Why phasing out the fertiliser subsidy will affect small farmers.
Using the same methodology as the EAC-PM study, the fastest-growing religious population is, in fact, the Buddhists. The Buddhist population increased by over 1,600 per cent between 1950 and 2015.
Ignoring the rate cut demand of India Inc, RBI in its first quarter monetary policy review kept the short-term lending (repo) rate, at which banks borrow from RBI, unchanged at 8 per cent.
Muslims' share in the reservation will keep on increasing also because of "conversion and infiltration because they are having a secular cover from them (the Congress)", he added.
He said the government would not go in for providing stimulus across the board and that only specific sectors would be considered for the measure.
'The terminal year could yield nine per cent.'
It forecast a growth of 9 per cent for 2011-12.
Industry chambers also sought conducive policies for completion of large infrastructure projects in time.
Fiscal correction is needed even after the changes that have been made now, otherwise the fiscal deficit would tend to be high.
In an interview with Business Standard, he says investments would pick up and inflation would fall in the next financial year, providing the Reserve Bank of India the room to cut rates.
Popular anguish over the slow pace of economic reforms has grown more intense in the last few weeks even as Congress President Sonia Gandhi takes charge as the head of the National Advisory Council and Prime Minister Manmohan Singh's grip on the policy-making apparatus of the United Progressive Alliance (UPA) government appears to get weaker.
The Prime Minister Economy Advisory Council has projected a mere two per cent growth in the sector for the current year. Earlier in August, PMEAC had projected the agriculture production to grow at a lower pace of two per cent in the current year as against 4.5 per cent in 2007-08.
The Prime Minister's economic panel said high food inflation reflects lacklustre performance of the farm sector, which together with infrastructure, remains the main bottlenecks to higher growth.
'Fiscal and monetary space is more constrained in developing countries because of inflation and high borrowing cost.'
The finance minister said figures for second quarter economic growth are yet to come, but industry has started picking up. The Indian economy grew by 6.1 per cent in the first quarter. On inflation, Mukherjee said the government has taken steps to ensure that the adverse impact of inflationary pressures is reduced by strengthening supply management.
The Reserve Bank's decision to cut interest rates will stimulate investment and help in anchoring inflationary expectations, Prime Minister's Economic Advisory Council (PMEAC) Chairman C Rangarajan said.
According to data released on Thursday, Wholesale Price Index-based inflation rose to seven per cent in October from 6.46 per cent in September.
They want govt to raise excise duty and service tax rates, cut subsidies.
Food inflation rose to 17.47 per cent in the third week of November against 15.58 per cent in the previous week.
Food inflation is an area of concern for the common man and government with rate of price rise touching as high as 18.32 per cent in the last week of December mainly fueled by mass consumption items like vegetables, milk and protein-based items.
According to Jagdish Shettigar, chairman of BJP's economic cell and former member of the Prime Minister's Economic Advisory Council, infrastructure, especially road building, will be a priority. It is now also certain that work on the controversial 111-km Nandi Infrastructure Corridor Enterprise connecting Bnagalore and Mysore will be accelerated. "We have always supported NICE," said a BJP leader.
He says though agriculture and industry would get a fillip in the second half of this financial year, a complete economic revival is expected only in 2013-14.
Interest rates may harden a bit by the end of the current financial year, according to C Rangarajan, chairman of the Prime Minister's Economic Advisory Council.
Chief Statistician T C A Anant says this a unique crisis and should be dealt with keeping the current situation in mind.
Modern organised retail will be helpful in containing inflation and allowing foreign direct investment (FDI) in multi-brand retail leads to development of back-end infrastructure that will benefit farmers, according to C Rangarajan, Chairman of the Economic Advisory Council to the Prime Minister.
Higher economic growth can be sustained only in an atmosphere of reasonable price stability
Slow growth of the US and Europe will have some adverse affect on Indian exports.
The Prime Minister's Economic Advisory Council on Monday projected the economic growth in the country at 8.6 per cent for the current fiscal on the back of rebound in farm output and inflation to come down to 7 per cent by March-end due to declining food prices.
Prime Minister Manmohan Singh mourned his death in his message to Tendulkar's wife Sunetra.
"India's economic fundamentals are quite robust and its economy remains the second-fastest growing one in the world," the prime minister's Economic Advisory Council's chairman Suresh Tendulkar told reporters in Mumbai. According to him, the financial meltdown in advanced economies 'has been very serious'.
The food ministry has supported the suggestion of Rangarajan panel to allow export of 2 million tons of wheat from government stocks immediately to ease pressure on storages, the Rajya Sabha was informed on Monday.
Finance, oil ministry tussle over exports.
Inflation measured by the Wholesale Price Index had declined to 6.62 per cent in January. It was 7.18 per cent in December and 7.24 per cent in November.
The Prime Minister's economic panel on Tuesday said it could revise upward the economic growth forecast to 7 per cent from 6.5 per cent for the current fiscal on the back of robust economic growth in the second quarter.
The Prime Minister's Economic Advisory Council Chairman C Rangarajan has said the hike in interest rates will not impact the high economic growth in the face of strong fundamentals.
The government should act quickly to raise diesel rates to bring them in line with global prices in order to reduce its subsidy bill, Prime Minister's Economic Advisory Council Chairman C Ranagarajan has said.
On Tuesday, the partially convertible rupee, the worst performing currency among the major global economies, dropped as much as 3.1 percent to 68.12 per dollar.
Rangarajan says there was no need to change the inflation comfort level from four-five per cent.
D Subbarao reiterated concerns over rising gold imports and its pressure on current account deficit.
The former Governor of RBI said India would see 'definite signs of recovery' in the second half of 2009-10. On growth forecast, he said this fiscal will see a rate of 6 and 6.5 per cent, but it will be higher next fiscal.
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