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.
The economy, otherwise, is likely to expand by 6.3 per cent in the current fiscal, aided by stimulus packages and United Progressive Alliance's flagship programme National Rural Employment Guarantee Scheme, the report said. The report, prepared by Commission member Kirit Parikh views the measures announced in the interim budget as increase in public consumption and public investment.
Finance Commission has got new team who are committed to growth initiatives.
For the first time, the Government of India has launched an interactive website to seek feedback and suggestion on various issues that would contribute to the approach paper of the twelfth Plan (2012-17). Views on the Plan can also be expressed through a Facebook page.
'I am optimistic about the Budget because of the fiscal discipline the government has committed to.'
Plans to increase price progressively.
India needs to recognise and address challenges posed by its dependence on China for critical minerals and examine the implications of phasing down coal on bank balance sheets as it accelerates its green transition, the government's Economic Survey 2023-24 tabled in Parliament on Monday said. As part of its national plan to contribute to meeting the global goal of limiting the average temperature rise to 1.5 degrees Celsius, India has committed to reducing emissions by 45 per cent below 2005 levels by 2030, achieving 50 per cent cumulative electric installed capacity from non-fossil fuel-based energy resources, and creating a carbon sink of 2.5 to 3 gigatons of CO2 equivalent through additional forest and tree cover.
Reserve Bank Governor Shaktikanta Das on Tuesday said the fiscal-monetary coordination was at its best during the last six years even as he thanked Prime Minister Narendra Modi for giving the opportunity to head the monetary authority of the country. Das, in a series of posts on X, on his last day of his six-year term as RBI Governor, also thanked the Finance Minister, various stakeholders and his colleagues at the central bank.
'New Delhi has to make up its mind whether it wants to be a friend of the Bangladeshi people or they want to be a friend of a section of people, or one party or one leader'
'On September 29, 2023, three persons- all from areas outside Scotland-deliberately disrupted a planned interaction organised by the Gurudwara Committee for the community, the High Commissioner and the Consul General of India. This interaction was to discuss community and consular issues,' the High Commission of India, London said in a statement on Saturday.
A report by a senior official in the Planning Commission has said the National Highways Authority of India (NHAI) is heading towards bankruptcy, as its debt is set to increase five times in the next three years.
"We have recommended that at least 20 per cent of coal should be sold through e-auction," said Kirit Parikh, member (energy), Planning Commission. CIL currently puts for sale about 10 per cent of its annual production through online bidding. The National Coal Distribution Policy has already recommended increasing this quantum in a bid to ensure better price discovery of the fuel.
Planning Commission on Thursday said the target of eight per cent GDP growth in the 10th Five-year Plan is "fully achievable".
Oil and gold had accounted for 45 per cent of India's imports bill in 2012-13.
Putting the ongoing trial in the 26/11 case in Pakistan into further uncertainty, a judicial commission of that country, that was to record statements of key persons involved in Mumbai attack probe, failed to arrive on its scheduled visit to India on Thursday.
Punjab Chief Minister Bhagwant Mann has dismissed speculation about dissent within the Aam Aadmi Party's state unit, asserting that Congress leaders have a history of switching parties while AAP leaders remain dedicated. Mann's remarks came after Punjab Congress leader Partap Singh Bajwa claimed that over 30 AAP MLAs were in touch with his party. Mann, however, dismissed Bajwa's claims, stating that Congress has a culture of switching sides. The meeting follows AAP's defeat in the Delhi Assembly elections, sparking speculation about instability in its Punjab unit. Mann reiterated the unity within AAP, highlighting his government's achievements, including closing 17 toll plazas, stopping multiple pensions for MLAs, and implementing the Delhi model in Punjab. On the promise of financial assistance of Rs 1,000 to women, he said it will be provided in the coming days. Meanwhile, the BJP has also intensified its attack on the AAP, with BJP leader Manjinder Singh Sirsa taking a dig at Kejriwal for holding a meeting with Punjab MLAs despite AAP's defeat in Delhi.
The toll in the clashes between police and protesters opposing a court-ordered survey of a Mughal-era mosque in Sambhal, Uttar Pradesh, rose to four following the death of one more injured person, officials said on Monday.
'For the next nine months to one year I would still be an active player.'
Women-centric schemes could have proved a game-changer in both Maharashtra and Jharkhand, as both states witnessed a surge in women voters in the recently held assembly polls as well as return of the ruling alliances with a thumping majority.
Planning Commission has submitted a proposal to the finance ministry for raising Rs 70,000 crore
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.
'It is notable how humble he was and didn't want anything different just because he was a Tata.'
...'hum decide karenge kaun banega mukhyamantri. This decision is not to be taken in Mumbai.'
The Planning Commission was better than the Niti Aayog as it used to take up the issues of the states with the ministries concerned.
'After his warm and affectionate farewell speech, the Chief of Staff of the formation asked me, "So, now you are off to Coorg to look after your coffee estates?"' For the last time, in Army uniform and much to his surprise, I replied, "Sir, I am not from Kodagu.".'
Delhi faces a severe financial crunch and the deficit is largely due to numerous welfare schemes without adequate revenue flowing in. The success of welfare schemes and electoral promises will need careful financial planning and out of the box thinking to whip up additional revenue, notes Ramesh Menon.
"I could say 40,000 Mw is certainly achievable, 60,000 Mw is a possible target but 77,000 Mw looks a bit difficult," said Kirit Parikh, member (energy), Planning Commission. He attributed the apprehension over meeting the capacity addition target mainly to the non-achievement of financial closures of some projects. About 15 per cent -- 12,000 MW -- of the power generation target for the current Plan period has been achieved.
'He is convinced that this will help him in the next election.' 'But as we know, the best laid plans of mice and men can go awry.'
Arun Maira who worked for 25 years with the Tata Group, remembers his early years with Ratan Tata.
The situation is particularly bad in the public healthcare sector, a high-level group of the Commission said in a report last week. The public healthcare has been on a serious decline during the last two or three decades because of non-availability of medical and paramedical staff, diagnostic services and medicines. The situation in availability of specialist manpower in Community Health Centres is particularly bad as against the sanctioned posts.
Poverty in rural areas declined at a faster pace than in urban cities between 2004-05 and 2009-10, according to the Planning Commission estimates released on Monday.
Besides setting up 30 new Universities, the government has decided to universalise secondary education system in the country.
Extreme poverty in India declined by 38 million in 2021 to 167.49 million after a surge in the two preceding years, but remained above the 2018 level, the latest World Bank data shows. While for most countries poverty rose in 2020, when the Covid-19 pandemic hit the global economy, the data shows poverty shot up in India a year earlier in 2019 to 176.09 million from 151.79 million in 2018, the lowest pre-pandemic count. India's poverty rate at 11.9 per cent in 2021 also remained higher than the 2018 level of 11.09 per cent, though easing from 14.72 per cent in 2020.
Over the past eight months, a team of 80 people has been diligently working to harmonise operating procedures across four airlines run by the Tata group, as part of two mergers, revealed Campbell Wilson, Air India's chief executive officer (CEO), on Friday. The Tata group is consolidating its aviation business by merging four airlines into two: Air India and Vistara are merging to form a single full-service carrier, while AIX Connect and Air India Express are combining to create a unified low-cost carrier (as a subsidiary of Air India).
Reliance Industries Ltd on Friday reported a 9 per cent rise in its December quarter net profit as a planned maintenance-induced weakness in oil business earnings was offset by stability in retail and telecom verticals. The oil-to-retail-to-telecom conglomerate's consolidated net profit of Rs 17,265 crore, or Rs 25.52 per share, in October-December - the third quarter of the current 2023-24 fiscal - was 9.3 per cent higher than Rs 15,792 crore, or Rs 23.19 a share, earning a year back, according to a company statement. Quarter-on-quarter, the profit was lower when compared to Rs 17,394 crore earnings in the preceding three months ended September 30.
NCP (SP) chief Sharad Pawar has thrown his weight behind villagers in Solapur, Maharashtra, who are demanding a repoll using ballot papers after raising doubts about the accuracy of Electronic Voting Machines (EVMs). Pawar met with villagers in Markadwadi, where a police case was filed against over 200 people for attempting to conduct an unauthorized re-election. He expressed support for their concerns, claiming that the villagers were "the ones who thought of conducting polls using ballot papers." Pawar criticized the police action, calling it a restriction on the villagers' right to assemble and vowing to raise the issue with the Chief Minister, the state Chief Electoral Officer, the Prime Minister, and the Election Commission of India.
"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.
'Till the BJP does not understand Kejriwal they cannot win Delhi.'
