Under attack over the Rs 32 per capita per day (in urban India and Rs 26 per day per person in rural areas) cut off for poverty line, the Planning Commission on Monday distanced itself from the controversial definition presented to the Supreme Court saying it did not represent its views.
"The world economic slowdown will not affect the medium term growth prospects," Planning Commission Deputy Chairman Montek Singh Ahluwalia said, while addressing the 'TIE Entrepreneurial Summit 2007' in New Delhi on Tuesday. The economy was likely to clock a growth rate of 8.5 to 9 per cent during the current financial year, he said, adding that the gross domestic product growth rate was expected to be 9 per cent during the next three years.
The term of the members of the Planning Commission is co-terminus with the Prime Minister and they would be submitting their resignations once the new government is formed after the ongoing general elections next month.
The Plan panel on Wednesday said it has appointed civil rights activist Binayak Sen, convicted for sedition, on the board of one of its steering committees to give input for 12th Plan (2012-17) on health related issues.
On Monday, Reserve Bank hiked the lending rates to banks by 2 per cent to 10.25 per cent.
The committee is expected to submit its report soon.
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 government plans to resurrect the ministry of disinvestment in a bid to raise resources by selling its shareholding in public sector companies.
The price rise measured in terms of Wholesale Price Index rose for the second straight month, to 5.79 per cent in July, on account of double digit rise in prices of food articles, mainly vegetables, including onion.
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.
A joint statement issued at the end of an India-Japan energy dialogue said both the countries would explore ways and means to further cooperation in the field of new and renewable energy sources.
Coinciding with the 3-day traders stir against the implementation of value added tax, the Mid-term Appraisal of the 10th plan has pointed to "serious design flaws" in the tax even as Planning Commission Deputy Chairman Montek Singh
Commerce Minister Anand Sharma on Wednesday sought to assure prospective American investors that India is a 'welcoming investment' destination where the climate is 'totally conducive' to such actions.
Both sides have already agreed on restructuring of the schemes and curtailing the subsidy bill, Ahluwalia told reporters after the meeting.
His interaction was webcast live on Twitter.
India's gross domestic product grew at a decade low of 5 per cent last fiscal.
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.
In its mid-quarter review of monetary policy, RBI on Wednesday kept all key interest rates unchanged notwithstanding persistent high inflationary pressure.
"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.
No other corporate house in India is in a better position than Tata group for the takeover of debt-laden airline Air India, former deputy chairman of erstwhile Planning Commission Montek Singh Ahluwalia said on Thursday. Tata Sons has emerged as the top bidder for the takeover of the state-run airline but the bid is yet to be approved by a group of ministers headed by Home Minister Amit Shah. "You can't have a better corporate, with a better position than the Tatas, we can hand it (state-run airline Air India) over," he said while replying to a question in a virtual event.
He said that land, a state subject, was a big destination of black money while reform in political funding was also important
The weapon carrying security personnel pushed journalists, who retaliated with more pushes and shoves.
Inflation rate fell to 0.27 per cent for the second week of March from 0.44 per cent for the week ended March 7. However, Planning Commission deputy chairman Montek Singh Ahluwalia said on Thursday the Indian economy is not heading towards deflation despite inflation nearing the zero-level in the past few weeks.
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.
Indian Industry leaders are elated that the Congress government has returned to power. Here is a wishlist of Cabinet ministers.
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.
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.
His outburst has to rank among the most bizarre episodes of two arms of the government fighting in public.
The 12th Plan document describes three average annual growth scenarios - 8%, 6-6.5% and 5-5.5 per cent.
He also indicated that the current position of the rupee is competitive against world currencies.
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?
Planning Commission Deputy Chairman Montek Singh Ahluwalia has said agriculture growth in the country cannot double without the involvement of the corporate sector.
Some reactions to RBI's monetary policy announced on Monday.
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.
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.
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.
Planning Commission on Thursday said a desicion was expected shortlyon using foreign exchange reserves for infrastructure projects.
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.
This was announced at the Indo-US Economic Cooperation conference held on Friday.
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