Since 2004, Montek Singh Ahluwalia, one of the commission's longest serving deputy chairmen, has been trying to mould it to fit into the new economic order, without much to show for his efforts.
Oil and gold had accounted for 45 per cent of India's imports bill in 2012-13.
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Between FY05 and FY12, rural poverty declined at 2.3 per cent per annum and urban at 1.69 per cent.
The document also recommends setting up of a high-level committee with the task of examining the option and asking it to submit a report within six months.
If the presentation made by the Commission to the chief ministers is followed in letter and spirit, central sector and sponsored schemes will no longer be the domain of central ministries alone.
India's Planning Commission has 31 divisions and seven attached offices, which include the Unique Identification Authority of India and Independent Evaluation Office.
Internal report, to be finalised in seven-10 days, may also suggest reduction in subsidies
For the first time, the Government of India has launched an interactive website to seek feedback and suggestion on various issues that would contribute to the approach paper of the twelfth Plan (2012-17). Views on the Plan can also be expressed through a Facebook page.
Assessment note says panel acts as control commission, especially in fund allocations to states.
Rajan Committee has evoked divergent reactions from the states.
Attributing the steep hike in petrol prices to declining value of rupee, Planning Commission on Wednesday said it will have immediate impact on the price situation but things will stabilise in the long run.
The perspective planning division might get a new lease of life.
Road developers hoping for early relief from the government will have to wait longer.
