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.
It may be recalled that recently differences flared up between the Planning Commission and the road transport ministry after the latter's minister Kamal Nath questioned the quality of reports produced by the Plan panel.
Russia's state-owned oil firm Rosneft has agreed to supply up to 500,000 barrels per day (bpd) of crude oil to Indian upstream oil and gas major Reliance Industries (RIL) in the largest-ever energy deal between the two countries, Reuters reported on Thursday. The 10-year agreement amounts to 0.5 per cent of global oil supply and is valued at roughly $13 billion per year at current prices, it said.
The commission in its recent assessment of the economy also expects economic growth to go up to nine per cent in 2011-12, and further to 10 per cent in 2014-15.
Departing from convention, the Planning Commission has sent the draft Approach Paper of the 11th Five Year Plan to Prime Minister Manmohan Singh first for approval.
Besides Parikh, Singh sent letters of appreciation to V L Chopra, B Mungekar and Anwarul Hoda indicating that they may not find a place in the reconstituted body.
In July, the Planning Commission said that the number of people living below poverty line has come down both in rural as well as urban areas.
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.
As Chief Minister Arvind Kejriwal pitches for early assembly polls in Delhi, experts on Sunday said the city government may have to write to the Election Commission giving reasons behind the demand. The term of the Delhi assembly ends on February 23 next year and the polls are expected to be held sometime early February.
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.
The Planning Commission in its draft approach paper to the 11th five year plan would stress on doubling agricultural growth and bridging regional imablances among other things.
Seeking the cooperation of States in dealing with Left-wing extremism, Prime Minister Manmohan Singh on Saturday asked the Planning Commission to design a holistic development programme for Naxal-affected areas.
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.
Steps to raise funds could include an across-the-board increase in railway fares, senior officials said.
The SC questioned the Delhi government over delay in implementation of stricter anti-pollution measures under GRAP-4, and said it will not allow scaling down of the preventive measures without its prior permission.
'It is notable how humble he was and didn't want anything different just because he was a Tata.'
'Amit Shah had promised Ajit Pawar and Praful Patel that even if there were only one third of MLAs with them, they would be given the party symbol.' 'He promised them that the Election Commission would not take a decision against them and that they would get the party name and symbol.'
Seven FIRs have been lodged in connection with the violence over a court-ordered survey of a Mughal-era mosque in Sambhal, Uttar Pradesh, naming Samajwadi Party MP Zia-ur-Rehman Barq and local SP MLA Iqbal Mehmood's son Sohail Iqbal as accused. Three people were killed and scores of others injured on Sunday as protesters opposing the survey of the Shahi Jama Masjid clashed with police. The district administration has imposed prohibitory orders and barred the entry of outsiders into Sambhal till November 30.
Amid mounting criticism of poverty reduction estimates by the Planning Commission, Congress leader Digvijay Singh on Saturday joined Union Minister Kapil Sibal in questioning the criteria for fixing poverty line.
Billionaire Gautam Adani's group has pulled out of a loan deal with a US agency to fund a port terminal in Sri Lanka, saying it will use its own resources for the project. In an exchange filing late on Tuesday, Adani Ports and Special Economic Zone Ltd (APSEZ) said the project "is on track for commissioning by early next year". "The project will be financed through the company's internal accruals and capital management plan," the firm said.
'For the next nine months to one year I would still be an active player.'
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.
For Yoginder, it is a release from pain. But for us, his friends, it is the loss of a warm and generous life companion, says Nitin Desai of his 50-year association with the eminent economist who passed into the ages on December 6, 2022.
Arun Maira who worked for 25 years with the Tata Group, remembers his early years with Ratan Tata.
Backing embattled Adani Group, rating agency CRISIL Ratings on Friday said the conglomerate has sufficient liquidity and operational cash flows to meet debt obligations and committed capex and that there has been no negative actions so far by lenders and investors following the US indictment of group founder chairman. The Adani Group, which has the flexibility to reduce certain discretionary capital expenditure (capex) depending on developments in financial markets and future capital availability, has a healthy Ebitda and cash balance that reduces its dependence on external debt to sustain operations, it said in a bulletin.
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.
The Planning Commission was better than the Niti Aayog as it used to take up the issues of the states with the ministries concerned.
Ahluwalia also stressed on the need for aligning country's energy prices with the global rates and said, "because the climate change is ultimately caused by the use of fossil fuels, one critical issue is that we must have correct energy prices.
Finance Commission has got new team who are committed to growth initiatives.
Many in the Planning Commission are not confident that making more capital available for the development of tribal areas affected by the Naxalite menace will effectively narrow down the trust deficit in these areas.
...'hum decide karenge kaun banega mukhyamantri. This decision is not to be taken in Mumbai.'
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.
Questioning the idea of market-determined prices for natural gas favoured by the petroleum ministry, the Planning Commission said on Tuesday that given the shortage of the fuel, the government had a role to play.
The BJP may win more seats in the February 5 assembly election, but not enough to trump AAP, notes Ramesh Menon.
Power generation decelerated 4.7 per cent year-on-year (Y-o-Y) to 155 billion units (BU) in August 2024. This was the first downtrend in many years, albeit on a high base - generation had increased 19 per cent Y-o-Y to 163 billion units (BU) in August 2023. The dip was partly due to excess rainfall, which pared cooling demand and also reduced need for irrigation.
Plans to increase price progressively.
Internal report, to be finalised in seven-10 days, may also suggest reduction in subsidies
Reliance Industries Ltd, India's most valuable company, is back on a growth path after six months of challenges as it posted better than expected earnings in the December quarter, brokerages said.
With the dissolution of former chief statistician Pronab Sen-led Standing Committee on Statistics (SCoS) by the Ministry of Statistics and Programme Implementation (MoSPI), the National Statistical Commission (NSC) has regained prominence as the primary statistical body to address issues regarding results, methodology and questionnaire, among others. A MoSPI official in an email informed the 16-member SCoS about the decision to dissolve it, citing that its work was "overlapping" with that of the Steering Committee for National Sample Surveys (NSS), which was set up in June this year.
