The Planning Commission on Tuesday warned that sector-specific regulators could become 'tension points' between them and the ministries and said there should be a common regulator for transport and energy sectors.
In a note, titled 'IIFCL financing for PPP projects,' sent to Prime Minister Manmohan Singh, Ahluwalia wrote, 'It was pointed out in the meeting that the term of the current CMD (chairman and managing director) of IIFCL ends on March 10. The FS (finance secretary) had indicated that the term can be extended. Action on this front should be expedited to avoid loss of momentum.'
With industrial production contracting by 0.4 per cent in October, for the first time in 15 years, and the exports declining by over 12 per cent during the month, the government came out with a stimulus package on December 7 to spur growth and help the industry combat the impact of global financial meltdown. As part of the stimulus package, the government cut excise duty by 4 per cent across the board, except on petroleum products.
Population growth rate would be 1.5 per cent during the period 2007-12. "The next 10 years, India will register four major changes. The economic growth will accelerate, the technology will also grow and domestic industry will experience major liberalisation," Ahluwalia said after inaugurating the 22nd Indian Engineering Congress in Udaipur.
He rejected the recommendation of the report that "major emitters" in developing countries should aim at an emission trajectory that peaks in 2020 and leads to a 20 per cent cut by 2050.
This is the message of the latest Human Development report, 2007-2008, which was released on Tuesday by Planning Commission Deputy Chairman Montek Singh Ahluwalia in New Delhi. The global release was in Brazil.
The impact of stimulus measures was evident as manufacturing grew by 10.2 per cent, electricity by 10.6 per cent in August.
The Planning Commission sees stronger economic expansion in the second half which could push up the growth rate for the current fiscal to beyond 6.3 per cent projected earlier by the panel.
"Second quarter will be worse (than 6.1 per cent growth in Q1) and may be Q3 also," Planning Commission Deputy Chairman Montek Singh Ahluwalia said today after the full plan panel meeting. However, he said the economic growth will rebound in the fourth quarter to enable the economy to clock 6.3 per cent for the entire fiscal.
Strongly favouring a hike in power and water user charges, Planning Commission Deputy Chairman Montek Singh Ahluwalia on Thursday
The Planning Commission on Tuesday projected a 8.5-9 per cent economic growth for this fiscal despite a slowdown in industrial growth in July.
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.
Planning Commission on Thursday said a desicion was expected shortlyon using foreign exchange reserves for infrastructure projects.
With the five-year term of Reserve Bank of India Governor Y V Reddy coming to an end soon, names of his deputy Rakesh Mohan and Planning Commission Deputy Chairman Montek Singh Ahluwalia are emerging as potential successors, a media report said in London.
Planning Commission Deputy Chairman Montek Singh Ahluwalia Thursday said there is no reason why India, despite the current global financial turmoil, could not get back to earlier high growth path if it can step up domestic investment demands.
Planning Commission Deputy Chairman Montek Singh Ahluwalia Thursday said there is no reason why India, despite the current global financial turmoil, could not get back to earlier high growth path if it can step up domestic investment demands.
A joint statement issued at the end of an India-Japan energy dialogue said both the countries would explore ways and means to further cooperation in the field of new and renewable energy sources.
With economic conditions turning better compared to that three months ago, the Planning Commission on Monday said economy should record at least 6.7 per cent growth rate this fiscal, the same as was witnessed in 2008-09.
The amount involved is just 3.6 per cent of our forex reserves and the gains to be made are huge -- not to try the idea would be foolhardy.
The Indian economy is expected to grow at least 7 per cent in the next financial year on the back of the two stimulus packages given by the government, but in the immediate-term there would be some pain and a rise in unemployment levels, Deputy Chairman of the Planning Commission, Montek Singh Ahluwalia said.
India is fielding a 100-member team, led by Commerce Minister Kamal Nath and Planning Commission Deputy Chairman Montek Singh Ahluwalia. The duo will address a number of India-centric sessions on economic reforms.
Union Minister of Commerce and Industries Kamal Nath, would lead a high powered team to Davos in Switzerland sources in the government of India said in an informal chat with rediff.com.
Chief Minister Vasundhara Raje claimed the deputy chairperson of planning commission Montek Singh Ahluwalia was very pleased with the performance of the state.
Planning Commission Deputy Chairman Montek Singh Ahluwalia today said the fiscal stimulus package unveiled by the government was "adequate" and the next package should aim at creating productive investments in infrastructure.
"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.
Planning Commission Deputy Chairman Montek Singh Ahluwalia on Thursday said that he favoured a hike in the fuel prices to offset the increase in international crude prices. "The only viable strategy is to pass on the subsidy (oil) burden to the consumers, while providing targeted subsidy to the needy. And if we do not do it, investments in social sectors will be affected," he said.
Planning Commission Deputy Chairman Montek Singh Ahluwalia said big investments and increase in agriculture output will boost Indian economy.
India and US have launched a new bilateral dialogue on energy, which envisages setting up working groups focussing on, among other things, clean coal technology.
The contract is characterised by a minimum revenue guarantee and a cap on the firm's revenues.
Favouring independent regulators for railways and road sector, Planning Commission deputy chairman Montek Singh Ahluwalia on Friday stressed on the need for proper policy framework defining the role of these monitors.
The Planning Commission on Thursday said the surge in global oil prices should be passed on to customers, but favoured having some provisions to safeguard the interests of vulnerable sections of the society.
