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.
Terming the Union Budget as an excellent document, Planning Commission Deputy Chairman Montek Singh Ahluwalia on Monday said efforts were on to break the impasse on turnover tax on securities transactions.
Seeking to set at rest controversy over Aadhar, Planning Commission Deputy Chairman Montek Singh Ahluwalia has said that UID is a number and not an identity card.
Planning Commission Deputy Chairman Montek Singh Ahluwalia on Wednesday called for sweeping reforms in education and health to make the surging economic growth truly inclusive.
He was the chief guest of UIDAI's function in New Delhi.
The Planning Commission said on Tuesday the current upswing in the economy, which is showing signs of overheating, was unlikely to continue in the long term, while attributing pressure on prices to high growth rate.
On Monday, Reserve Bank hiked the lending rates to banks by 2 per cent to 10.25 per cent.
The Planning Commission on Tuesday said that inflation is not coming down as expected and it would be little higher than earlier forecast of close 6 per cent for the month of December.
Hailing Reserve Bank's decision to cut key rates, Plan panel on Tuesday said it would boost investments and hoped the measures will have significant effect on long term borrowing rates.
Enthused by the prospects of good monsoon, the Planning Commission on Tuesday said the double digits inflation would decline by December, and sounded optimism that economic growth would exceed 8.5 per cent this fiscal.
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 has pitched for linking of domestic fuel prices with those in the international market saying it is necessary for country's global "economic reputation".
RBI has chosen to keep all key rates and ratios unchanged in its policy review unveiled earlier in the day.
The Planning Commission in its draft approach paper to the 11th five year plan would stress on doubling agricultural growth and bridging regional imablances among other things.
The Planning Commission said the decision of oil marketing companies to raise petrol price by Rs 3.14 per litre is a good news and will provide credibility to the economic reforms process.
Planning Commission Deputy Chairman Montek Singh Ahluwalia says investors are aware the government is addressing various problems in the economy.
Monsoon has missed its date this year with granary states of Punjab and Haryana.
According to Planning Commission Deputy Chairman Montek Singh Ahluwalia, more than the anticipated growth in the farm sector will make up for the shortfall in the industrial output.
The Planning Commission on Tuesday projected a 8.5-9 per cent economic growth for this fiscal despite a slowdown in industrial growth in July.
The country's economic growth rate slipped to 5.3 per cent in the fourth quarter of 2011-12, lowest in nearly 9 years due to poor performance of the manufacturing and farm sectors.
The Plan panel on Wednesday said the government's refusal to accord environment clearance to Vedanta's proposed $1.7 billion aluminium project in Orissa would not tarnish India's image as an investment friendly destination.
Favouring independent regulators for railways and road sector, Planning Commission deputy chairman Montek Singh Ahluwalia on Friday stressed on the need for proper policy framework defining the role of these monitors.
According to official data released on Friday, industrial growth has slipped to 0.6 per cent in February this year due to contraction in power generation and mining output and poor performance of manufacturing sector.
According to Ahluwalia, if everything goes well on the economic growth front for the next three months, then one can say that the economy will be back on higher growth trajectory in the long run.
The document which was tabled in Parliament by Finance Minister P Chidambaram has projected the growth rate for next fiscal at 6.1-6.7 per cent.
Says insurance and pension bills will be taken up in the forthcoming Budget Session.
In a note, titled 'IIFCL financing for PPP projects,' sent to Prime Minister Manmohan Singh, Ahluwalia wrote, 'It was pointed out in the meeting that the term of the current CMD (chairman and managing director) of IIFCL ends on March 10. The FS (finance secretary) had indicated that the term can be extended. Action on this front should be expedited to avoid loss of momentum.'
Ahead of the July 24 National Development Council (NDC) meeting, the Planning Commission will come out with a report on the problems in the Naxal-hit areas and the issues being faced by tribals.
Amid threats that India's credit rating could be downgraded and a slowdown in the economy, Planning Commission deputy chairman Montek Singh Ahluwalia said the government is taking several steps to boost investor confidence and more such measures may follow.
Currently 100 per cent FDI is allowed in the sector.
The Planning Commission on Thursday described the International Monetary Fund's growth projection of 8.8 per cent for India as optimistic and said the panel would stick to its outlook.
The Planning Commission on Thursday said the surge in global oil prices should be passed on to customers, but favoured having some provisions to safeguard the interests of vulnerable sections of the society.
Addressing a high level debate on 'State of the World Economy and Finance in 2012' at the United Nations General Assembly in United Nations on Thursday, Ahluwalia said the Indian economy grew at an average rate of 9 per cent in the five years prior to the financial crisis of 2008.
In order to help the industry combat the impact of global financial crisis, the government had provided three stimulus packages to the industry resulting in a revenue sacrifice of Rs 1.86 lakh crore (Rs 1.86 trillion).
There is no doubt that economic growth has picked up. It's also true that inflation has edged up. We had said at the beginning that sometime in the course of the year we would begin to slowly wind it down and what has happened is on course for that decision but exactly what, it's too early to say, says Montek Singh Ahluwalia.
Following widespread drought and floods in various parts of the country, food inflation climbed to more than a 10-year high of 19.95 per cent in December, driven mainly by higher prices of potato, other vegetables and pulses.
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