Amid the controversy raging over the definition of poverty, Planning Commission Deputy Chairman Montek Singh Ahluwalia and Union Rural Development Minister Jairam Ramesh on Monday claimed that they have resolved the issue.
Planning Commission Deputy Chairman Montek Singh Ahluwalia, who has just resigned, on Monday remained non-committal on his prospects of becoming finance minister while describing reports on this as "speculation".
Montek also said he did not consider the fall of about two per cent or so in Asian markets, including India this morning, as severe.
Concerned over rising food prices, planning commission deputy chairman Montek Singh Ahluwalia on Monday pitched for increasing supplies through imports and better use of the public distribution system.
With the inflation rate almost halving from the peak levels in August and economic growth slackening, Planning Commission Deputy Chairman Montek Singh Ahluwalia today said there is further scope for the Reserve Bank of India to cut lending rates.
Ahead of the G-20 Summit, Planning Commission Deputy Chairman Montek Singh Ahluwalia will lead a delegation to a preparatory meet on March 11 in London where deliberations on issues like liquidity crunch and reforms in international financial institutions are likely be taken up.
The government has plans for the third round of spectrum auction and may put on block 2G GSM airwaves in Delhi and Mumbai circles, and CDMA spectrum in 13 circles that remained unsold in the previous sale held in March, according to sources.
In an interview to CFO Asia, a publication of The Economist Group, Montek Singh Ahluwalia said the general public was opposed to privatisation of state-owned enterprises although they feel that public sector was inefficient and corrupt.
Planning Commission Deputy Chairman Montek Singh Ahluwalia warned that any extraordinary steps to contain inflation may prove counter-productive.
Finance minister Pranab Mukherjee, however, had said that stimulus measures need to continue till there is robust recovery in the developed world, which account for bulk of India's exports.
Indian economy grew at a nine-year low rate of 5.3 per cent in January-March quarter in the last financial year and also in the last fiscal at 6.5 per cent.
Monsoon has missed its date this year with granary states of Punjab and Haryana.
Students of Kolkata's Presidency College on Saturday hurled eggs and tomatoes at Planning Commission Deputy Chairman Montek Singh Ahluwalia to protest price rise while he was leaving a seminar, but missed their target.Eyewitnesses said that student demonstrators belonging to the Students Federation of India, affiliated to the Communist Party of India - Marxist, threw eggs and tomatoes and waved black flags at Ahluwalia as he was leaving a UGC-sponsored national seminar.
Reserve Bank of India, in consultation with the government, has raised the FII investment limit in government securities by $5 billion to $20 billion.
Manmohan Singh, who also heads the government's Plan think-tank, complimented the internal Planning Commission for starting the process of mid-term appraisal in 'right earnest.'
Concerned over sluggish growth and poor investment climate, Assocham President Rajkumar Dhoot met Planning Commission Deputy Chairman Montek Singh Ahluwalia on Thursday and demanded the controversial tax proposal GAAR be put in 'cold storage'.
Planning commission deputy chairman Montek Singh Ahluwalia on Tuesday said the government should consider general lowering of duty rates across sectors to avoid creating arbitrage under free trade agreements.
Prime Minister Manmohan Singh last month had said inflation would moderate to 5-6 per cent by the end of the calender year.
The Planning Commission said on Tuesday that emphasis on inclusiveness by the government should not be misconstrued as dilution of the overall growth agenda and the benefits should percolate to all strata of the society.
Planning Commission on Tuesday endorsed RBI's hawkish policy of hiking key rates by half a percentage point saying this would contain inflation.
"If half a dozen other developing countries could do it, India can too. There are some things we need to do and if we do them right, there should be no doubt about achieving the projected growth rates," Ahluwalia said.
Plan panel Deputy Chairman Montek Singh Ahluwalia welcomed the initiative to set up a Rail Tariff Regulatory Authority for rationalising fare and freight rates, in the Railway budget.
Differing with International Monetary Fund's growth forecast of 4.9 per cent for India during 2012, Planning Commission Deputy Chairman Montek Singh Ahluwalia said it has a statistical problem.
During the fourth quarter of last fiscal, the economy had grown at a nine-year low rate of 5.3 per cent. During the entire fiscal of 2011-12, the economy grew by 6.5 per cent.
The economy will turn the corner in the next six months as the deceleration of the past several quarters has been arrested, Planning Commission Deputy Chairman Montek Singh Ahluwalia said on Monday.
Batting for the Reserve Bank of India and the finance ministry, the Planning Commission on Friday said concessions to special economic zones should be at par with those provided to infrastructure projects.\n\n
A good wheat crop this season is likely to ease the near double digit inflation in the next 2-3 months, Planning Commission Deputy Chairman Montek Singh Ahluwalia said on Wednesday.
Finance Secretary Ashok Chawla, in an impromptu chat with reporters, sided with Sebi, while Planning Commission Deputy Chairman Montek Singh Ahluwalia cited the spat to make a case for setting up a Financial Development and Stability Council (FSDC).
As the debate is on to decontrol fuel prices, the Planning Commission Deputy Chairman Montek Singh Ahluwalia on Thursday said it would be a bad idea to continue with subsidies to keep oil prices subdued.
With a view to find a long term alternative to scarce petroleum products, Planning Commission Deputy Chairman Montek Singh Ahluwalia
The tug of war between the finance ministry and the Planning Commission over more resources for plan projects worsened, with Planning Commission Deputy Chairman Montek Singh Ahluwalia saying he was keen on getting more money for the 11th Plan.
Stock markets might be tumbling like ninepins but India's policy planners feel the crash on the bourses is just in line with global trends and the economy is not overheated, as all macro indicators remain strong.
Home Minister P Chidambaram and Planning Commission Deputy Chairman Montek Singh Ahluwalia rejected reports that they were locked in a turf war over the ambitious UIDAI project to give every Indian resident a unique ID number Aadhar.
The Planning Commission deputy chairman Montek Singh Ahluwalia said on Wednesday objections to the disinvestment progammes of the government can be sorted out through discussions. Although the government has expressed its commitment to offload equity in state-owned companies while retaining 51 per cent share, the supporting Dravida Munnetra Kazhagam had raised objections to it.
In view of declining inflation and recessionary conditions, the Planning Commission expects industry to cut prices in the normal course to battle economic slowdown.
As the suspense continued over the presence of 'foreign' representatives in the consultative committees of the Planning Commission, its Deputy Chairman Montek Singh Ahluwalia has said the issue would be discussed early next week.
The Wholesale Price Index-based inflation fell to 4.7 per cent in May, driven mainly by decline in prices of manufactured items, even as prices of food articles inched up.
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