Former Prime Minister Manmohan Singh's 1991 budget unshackled India's economy, significantly enhancing the economic prospects for hundreds of millions of Indians, first deputy managing director of the International Monetary Fund (IMF) Gita Gopinath said on Friday.
The Congress-led coalition government will have to address the challenges of improving the country's infrastructure and modernise agriculture to ensure high growth of the economy
Ahluwalia's comment comes at a time when the government is facing flak over its decision to open up the multi-brand retail sector to foreign investment.
In an apparent attack on the previous united front and NDA governments for neglecting agriculture, the planning commission on Monday asked the centre to "correct" farm policies in view of the deceleration in the sector witnessed since 1996.
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.
High profile economist Montek Singh Ahluwalia on Monday assumed charge as the deputy chairman of Planning Commission.
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.
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.
Inflation, as measured by the Wholesale Price Index, had stood at 7.47 per cent in December 2011.
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.
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.
Behind the GBS figures, to be revealed in the Budget next week -- lies a fierce tug of war between Finance Minister P Chidambaram and Planning Commission Deputy Chairman Montek Singh Ahluwalia in which Prime Minister Manmohan Singh eventually threw his weight behind the finance minister.
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.
Freight corridor project slipping, needs supervision revamp, says Plan panel.
Planning Commission Deputy Chairman Montek Singh Ahluwalia warned that any extraordinary steps to contain inflation may prove counter-productive.
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.
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.
Planning Commission Deputy Chairman Montek Singh Ahluwalia, on Wednesday allayed fears over significant hardening of interest rates in view of the high government borrowings, pegged at around Rs 4.5 lakh crore (Rs 4.5 trillion) this fiscal.
Planning Commission on Tuesday endorsed RBI's hawkish policy of hiking key rates by half a percentage point saying this would contain inflation.
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.
The Planning Commission on Friday said that high inflation, primarily driven by rising food prices, is likely to ease in the next few months on the back of an expected good rabi crop.
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.
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.
"It is completely false. I don't know what is the basis of this. I am not a candidate. This is some speculative thing in the New York Times," Ahluwalia said.
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.
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'.
Showing concerns over hardening inflation, the Reserve Bank today left the key interest rate unchanged but reduced cash reserve ratio by 0.25 per cent to inject Rs 17,500 crore (Rs 175 billion) liquidity into the financial system.
Blaming earlier policies for "discriminating" against labour intensive sectors and leading to "significant deceleration" in employment, Planning Commission Deputy Chairman Montek Singh Ahluwalia on Friday
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.
On Monday, Reserve Bank hiked the lending rates to banks by 2 per cent to 10.25 per cent.
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.
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.
Dr Manmohan Singh first embossed himself on the national consciousness when as India's finance minister he flagged off economic reforms which changed this nation forever.
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.
Under Railways, the two sides agreed to pursue specific collaboration arrangements in heavy haul, station redevelopment and raising speed of existing trains in India.
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.
India's gross domestic product grew at a decade low of 5 per cent last fiscal.
Addressing an international meet on key inputs for accelerated development of Indian power sector at New Delhi on Tuesday Montek Singh Ahluwalia, Deputy Chairman of Planning Commission said that India's growth projection could be trimmed due to a poor monsoon.
