Replying to a question related to the possibility of additional fiscal stimulus measures in the forthcoming Budget, Planning Commission Deputy Chairman Montek Singh Ahluwalia said: "We have started some discussion with the finance ministry. This is related to what should be an appropriate size for planned expenditure for 2009-10." In the interim Budget announced in February this year, the planned expenditure for 2009-10 was budgeted at Rs 2,85,149 crore.
Freight corridor project slipping, needs supervision revamp, says Plan panel.
The committee is expected to submit its report soon.
Shortly before the commencement of the Sixth G20 Summit in Cannes, France, leaders of the emerging, but powerful, economies -- Brazil, Russia, India and China -- met with the intention of designing a joint strategy on how to tackle the Eurozone debt tsunami that could overrun the developing nations causing havoc.
Petroleum Minister Mani Shankar Aiyar on Tuesday indicated that the government would increase petrol, diesel and LPG prices, but also cut duties in a bid to contain the impact of surge in international oil prices.\n\n
According to principal advisor with the Planning Commission and former chief statistician, Pronob Sen, there were 40-45 million more people in the age group of 15-59 between 2004-05 and 2009-10. The unemployment rate has correspondingly fallen from 2.3 per cent to 2 per cent of the labour force.
Private power producers wanted the sub-market domestic coal prices to be averaged out with international price of imported coal so as to have a uniform fuel price and remove the disadvantage new projects faced as compared to older ones.
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.
According to sources, Finance Ministry favours a meagre hike of around 6 per cent in the Plan expenditure for next fiscal over budget estimate of the current financial year.
According to the Approach Paper to the 12th Plan, the Commission has pegged a plan expenditure of Rs 5.83 lakh crore (Rs 5.83 trillion) for 2013-14, which is around 12 per cent more than the budgeted plan expenditure for the current fiscal.
India's gross domestic product grew at a decade low of 5 per cent last fiscal.
His outburst has to rank among the most bizarre episodes of two arms of the government fighting in public.
The government is formulating a standard concession agreement for roads, ports and airports, expected to be ready by later this year.
India will set up a high-level committee to identify areas for expanding economic ties with the United States, from where it expects an estimated investment of $250-300 billion in infrastructure space.
Commerce Minister Anand Sharma and Planning Commission Deputy chairman Montek Singh Ahluwalia will also participate in the India-US Business CEOs Forum Meeting.
Higher economic growth can be sustained only in an atmosphere of reasonable price stability
Congress president Sonia Gandhi and Prime Minister Manmohan Singh will not be able to attend the annual World Economic Forum meeting to be held at Davos from January 24-28 next year.
Major economic policy reforms in India that require legislative changes is most likely to slip away until the next general elections, Deputy Chairman of the Planning Commission Montek Singh Ahluwalia said on Thursday.
Farm activists say low MSP is fine, if salaries revised under the Sixth Pay Commission are lowered.
Under attack over the Rs 32 per capita per day (in urban India and Rs 26 per day per person in rural areas) cut off for poverty line, the Planning Commission on Monday distanced itself from the controversial definition presented to the Supreme Court saying it did not represent its views.
The Reserve Bank of India announced measures late on Monday to curb the rupee's decline by tightening liquidity.
Strongly favouring a hike in power and water user charges, Planning Commission Deputy Chairman Montek Singh Ahluwalia on Thursday
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.
Planning Commission on Thursday said a desicion was expected shortlyon using foreign exchange reserves for infrastructure projects.
The principal Opposition party said an immediate cut in petrol and diesel prices was required in the larger interest of the nation. The BJP also demanded that interest rate on housing loans be brought down to 6 per cent and a real push be given for infrastructure development to 'avoid a catastrophe'.
One of the names proposed by the dailies is India's Planning Commission Deputy Chairman, Montek Singh Ahluwalia.
Dominique Strauss-Kahn, the head of the International Monetary Fund, who has been charged with a criminal sex act and is under arrest in the United States, has resigned from his position, leaving the global financial body to hunt for a new chief.
A Group of Ministers headed by Finance Minister Pranab Mukhejree is likely to meet on Monday to vet London-listed mining group Vedanta Resources' $ 9.6 billion acquisition of Cairn India.
He is scheduled to meet Prime Minister Manmohan Singh and Planning Commission Deputy Chairman Montek Singh Ahluwalia during his visit.
The government is planning to utilize $5 billion worth of foreign exchange reserves for infrastructure development this fiscal.
Former managing director of McKinsey & Co, Rajat Gupta, has stepped down as chairperson of the Public Health Foundation of India (PHFI). Gupta's resignation comes days before the PHFI executive was to discuss his exit.
A core group of ministers on Wednesday held inconclusive deliberations on a proposal to raise fuel prices, necessitated by a spike in global crude prices that threatens to spawn an oil import crisis.
"I don't think that it is government's view that the present inflation cannot be brought under control without FDI in multi-brand retail. We can bring inflation under control," Planning Commission Deputy Chairman Montek Singh Ahluwalia said.
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.
"Yes it is true that milk and vegetable prices are high. You know some of this is a reflection of economic prosperity and purchasing power," Commission Deputy Chairman 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.
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.
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