Petroleum ministry rejects conclusions of two reports ahead of EGoM.
RBI's current Deputy Governor Urjit Patel got 3-year extension in January.
The Prime Minister's Economic Advisory Council on Wednesday favoured more income tax sops as also a revision in indirect tax rates on consumer durables in Budget 2008-09 to fire up the economy.
Reliance Industries has made drastic changes in gas supply contracts that will jack up its KG-D6 gas price by 10 per cent over and above the new rate of $8.3 coming into effect from next month.
Pointing out that inflation rate is a little beyond comfort zone, the Prime Minister's Economic Advisory Council said the current situation is not favourable for a cut in interest rates. The inflation rate stood at 5.11 per cent for the week ended March 1. For the second week in a row that the rate was over 5%. The RBI aims to limit average rate of inflation for the current fiscal at 5 per cent. When the inflation rate is rising, it is always critical to bring down the rates.
The paper projects that there will be zero unemployment in 2009 if the economy grows at 9.1 per cent and the labour force continues to grow at 2.93 per cent.
The Prime Minister's Economic Advisory Council has scaled down its growth projection for the Indian economy for 2007-08 to 8.9 per cent from 9 per cent on account of slow expansion in manufacturing and energy generation. Dr C Rangarajan, head of the group of economists released the review of the economy of 2007-08 and said that the economic growth of India would be hovering around 8.5 per cent during 2008-09.
A top Finance Ministry source, however, said no discussion has taken place in the government so far on whether to extend Rajan's tenure or not.
The panel, headed by former RBI governor C Rangarajan, in its economic outlook for 2007-08 also projected inflation to remain within 4 per cent.
The Cabinet Committee on Economic Affairs may this week decide to price all domestically produced natural gas as per a formula suggested by a panel headed by Prime Minister's economic advisor C Rangarajan.
A study has singled out poverty and growth as the biggest hurdle facing Kashmir.
Tamil star Suriya's 7aum Arivu was about a virus from China sent to Chennai to wreak havoc while Kaappan was about a locust attack the hero prevents in time -- both films in a sense foresaw what was to come, observes N Sathiya Moorthy.
The Prime Minister's Economic Advisory Council has approved Reliance Industries' 4.33 dollars per mBtu price of gas from KG-D6 fields, saying it was in line with industry practices.
Many PSBs are in the process of rationalisation of ATMs
A talented Central Zone team led by Piyush Chawla is aiming to come out firing all cylinders when it squares off with an equally combative South Zone side in the final of the Duleep Trophy, starting in New Delhi, on Wednesday.
However, the prime minister has told confidants that he was unable to do justice to the foreign affairs portfolio and admitted the need for a full-time foreign minister.
The Oil Ministry has proposed raising natural gas prices by at least 60 per cent, a move that will result in rise in urea as well as power costs.
Debroy is expected to have a role and responsibility similar to the erstwhile chairman of the Prime Minister's Economic Advisory Council
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.
Prime Minister Manmohan Singh may convene a meeting of Finance Minister P Chidambaram and Oil Minister Murli Deora within a week to discuss fuel pricing and taxation regime on the sensitive products.
The GDP growth for 2013-14 has been lowered to 5.3%, from 6.4% in April.
The Finance Commission on Monday suggested a re-look into the issue of decentralisation in view of the lack of transfer of resources to local bodies, but said the exercise should not "rob" the autonomy of local governments.
Prime Minister's Economic Advisory Council (PMEAC) Chairman C Rangarajan may have found the Reserve Bank of India (RBI)'s inflation projections on the higher side, but independent experts agree with the central bank and expect both wholesale and retail prices to remain high.
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.
The reasons behind Australia's dominance: Readers' response.
C Rangarajan, chairman, 12th Finance Commission, will head the committee, J&K Finance Minister Muzaffar Hussain Baig said in Srinagar.
The Twelfth Finance Commission chairman C Rangarajan said on Tuesday that he was in favour of an early implementation of the value added tax regime.
The 12th Finance Commission on Monday held a meeting with leading economists and economic administrators in Chennai to elicit their views on current issues concerning inter-governmental resource transfers.\n\n\n\n
Speaker K Kalimuthu issued arrest warrants against editor N Ravi, executive editor Malini Parthasarthy, publisher S Rangarajan, chief of bureau V Jayant and special correspondent Radha Venkatesan.
The government on Tuesday extended the term of Twelfth Finance Commission by five months till December 31 this year.
The Twelfth Finance Commission is ready with its report and has sought time from the President to submit the recommendations, its chairman C Rangarajan said on Saturday.
Skipper Abhinav Mukund and Baba Aparajith smashed hundreds as South Zone took a firm grip of the Duleep trophy semi-final against Central Zone by reaching 479/9 on the third and penultimate day of the match in Chennai on Saturday.
