In the October-December quarter, India's economy grew below expectations at 4.7 per cent on falling output in the manufacturing sector.
Ahluwalia's assessment of economic growth is marginally higher than 6.3 per cent projected by the Commission earlier.
He also indicated that the current position of the rupee is competitive against world currencies.
"Second quarter will be worse (than 6.1 per cent growth in Q1) and may be Q3 also," Planning Commission Deputy Chairman Montek Singh Ahluwalia said today after the full plan panel meeting. However, he said the economic growth will rebound in the fourth quarter to enable the economy to clock 6.3 per cent for the entire fiscal.
Costlier food items, including vegetables, pushed the October wholesale inflation to 7 per cent, the highest in the current financial year.
The term of the Deputy Chairman and Members of the Commission is coterminous with that of the Prime Minister and all of them have resigned following the change of government last month after the general elections.
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.
The weapon carrying security personnel pushed journalists, who retaliated with more pushes and shoves.
The 12th Plan document describes three average annual growth scenarios - 8%, 6-6.5% and 5-5.5 per cent.
Private power producers wanted the sub-market domestic coal prices to be averaged out with international price of imported coal so as to have a uniform fuel price and remove the disadvantage new projects faced as compared to older ones.
Indian Industry leaders are elated that the Congress government has returned to power. Here is a wishlist of Cabinet ministers.
Prime Minister Narendra Modi's goal of making India a high-income economy by 2047 is unlikely to be achieved, but the country should become an upper middle-income nation by then, Financial Times chief economics commentator Martin Wolf said on Friday. Wolf further said that India would also become a superpower by 2047. "India wishes to become a high-income country by 2047.
According to principal advisor with the Planning Commission and former chief statistician, Pronob Sen, there were 40-45 million more people in the age group of 15-59 between 2004-05 and 2009-10. The unemployment rate has correspondingly fallen from 2.3 per cent to 2 per cent of the labour force.
Some reactions to RBI's monetary policy announced on Monday.
His outburst has to rank among the most bizarre episodes of two arms of the government fighting in public.
Planning Commission Deputy Chairman Montek Singh Ahluwalia says Commerce Minister Kamal Nath had warned him in advance that he was going to criticise the apex planning body in public.
Planning Commission deputy chairman Montek Singh Ahluwalia and former Planning Commission member Kirit S Parikh, who heads an expert committee on fuel pricing, may join the deliberations, official sources said.
The Cabinet's decision to auction 3G spectrum in January next year will give a fillip to investments in port, power, telecom and roads in the next 12-18 months, deputy Planning Commission chairman Montek Singh Ahluwalia said.
The commission had earlier projected a 2.5 per cent fall in the farm output due to weak monsoon but expects the drop to be less than that.
The government, which had set a reserve price of Rs 14,000 crore for pan-India spectrum broadly drawing from the basis used by Comptroller and Auditor General in calculating the loss in the previous sale in 2008, managed a meagre Rs 9,407.64 crore (Rs 94.07 billion) in the auction that lasted barely two days.
The Planning Commission may suggest an increase in education fees for higher education to Finance Minister P Chidambaram this year. Do you think this hike is justified?
Civil Aviation Minister Praful Patel on Tuesday lashed out at the Planning Commission, holding it responsible for the delay in the modernisation of Kolkata and Chennai airports.
The government is likely to raise the Gross Budgetary Support (GBS)-- the amount of assistance provided by the Centre for Plan schemes-- by 15 per cent to Rs 2.60 lakh crore during 2010-11.
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.
Moreover, 'no-go' areas need not be excluded for mining activities for ever, Planning Commission deputy chairman Montek Singh Ahluwalia said.
The Planning Commission on Monday lowered the target for construction of roads under the NHDP scheme to 2,500 km for the current fiscal from 3,165 km in the previous year, which was not met by the road ministry.
Aviation Minister Praful Patel's outburst against Planning Commission Deputy Chairman Montek Singh Ahluwalia is perhaps not difficult to understand since most people think it was actually Patel who should have been keeping an eye on the delays at the Delhi airport.
A day before the announcement of the inflation data for August, the Planning Commission said that the figures would remain high but would start declining in subsequent months to reach a level of 6 per cent by December-end.
This is a 22 per cent hike compared to the funding the state received last year.
Planning Commission Deputy Chairman Montek Singh Ahluwalia has said agriculture growth in the country cannot double without the involvement of the corporate sector.
Planning Commission on Thursday said a desicion was expected shortlyon using foreign exchange reserves for infrastructure projects.
To defuse the crisis over appointment of 'foreign' experts in the Planning Commission, its Deputy Chairman Montek Singh Ahluwalia said he would meet Prime Minister Manmohan Singh and find a solution shortly.
West Bengal Chief Minister Mamata Banerjee on Tuesday faced protests over death of an SFI member from Left activists who also heckled her Finance Minister Amit Mitra outside the Planning Commission office in New Delhi.
The Planning Commission on Tuesday said investment in infrastructure will have to be about $350 billion in the next five years to propel overall growth of economy to over 8 per cent.
Prime Minister Manmohan Singh, who left for Washington on Saturday, is likely to take up with the US authorities the issue of video and cable piracy that has been causing huge losses to both American and Indian entertainment companies.
China is willing to encourage Chinese companies to invest in Indian industrial parks to produce personal computers, Internet equipments, cell phones and televisions.
Modernisation of agricultural marketing is important, says Montek Singh Ahluwalia
