He is scheduled to meet Prime Minister Manmohan Singh and Planning Commission Deputy Chairman Montek Singh Ahluwalia during his visit.
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.
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.
The government is planning to utilize $5 billion worth of foreign exchange reserves for infrastructure development this fiscal.
The Planning Commission on Thursday said the surge in global oil prices should be passed on to customers, but favoured having some provisions to safeguard the interests of vulnerable sections of the society.
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.
A day before the announcement of the inflation data for August, the Planning Commission said that the figures would remain high but would start declining in subsequent months to reach a level of 6 per cent by December-end.
Says govt and Vodafone would have a reasonable compromise.
The Planning Commission's latest poverty estimates, based on the 2011-12 consumption expenditure survey, shows that across India, the number of people living below the poverty line declined by more than 15 percentage points -- from 2004-05 to 2011-12 and from 37 per cent to 21.9 per cent.
This failure of basic short-term policy is surprising, given the star power that this government brings to its economic management.
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.
This rampant form of piracy has caused huge losses to both American and Indian entertainment companies.
Prime Minister Manmohan Singh, who left for Washington on Saturday, is likely to take up with the US authorities the issue of video and cable piracy that has been causing huge losses to both American and Indian entertainment companies.
"The world economic slowdown will not affect the medium term growth prospects," Planning Commission Deputy Chairman Montek Singh Ahluwalia said, while addressing the 'TIE Entrepreneurial Summit 2007' in New Delhi on Tuesday. The economy was likely to clock a growth rate of 8.5 to 9 per cent during the current financial year, he said, adding that the gross domestic product growth rate was expected to be 9 per cent during the next three years.
The Planning Commission on Tuesday made a case for increasing prices of petrol and diesel arguing that it was not a good idea to check inflation by keeping prices of petroleum products low.
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.
Defending the government's decision to raise prices of petroleum products, the Plan panel said on Wednesday it would suck money from the system and ease inflationary pressure in the long run.
"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 country's economic growth rate slipped to 5.3 per cent in the fourth quarter of 2011-12, lowest in nearly 9 years due to poor performance of the manufacturing and farm sectors.
The government on Friday announced putting in place a regulator for the civil aviation sector.
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.
The Planning Commission on Tuesday said investment in infrastructure will have to be about $350 billion in the next five years to propel overall growth of economy to over 8 per cent.
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.
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 economy expanded at a decade-low rate of 5 per cent in the first year of the 12th Plan
The current account deficit is the difference between inflow and outflow of foreign exchange.
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