activity following talk that the central government would soon announce the former's much-awaited reconstitution.
No government can 'ignore inclusiveness in a democracy', Montek Singh Ahluwalia tells Anjuli Bhargava.
Going by its past experience of differences between the central bank and the finance ministry, the government might prefer a person who could bridge this gap.
In his book, Backstage: The Story Behind India's High Growth Years, Montek Singh Ahluwalia accepted the Act "increased the cost of land to financially unsustainable levels ... and made it easier for anyone who wants to stop a project to use the various consultative processes required under the law to delay matters".
The RBI has enough "fire power" to deal with the rupee volatility and will intervene in the forex market as and when required, said Planning Commission Deputy Chairman Montek Singh Ahluwalia.
A cut in government spending would come at the cost of growth.
The Plan Panel was set up by a simple government resolution in March 1950 had withstood many political and economic upheavals.
'When Prime Minister Modi met President Trump, they agreed to initiate a bilateral trade dialogue.' 'It makes sense to give these negotiations a chance.'
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