Indian economic growth had slowed down to 6.7 per cent during 2008-09 due to the impact of global financial crisis from average of 8.7 per cent in the previous five years.
They are of the view that calling the new institutes "IITs" would dilute the brand image of the existing premier institutes, which figure among the world's 100 best technology universities and are compared with the likes of MIT, California University and Berkeley. The seven IITs are located in Kharagpur, Mumbai, Chennai, Kanpur, Delhi, Guwahati and Roorkee.
Planning Commission Deputy Chairman Montek Singh Ahluwalia on Monday expressed confidence that in the years to come India could emerge as the fastest growing economy in the world, beating China as the nation has yet to achieve its full growth potential.
The summit in Korea, Ahluwalia pointed out, was the first to be held in a newly developed nation, as well as in Asia, home to many emerging nations. With the financial crisis that necessitated the meeting of minds in 2008 a thing of the past, Korea is keen to bring development to the forefront.
This rampant form of piracy has caused huge losses to both American and Indian entertainment companies.
Prime Minister Manmohan Singh, who left for Washington on Saturday, is likely to take up with the US authorities the issue of video and cable piracy that has been causing huge losses to both American and Indian entertainment companies.
The government is likely to raise the Gross Budgetary Support (GBS)-- the amount of assistance provided by the Centre for Plan schemes-- by 15 per cent to Rs 2.60 lakh crore during 2010-11.
Setting at rest speculation about the possibility of tax cuts to boost growth, the Planning Commission Deputy Chairman Montek Singh Ahluwalia on Tuesday said the government will not change the tax structure during the current fiscal, ending March 31.
Montek Singh Ahluwalia appealed to the Indian Diaspora at the PBD gathering to support health care ventures of the Indian government, for people below the poverty line.
"The full impact of the Dubai debt crisis is yet to be assessed, but there is no need to press the panic button," said Pranab Mukherjee.
A day before the announcement of the inflation data for August, the Planning Commission said that the figures would remain high but would start declining in subsequent months to reach a level of 6 per cent by December-end.
Planning Commission deputy chairperson Montek Singh Ahluwalia talks about reorganising central loans to the states, in the second of a two-part interview with Mamata Singh.
The ideal way will be to sterilise the inflow, build reserves and push liquidity into system.
Batting for the Reserve Bank of India and the finance ministry, the Planning Commission on Friday said concessions to special economic zones should be at par with those provided to infrastructure projects.\n\n
The interest of the poor can be protected by providing targeted subsidy, Planning Commission's Deputy Chairman Montek Singh Ahluwalia said, adding that increased energy cost would have to be shared by the consumers as the burden is currently being largely borne by public sector oil companies.
Overall inflation, which has been in double digits for the last five months, was 10.55 per cent in June.
India can now, if required, borrow up to $30 billion a year, up from $6 billion, from the International Monetary Fund for a three-month period which can be renewed twice more in 3-month cycles.
More often than not unskilled workers end up getting a raw deal.
The global financial meltdown has pulled down India's economic growth to 6.7 per cent during 2008-09 from about 9 per cent a year ago. During the current fiscal, as per the Planning Commission estimates, growth rate may fall to 6.3 per cent.
The commission had earlier projected a 2.5 per cent fall in the farm output due to weak monsoon but expects the drop to be less than that.
The Planning Commission on Monday said the fiscal deficit, the difference between total revenue and expenditure, will not exceed the budgetary estimate of 6.8 per cent of gross domestic product (GDP).
The government may raise the number of job days under the NREGA scheme to compensate rural households for loss of income due to a poor monsoon in large part of the country.
This is a 22 per cent hike compared to the funding the state received last year.
Hailing the Budget 2009-10 as "growth oriented", Planning Commission Deputy Chairman Montek Singh Ahluwalia on Monday said there would be no need for another stimulus in the current fiscal.
This failure of basic short-term policy is surprising, given the star power that this government brings to its economic management.
Planning Commission Deputy Chairman Montek Singh Ahluwalia on Wednesday called for sweeping reforms in education and health to make the surging economic growth truly inclusive.
While Lalu's chances of retaining Cabinet berth seems remote, experts believe there may not be too many new faces as far as important ministries are concerned.
Private partners like GMR and GVR, humiliated from time to time, have good reason to shrug their shoulders and argue that matters are outside their control.
The Planning Commission on said food prices will come down in the next two months easing the overall inflation, which is currently at over 8.5 per cent.
Civil Aviation Minister Praful Patel on Tuesday lashed out at the Planning Commission, holding it responsible for the delay in the modernisation of Kolkata and Chennai airports.
India is expected to record a gross domestic product (GDP) growth rate of 6 per cent this fiscal, which will improve further in the next fiscal with likely recovery in the global economy, Planning Commission Deputy Chairman Montek Singh Ahluwalia said.
The Planning Commission said on Tuesday the current upswing in the economy, which is showing signs of overheating, was unlikely to continue in the long term, while attributing pressure on prices to high growth rate.
The Planning Commission said on Tuesday that emphasis on inclusiveness by the government should not be misconstrued as dilution of the overall growth agenda and the benefits should percolate to all strata of the society.
There is no doubt that economic growth has picked up. It's also true that inflation has edged up. We had said at the beginning that sometime in the course of the year we would begin to slowly wind it down and what has happened is on course for that decision but exactly what, it's too early to say, says Montek Singh Ahluwalia.
India has said it would exercise caution in embracing fuller rupee float since the gradual approach towards liberalising the foreign exchange regime has paid in the past.
The Planning Commission does not foresee any significant disruption of state finances on account of increase in salaries of state government employees.
The Planning Commission may suggest an increase in education fees for higher education to Finance Minister P Chidambaram this year. Do you think this hike is justified?
