Restructure oil PSUs on a selective basis: Pant
Indian industry began this financial year on a strong foot, with robust growth of 17.6 per cent in April. This has surpassed analyst expectations and fuelled concerns of a rate hike by the Reserve Bank of India (RBI).
Planning Commission Deputy Chairman Montek Singh Ahluwalia, who has just resigned, on Monday remained non-committal on his prospects of becoming finance minister while describing reports on this as "speculation".
The meetings with Singh and Ahluwalia have taken place just two days before the announcement of the results of the general elections for the 15th Lok Sabha. Besides Karnik, the other nominees on the Satyam board are HDFC chairman Deepak Parekh, former ICAI chairman T M Manoharan, CII chief mentor Tarun Das, LIC executive S B Mainak and former presiding officer of Securities and Appellate Tribunal C Achuthan.
The Rs 67,700-crore (Rs 677 billion) revenue boost from the auction of 3G spectrum licences will help the government reduce its borrowings in the current fiscal, Planning Commission deputy chairman Montek Singh Ahluwalia said.
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.
Montek Singh Ahluwalia appealed to the Indian Diaspora at the PBD gathering to support health care ventures of the Indian government, for people below the poverty line.
The government on Friday announced putting in place a regulator for the civil aviation sector.
Railways were now less dependent on budgetary support than five years earlier due to the efforts of Lalu Prasad in making the sector financially self-reliant, Finance Minister Pranab Mukherjee said on Saturday.
Planning Commission Deputy Chairman Montek Singh Ahluwalia made a case on Wednesday for setting up a credible regulatory environment to attract funds for infrastructure development in the country. There are opportunities for private sector participation in infrastructure projects, which are being developed under the PPP mode, like on roads, ports and power, Ahluwalia told global investors.
Setting at rest speculation about the possibility of tax cuts to boost growth, the Planning Commission Deputy Chairman Montek Singh Ahluwalia on Tuesday said the government will not change the tax structure during the current fiscal, ending March 31.
Planning Commission Deputy Chairman Montek Singh Ahluwalia on Monday expressed confidence that in the years to come India could emerge as the fastest growing economy in the world, beating China as the nation has yet to achieve its full growth potential.
With the inflation rate almost halving from the peak levels in August and economic growth slackening, Planning Commission Deputy Chairman Montek Singh Ahluwalia today said there is further scope for the Reserve Bank of India to cut lending rates.
India should learn to live with high energy prices for rapid economic growth, said Planning Commission Deputy Chairman Montek Singh Ahluwalia after two of the state-owned oil companies hiked petrol rates this week.
India can now, if required, borrow up to $30 billion a year, up from $6 billion, from the International Monetary Fund for a three-month period which can be renewed twice more in 3-month cycles.
"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.
The principal Opposition party said an immediate cut in petrol and diesel prices was required in the larger interest of the nation. The BJP also demanded that interest rate on housing loans be brought down to 6 per cent and a real push be given for infrastructure development to 'avoid a catastrophe'.
"The full impact of the Dubai debt crisis is yet to be assessed, but there is no need to press the panic button," said Pranab Mukherjee.
Higher economic growth can be sustained only in an atmosphere of reasonable price stability
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.
Reasserting the fact that India could easily attain a growth rate of above 7 per cent in the next financial year, Planning Commission deputy chairman Montek Singh Ahluwalia said on Sunday India was not extensively dependent on the global economic recovery for its own growth projections.
Officials said the polling went off peacefully in all segments including special polling stations along the International Border and Line of Control (LoC) with no untoward incident reported from anywhere.
Future students of Industrial Training Institutes can look forward to learning new trade skills that would arm them to the teeth in the job market, with the government currently working towards revamping these vocational institutes.
Planning Commission Deputy Chairman Montek Singh Ahluwalia warned that any extraordinary steps to contain inflation may prove counter-productive.
The government may raise the number of job days under the NREGA scheme to compensate rural households for loss of income due to a poor monsoon in large part of the country.
India has said it would exercise caution in embracing fuller rupee float since the gradual approach towards liberalising the foreign exchange regime has paid in the past.
Hailing the Budget 2009-10 as "growth oriented", Planning Commission Deputy Chairman Montek Singh Ahluwalia on Monday said there would be no need for another stimulus in the current fiscal.
Planning Commission Deputy Chairman K C Pant on Thursday prescribed restructuring and divestment of oil PSUs on a "selective basis" to achieve the 8 per cent economic growth target set for the 10th Five Year Plan period.
Congress president Sonia Gandhi and Prime Minister Manmohan Singh will not be able to attend the annual World Economic Forum meeting to be held at Davos from January 24-28 next year.
The BJP may win more seats in the February 5 assembly election, but not enough to trump AAP, notes Ramesh Menon.
Strongly favouring a hike in power and water user charges, Planning Commission Deputy Chairman Montek Singh Ahluwalia on Thursday
India is expected to record a gross domestic product (GDP) growth rate of 6 per cent this fiscal, which will improve further in the next fiscal with likely recovery in the global economy, Planning Commission Deputy Chairman Montek Singh Ahluwalia said.
This failure of basic short-term policy is surprising, given the star power that this government brings to its economic management.
IT major Infosys Technologies Ltd became the first Indian company to remotely ring the opening bell of Nasdaq from its Mysore campus on Monday.
He rejected the recommendation of the report that "major emitters" in developing countries should aim at an emission trajectory that peaks in 2020 and leads to a 20 per cent cut by 2050.
This is the message of the latest Human Development report, 2007-2008, which was released on Tuesday by Planning Commission Deputy Chairman Montek Singh Ahluwalia in New Delhi. The global release was in Brazil.
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.'
With industrial production contracting by 0.4 per cent in October, for the first time in 15 years, and the exports declining by over 12 per cent during the month, the government came out with a stimulus package on December 7 to spur growth and help the industry combat the impact of global financial meltdown. As part of the stimulus package, the government cut excise duty by 4 per cent across the board, except on petroleum products.
In an interview to CFO Asia, a publication of The Economist Group, Montek Singh Ahluwalia said the general public was opposed to privatisation of state-owned enterprises although they feel that public sector was inefficient and corrupt.
Planning Commission Deputy Chairman Montek Singh Alhluwalia has said that a person who can spend Rs 32 a day in urban India -- and Rs 26 a day in rural India -- is not poor and that he is above the poverty line.
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