Planning Commission on Thursday said a desicion was expected shortlyon using foreign exchange reserves for infrastructure projects.
"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.
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.
Union Minister of Commerce and Industries Kamal Nath, would lead a high powered team to Davos in Switzerland sources in the government of India said in an informal chat with rediff.com.
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 contract is characterised by a minimum revenue guarantee and a cap on the firm's revenues.
India and US have launched a new bilateral dialogue on energy, which envisages setting up working groups focussing on, among other things, clean coal technology.
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.
He is scheduled to meet Prime Minister Manmohan Singh and Planning Commission Deputy Chairman Montek Singh Ahluwalia during his visit.
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 government is planning to utilize $5 billion worth of foreign exchange reserves for infrastructure development this fiscal.
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.
Passive income can help you earn more than a crore of rupees in 40 years. The only thing is you need to do is save and invest 10 per cent of your income.
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 growth in the economy since the 1990s notwithstanding, there has not been much reduction in poverty levels, for measuring which multi-dimensional efforts are needed, Montek Singh Ahluwalia, deputy chairman, Planning Commission said on Tuesday.
Planning Commission deputy chairperson Montek Singh Ahluwalia talks about reorganising central loans to the states, in the second of a two-part interview with Mamata Singh.
The ideal way will be to sterilise the inflow, build reserves and push liquidity into system.
The Planning Commission and the finance ministry have discordant views on the size of the 2007-08 Plan.
The government on Friday announced putting in place a regulator for the civil aviation sector.
