Costlier food items, including vegetables, pushed the October wholesale inflation to 7 per cent, the highest in the current financial year.
The government plans to resurrect the ministry of disinvestment in a bid to raise resources by selling its shareholding in public sector companies.
Montek Singh Ahluwalia, Deputy Chairman of the Planning Commission made a presentation in which he pointed out the detailed process through which these targets were finalised and the high level of ambition they represent.
Reserve Bank, in its mid term review of the monetary policy on Friday, decided to hike short term policy rate by 0.25 per cent after a gap of two years and ease liquidity by reducing the marginal standing facility rate for banks.
Prime Minister Manmohan Singh said, "I do not claim victory. These are ideas which are under discussion in various fora. The sherpas have been discussing these ideas and it is a process of give and take. But I do claim some credit that in my speech, I brought the development issue into the very forefront of sustainable, manageable growth process."
The current account deficit is the difference between inflow and outflow of foreign exchange.
Planning Commission on Friday said it will revisit annual average GDP growth target of 8 per cent for the 12th Plan (2012-17) in view of dismal performance in first two years of policy period, while saying the economy is likely to expand by over 5 per cent this fiscal.
As the country faces the possibility of a fractured mandate after the 2014 general elections, Planning Commission Deputy Chairman Montek Singh Ahluwalia is of the view that in an era of coalition governments, special steps are needed to build consensus around policies or else, India will not be able to grow at its full potential.
A cut in government spending would come at the cost of growth.
According to sources, Ahluwalia and Rangarajan separately briefed Singh about the economic situation.
While about 8,000 people are in the long list of invitees, the select list features just a few hundred people, including prominent politicians, leading industrialists, top film stars, sportspersons, bureaucrats and diplomats.
Her research was focused on urban development, macro-economic reforms, industrial development, and social sector development issues in India.
Indian Industry leaders are elated that the Congress government has returned to power. Here is a wishlist of Cabinet ministers.
No comments could be obtained from the spokespersons of either Reliance Industries Limited or Anil Dhirubhai Ambani Group.
Modernisation of agricultural marketing is important, says Montek Singh Ahluwalia
The economy expanded at a decade-low rate of 5 per cent in the first year of the 12th Plan
This is a 22 per cent hike compared to the funding the state received last year.
The Planning Commission has suggested an investment of up to $30 billion from the burgeoning foreign exchange reserves of over $100 billion in the country.
Going by its past experience of differences between the central bank and the finance ministry, the government might prefer a person who could bridge this gap.
The Energy Co-ordination Committee, headed by Prime Minister Manmohan Singh, would meet on Tuesday with gas pricing, gas sourcing and gas allocation as the main topics on the agenda, an official source said.
Rajasthan's BJP Chief Minister Vasundhara Raje and Deputy Chairman of Planning Commission Montek Singh Ahluwalia on Monday differed on which Union government was behind the expressway project in the state.
Even though present times were fraught with challenges, there is still inherent, vast and untapped opportunity in India, concludes the 10th India Business Conference at Columbia Business School.
Against the all-state average of Rs 3,049 per capita development expenditure, Bihar registered Rs 1,446 during 2005-06. Similarly agaisnt all-state average of Rs 3,826 and Rs 4,208, Bihar recorded per capita development expenditure of Rs 2,123 and Rs 2,184 during 2006-07 and 2007-08 respectively.
"The rest of the world should pass a motion of thanks to India for keeping its emission at a level which actually is below the level required to achieve climate sustainability," says Montek Singh Ahluwalia, a key member of Prime Minister Manmohan Singh's economic team.
The chairman and CEO of Dow Chemicals Andrew Liveris will not attend the Indo-US CEO Business Forum meeting scheduled to be held in Washington.
The Goldman Sachs report that suggests the stock market, Nifty, could grow 17 percent to reach 7,000 by December. At this rate the country will be second to Korea, and better than China.
The meeting is likely to focus on removing impediments which are hampering implementation of the announced projects and policies which have been on the drawing board for long, official sources said. The social sector agenda of the prime minister includes pushing the Aam Admi Bima Yojana and Old Age Pension for the labour class, besides revamping Integrated Child Development Scheme and strengthening the public distribution system.
As China's ruling CPC appointed 'fifth generation' leaders headed by Xi Jinping, high-level Sino-India contacts are set to resume this month starting with the Strategic Economic Dialogue, which would be followed by a likely visit of National Security Advisor Shivshankar Menon in Beijing.
Already Puducherry owed to the Centre as much as Rs 4040 crore (Rs 40.4 billion) over the years as loan and interest.
When India's Commerce and Industry Minister Anand Sharma met his counterpart in Beijing last year, he spoke mainly about India's yawning trade deficit and China agreed that this was a problem that needed fixing.
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The growth has not been very robust in the first two financial years of the 12th Plan.
Interview with Montek Singh Ahluwalia, Deputy Chairman, Planning Commission.
Hours before Bharatiya Janata Party's Parliamentary Board meeting in New Delhi, senior party leader Murli Manohar Joshi had called Gujarat Chief Minister Narendra Modi as "chokh maal" (best product).
Those who have been following developments in the past few years know that Wal-Mart alone must have spent millions of dollars in India for lobbying with our government to open up retail sector for FDI.
The Union government's response to the many comments and criticisms of the 2009-10 Budget was explored by Karan Thapar for Devil's Advocate, the CNN-IBN channel programme, with deputy chairman of the Planning Commission Montek Singh Ahluwalia.
The authority is set to cross the target by the end of this month, with a million enrolments every day. It has already allotted 116.3 million Aadhar numbers.
Brazil, Russia, India & China (known collectively as BRIC) on Sunday sought a re-balancing of representation on the executive board and the International Monetary and Financial Committee of the International Monetary Fund (IMF). The committee is the policy-making arm of the IMF.
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