The process of preparing approach paper to the 12th Plan has already been started and the panel wants that besides its experts and committees on different areas, the general people particularly youngsters share their views about how should the country should go about the next Five-Year Plan.
The data further revealed that GDP growth rate was 9.4 per cent in the last quarter of 2009-10 and 8.3 per cent in the third quarter of 2010-11.
According to the IMF sources, the 27-member European Union bloc had asked the Chinese for support for Lagarde.
The nation's highest policymaking body, the National Development Council, will focus on five key areas, including the Naxal menace, power reforms and water crisis, at its meeting on Saturday.
Freight corridor project slipping, needs supervision revamp, says Plan panel.
Inflation, as measured by the Wholesale Price Index, had stood at 7.47 per cent in December 2011.
Ahead of the July 24 National Development Council (NDC) meeting, the Planning Commission will come out with a report on the problems in the Naxal-hit areas and the issues being faced by tribals.
The Plan panel on Wednesday said it has appointed civil rights activist Binayak Sen, convicted for sedition, on the board of one of its steering committees to give input for 12th Plan (2012-17) on health related issues.
Road Transport Minister Kamal Nath said on Monday he was forewarned that the Plan panel would not allow him to achieve a 20 km-a-day road-building target.
The Union government's response to the many comments and criticisms of the 2009-10 Budget was explored by Karan Thapar for Devil's Advocate, the CNN-IBN channel programme, with deputy chairman of the Planning Commission Montek Singh Ahluwalia.
"Attempts should be made to curtail growth of subsidies to achieve nine per cent growth. We are trying to achieve nine per cent growth. Though there are major challenges like global slowdown, we will achieve the target," Singh said.
"In China's 12th Plan, exports do not hold the same place. Besides, the Chinese will be vacating the lower end of value spectrum like textiles and leather...So who will replace them? Are we going to step in or will it be Vietnam or Turkey or Indonesia," Planning Commission Deputy Chairman Montek Singh Ahluwalia said.
Government and the Planning Commission had earlier projected a growth rate of 9 per cent during 2011-12, up from 8.6 per cent in the previous fiscal.
International economic diplomacy will be a major focus for the new government.
The government plans to resurrect the ministry of disinvestment in a bid to raise resources by selling its shareholding in public sector companies.
The Planning Commission on Thursday described the International Monetary Fund's growth projection of 8.8 per cent for India as optimistic and said the panel would stick to its outlook.
In September, industrial growth fell to just 1.9 per cent, its lowest in two years. Inflation is at 9.73 per cent, its 10th month above nine per cent.
The Planning Commission on Monday said investment in the infrastructure sector in the Eleventh Five-Year Plan (2007-12) will be close to the target of $500 billion, thanks to a better-than-expected show by the telecom sector
India on Wednesday said it hopes the G-20 nations will pay heed to its call for a strong action on the issue of black money stashed in tax havens during their crucial summit in Cannes.
The Forum will host a special session on 'The reality of terrorism', to be initiated by Union home minister P Chidambaram. The deputy chairman of the Planning Commission, Montek Singh Ahluwalia, and commerce and industry minister Anand Sharma will be part of the Indian delegation.
Brazil, Russia, India & China (known collectively as BRIC) on Sunday sought a re-balancing of representation on the executive board and the International Monetary and Financial Committee of the International Monetary Fund (IMF). The committee is the policy-making arm of the IMF.
In order to help the industry combat the impact of global financial crisis, the government had provided three stimulus packages to the industry resulting in a revenue sacrifice of Rs 1.86 lakh crore (Rs 1.86 trillion).
Moreover, 'no-go' areas need not be excluded for mining activities for ever, Planning Commission deputy chairman Montek Singh Ahluwalia said.
The meeting chaired by Prime Minister Manmohan Singh was attended by Commerce and Industry Minister Kamal Nath and Planning Commission Deputy Chairman Montek Singh Ahluwalia. Industry leaders, including Ratan Tata, Rahul Bajaj, Mukesh Ambani and Sunil Bharti Mittal, who are members of the council, also participated in the discussions.
The Planning Commission on Tuesday said it expected industrial production to beat last year's growth and attributed the revival to various stimulus measures. His comments came after latest government data showed that factory production grew 11.7 per cent in November last year.
Following widespread drought and floods in various parts of the country, food inflation climbed to more than a 10-year high of 19.95 per cent in December, driven mainly by higher prices of potato, other vegetables and pulses.
Blaming earlier policies for "discriminating" against labour intensive sectors and leading to "significant deceleration" in employment, Planning Commission Deputy Chairman Montek Singh Ahluwalia on Friday
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.
Prime Minister Manmohan Singh said, "I do not claim victory. These are ideas which are under discussion in various fora. The sherpas have been discussing these ideas and it is a process of give and take. But I do claim some credit that in my speech, I brought the development issue into the very forefront of sustainable, manageable growth process."
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.
In view of declining inflation and recessionary conditions, the Planning Commission expects industry to cut prices in the normal course to battle economic slowdown.
Ahluwalia's assessment of economic growth is marginally higher than 6.3 per cent projected by the Commission earlier.
Emerging economies can expand at a "reasonable pace" in the next four to five years even if growth in developed nations is moderate, Planning Commission Deputy Chairman Montek Singh Ahluwalia said.
The government is formulating a standard concession agreement for roads, ports and airports, expected to be ready by later this year.
Planning Commission Deputy Chairman Montek Singh Ahluwalia on Tuesday said that poor monsoon will adversely impact farm production and trim economic growth.
If Kamal Nath launches a broadside, it is because his ministry now can no longer afford to ignore the advice that comes from Yojana Bhavan.
However, 10 per cent economic growth rate does not seem feasible, Planning Commission Deputy Chairman Montek Singh Ahluwalia told reporters here, a day before full Plan panel is to meet under the chairmanship of Prime Minister Manmohan Singh.
Asked whether the improvement in the index of industrial production data, released today, indicates that the worst is over for industry, Ahluwalia said, "We do believe that the worst is over. (But) there is difference between the worst being over and getting back to robust growth.
Indian industry began this financial year on a strong foot, with robust growth of 17.6 per cent in April. This has surpassed analyst expectations and fuelled concerns of a rate hike by the Reserve Bank of India (RBI).
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