The prime minister's office will play the principal role in decision-making.
Since 2004, Montek Singh Ahluwalia, one of the commission's longest serving deputy chairmen, has been trying to mould it to fit into the new economic order, without much to show for his efforts.
Earlier this week, the ministry had come out with a clarification, saying domestic gas producers had to stick to the earlier price of $4.2 a unit until a further notification from the new government.
In the January, 2013 Cabinet note on revision of prices of all domestically produced natural gas, the ministry had proposed immediate implementation of the formula suggested by a panel, headed by Prime Minister's Economic Advisory Council Chairman C Rangarajan, for all producers except in cases where the current rate is valid for a certain period.
Concerned by GDP slowdown and unrealistic tax targets, the economists urged Finance Minister Nirmala Sitharaman to implement long-term structural steps like land and labour reforms. Warning against any off-Budget financing the economists said the government should prepare a statement of intent for its social, rural and welfare sector expenditure.
An official said that people in the government were aware of the benefits as well as the drawbacks of issuing overseas sovereign bonds, and there will be consultations with all stakeholders.
'We are looking at the Budget with the hope that it will address all issues even at the cost of exceeding the fiscal deficit target.'
Most economists were of the view that the NSSO should release the data, as any move to withhold it will dent the image of country's statistical system.
Gold is the first product for options trading that markets regulator Sebi has allowed after 14 years of commodity exchanges in the country.
Road developers hoping for early relief from the government will have to wait longer.
Rangarajan, who was answering questions on onion prices touching Rs 100 per kg in some cities, said the impact on inflation would not last long.
Govt notification on $8.4 a unit price likely by month-end
Government has put on auction the gas discovery area it snatched from Reliance Industries in KG-D6 block and the field that Cairn India is seeking to regain around its Rajasthan block.
The Reserve Bank on Friday said the economy would grow by 5 to 5.5 per cent in the current fiscal, pinning its hopes on good farm output and improved exports.
The size of the GDP in the second quarter of 2018-19 is estimated at Rs 33.98 lakh crore, as against Rs 31.72 lakh crore a year ago
According to state government sources, not only did the governor insert some corrections, but he also initialled the final draft after those corrections had been made, reveals N Sathiya Moorthy.
''Even without major reforms, with a business as usual scenario, and with current inflation trends, we should be clocking around 11 to 12 per cent nominal growth.' 'That is not happening and is a source of worry,' Rathin Roy tells Arup Roychoudhury.
The Prime Minister's Office has clarified that the total sanctioned strength of the PMO has been around 525 in the period 2011-14. As against this, the actual strength of the PMO in the years 2011, 2012 and 2013 was in the range of 407 to 411. The number has now declined to 385.
With certain quarters demanding privatisation of public sector banks in the aftermath of the alleged fraud at Punjab National Bank (PNB), Economic Advisory Council to the Prime Minister chairman Bibek Debroy tells Sanjeeb Mukherjee, Ishan Bakshi and Indivjal Dhasmana that reducing government equity even to zero would not mean giving up of government control over these banks.
The NDA government was initially reticent about fleshing out its economic strategy for the future. But now that it has taken enough bold initiatives on the economic front it must have the confidence to tell us more about its approach going forward, says Abheek Barua.
Export growth picked up mainly owing to rising global crude prices, which pushed up processed petroleum exports by nearly 40 per cent, apart from a broad-based improvement in exports of major foreign exchange earners such as engineering goods and gems and jewellery.
Jean Dreze, a noted economist who was was a member of Sonia Gandhi led National Advisory Council, was dropped from the list of speakers at the Delhi Economics Conclave organised by the finance ministry and inaugurated by Prime Minister Narendra Modi.
If the EC decides to put on hold a gas price revision for RIL, it would set a precedent for pricing decisions of the government and policy decisions taken but undergoing procedural delays.
'The economy may not improve unless you admit there are some problems.'
'I may not indulge in chest thumping to express my patriotism every day.' 'I may be cynical about many things happening in our country.' 'I may not roar Bharat Mata Ki Jai at the top of my voice. But I still love my country, just as one loves one's parents with all their weaknesses.' 'Does that make me any less of a patriot?' asks Shobha Warrier.
This has spelt trouble for the mills. Most of them are unable to pay the farmers.
Many BJP leaders are of the view that most key members of the previous Cabinet could be retained.
However, the number of confirmed cases reported by states rose by over 500 to cross 3,000 with at least 90 dead. While Maharashtra, Telangana and Delhi disclosed several new cases of the deadly virus infection, government officials said the numbers have risen in last few days mostly due to one event -- referring to the Tablighi Jamaat's religious gathering in the national capital attended by thousands of people last month.
Work on a dozen decisions to start by next week.
Nobody is clear what 'minimum government maximum governance' means.
Duvvuri Subbarao recounts how his tensions with P Chidambaram and Pranab Mukherjee, then finance ministers, over monetary policy spilled over into other issues in the central bank in this excerpt from Who Moved My Interest Rate?, his memoir of his term as Reserve Bank of India governor.
Though the Union HRD ministry has vehemently denied that Shevgaonkar resigned under government pressure, some allege that this is yet another example of the government exercising its influence over educational institutions
It is significant that the PM's appeal to invest in India comes at a time when the global economy is facing a difficult phase
India's national security strategy needs to be revised periodically since the global and regional geopolitical situation is dynamic, points out Commodore Venugopal Menon (retd).
'India's economy is growing faster compared to the developed economies of the world.' 'More importantly, it is growing faster compared to most of the developing economies.' 'The monsoon is not the only thing that drives the rural economy and certainly not the national economy.' 'It is too simplistic to reduce everything to the monsoon.'
With wages rapidly rising in China, all is still not lost. Wage costs in India are significantly lower and this fact could still help us turn the tide in our favour.
How will the return of a majority government at the Centre, the new India-US friendship and the Mangalyaan triumph change India?
The government will announce minimum support prices for kharif.
'If you look at the entire protest on April 2, you will find it was not only about the Atrocities Act dilution, but the accumulated anger of the Dalit community against the BJP over the last four years.'
Creating many more half-decent jobs for the 10 million plus new entrants to the labour force each year must surely constitute the primary development challenge for India today.
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