The DoP has moved a Cabinet note for the government to provide Rs 500 crore (Rs 5 billion) as initial capital to India Post towards starting a bank.
Planning Commission is understood to have apprised Prime Minister Atal Bihari Vajpayee about the adverse impact that the reduction in budgetary support in the coming fiscal will have on the economy.
The Modi govt is keen to replace the Planning Commission with a more powerful body.
'A lot will depend on the first Aayog and the power it derives.'
'Defence does not new 'planning commissions'; it needs an implementation commission.'
Conceding that the fiscal deficit could exceed the targeted 4.6 per cent of GDP for 2011-12 by up to one percentage point, Planning Commission Deputy Chairman Montek Singh Ahluwalia today said such a situation need not be a matter of concern.
The current account deficit is the difference between inflow and outflow of foreign exchange.
A 1970 Kerala-cadre IAS officer, Chandrasekhar has been revenue secretary in the Finance Ministry and ambassador and permanent representative at the World Trade Organisation.
The Planning Commission was better than the Niti Aayog as it used to take up the issues of the states with the ministries concerned.
Money to be used for the Rs 174,000-crore Bharat Nirman programme to develop rural infrastructure.
Even if the new body focuses on long-term planning, it is unlikely to do so through five-year Plans.
States' demand for 5 years and Constitutional provision ruled out
Prime Minister Narendra Modi and French President Emmanuel Macron have called for enhancing trade and investment ties between their countries and committed to further deepening their engagement in the Indo-Pacific. They discussed a full spectrum of bilateral relations, including key global and regional issues, and stressed the urgent need for reform in the United Nations Security Council. The leaders also underscored their commitment to ensuring the global AI sector can drive positive social, economic, and environmental outcomes.
The Budget shouldn't be stuck on fiscal numbers, the PMO apparently said.
The implementation of their recommendations means that an adequate apparatus to change this is at the disposal of the government.
The prime minister's economic advisory council was disbanded early on, and not reconstituted.
There were reports that some Commission officials were against the Rajan panel's suggestion to replace Gadgil- Mukherjee formula with Rajan Committee's Multi Dimensial Index for allocation funds to states.
While Congress-ruled states such as Kerala, Karnataka and Assam expressed fears about the sudden demise of the planning process and wondered what it would be replaced with, also worrying about the immediate implications on annual Plan outlays, Andhra Pradesh said it was considering setting up its own NITI Aayog.
NITI Aayog has a dual role of a monitor and advisor.
India must have a "contingency plan" in place to ring-fence the country's economy if the political showdown in the US leads to a default on its international monetary obligations, industry body Assocham said.
Survey likely to be tabled in July by the new government.
It would be a good idea to create independent oversight committees for each regulatory institution and indeed, even for their appellate bodies, says A K Bhattacharya.
Besides advancing the presentation of the Budget to perhaps the first week of January, , there are four new initiatives that could be rolled out from the next Budget, says A K Bhattacharya.
"For the Lok Sabha elections, we are making meticulous planning on all fronts including electronic voting machines (EVMs) and the voter verifiable paper audit trail (VVPAT)," he said.
Some experts had said the Budget did not have much in terms of big ideas.
80% of beneficiaries in 300 districts to be linked with direct benefits transfer
