Already Puducherry owed to the Centre as much as Rs 4040 crore (Rs 40.4 billion) over the years as loan and interest.
Finance Secretary Ashok Chawla, in an impromptu chat with reporters, sided with Sebi, while Planning Commission Deputy Chairman Montek Singh Ahluwalia cited the spat to make a case for setting up a Financial Development and Stability Council (FSDC).
The reaction from Planning Commission Deputy Chairman Montek Singh Ahluwalia comes a day after the Central Bureau of Investigation arrested LIC Housing Finance CEO Ramachandran Nair and seven other senior bankers on charges of corruption and criminal conspiracy.
He said while bringing in investments, it is also necessary to manage the high current account deficit.
Those who have been following developments in the past few years know that Wal-Mart alone must have spent millions of dollars in India for lobbying with our government to open up retail sector for FDI.
India may end the financial year with a seven per cent GDP growth rate, as the economic deceleration is expected to continue in the third quarter, said Montek Singh Ahluwalia, deputy chairman of the Planning Commission.
Planning Commission's Deputy Chairman Montek Singh Ahluwalia strongly favours need for a special package and help for poor Bihar in place of special category state status repeatedly demanded by chief minister Nitish Kumar.
One of the names proposed by the dailies is India's Planning Commission Deputy Chairman, Montek Singh Ahluwalia.
Planning Commission on Friday said there is no case for providing stimulus to the industry to arrest moderating growth as the fiscal deficit is high and may exceed the Budget estimate of 4.6 per cent by about one percentage point.
Dominique Strauss-Kahn, the head of the International Monetary Fund, who has been charged with a criminal sex act and is under arrest in the United States, has resigned from his position, leaving the global financial body to hunt for a new chief.
Addressing a high level debate on 'State of the World Economy and Finance in 2012' at the United Nations General Assembly in United Nations on Thursday, Ahluwalia said the Indian economy grew at an average rate of 9 per cent in the five years prior to the financial crisis of 2008.
What some of our leaders were up to on the weekend.
Mukherjee said uncertainty was still there on oil prices front due to unrest in West Asia and North Africa.
Planning Commission on Tuesday endorsed RBI's hawkish policy of hiking key rates by half a percentage point saying this would contain inflation.
Both houses of Parliament were adjourned for the day on Friday after an uproar over the violence in Manipur.
A Group of Ministers headed by Finance Minister Pranab Mukhejree is likely to meet on Monday to vet London-listed mining group Vedanta Resources' $ 9.6 billion acquisition of Cairn India.
Irked over the notice sent to him by the National Commission for Women over his remarks on rape, Samajwadi Party supremo Mulayam Singh Yadav on Monday accused the NCW of insulting him.
According to Planning Commission Deputy Chairman Montek Singh Ahluwalia, more than the anticipated growth in the farm sector will make up for the shortfall in the industrial output.
Although India's private health insurance industry's business volumes have grown by over 35 per cent a year in the last few years, a staggering 85 per cent of the population remains uninsured, according to industry estimates.
"This year, at the Planning Commission, we expect growth rate will be around 8 per cent. We are not expecting 9 per cent in the year 2011-12," Ahluwalia said while speaking at the convocation ceremony at Vijna Jyothy Institute of Management.
Students of Kolkata's Presidency College on Saturday hurled eggs and tomatoes at Planning Commission Deputy Chairman Montek Singh Ahluwalia to protest price rise while he was leaving a seminar, but missed their target.Eyewitnesses said that student demonstrators belonging to the Students Federation of India, affiliated to the Communist Party of India - Marxist, threw eggs and tomatoes and waved black flags at Ahluwalia as he was leaving a UGC-sponsored national seminar.
Former managing director of McKinsey & Co, Rajat Gupta, has stepped down as chairperson of the Public Health Foundation of India (PHFI). Gupta's resignation comes days before the PHFI executive was to discuss his exit.
Ahluwalia said India is also interested in stepping up cooperation with China on railways development.
"I don't think that it is government's view that the present inflation cannot be brought under control without FDI in multi-brand retail. We can bring inflation under control," Planning Commission Deputy Chairman Montek Singh Ahluwalia said.
The Union finance ministry has endorsed the views of Gajendra Haldea, infrastructure advisor to the deputy chairman of the Planning Commission, who had objected to recent changes in bidding norms by the National Highways Authority of India.
Enthused by the prospects of good monsoon, the Planning Commission on Tuesday said the double digits inflation would decline by December, and sounded optimism that economic growth would exceed 8.5 per cent this fiscal.
His outburst has to rank among the most bizarre episodes of two arms of the government fighting in public.
The Bharatiya Janata Party-led NDA and Left Parties, including the CPI-M and CPI, have organised a 'Bharat Bandh' on Monday to protest against rising inflation and the hike in prices of petrol, diesel and cooking gas.
Planning Commission Deputy Chairman Montek Singh Ahluwalia on Wednesday expressed concerns over rising crude prices which soared to two-year high of $ 102 a barrel in Asian markets.
India will set up a high-level committee to identify areas for expanding economic ties with the United States, from where it expects an estimated investment of $250-300 billion in infrastructure space.
Commerce Minister Anand Sharma and Planning Commission Deputy chairman Montek Singh Ahluwalia will also participate in the India-US Business CEOs Forum Meeting.
Inflation, as measured by the Wholesale Price Index, had stood at 7.47 per cent in December 2011.
Besides Mukherjee and Deora, the EGoM would have power minister Sushilkumar Shinde, fertiliser minister M K Alagiri, law minister Veerappa Moily and Planning Commission deputy chairman Montek Singh Ahluwalia.
Montek also said he did not consider the fall of about two per cent or so in Asian markets, including India this morning, as severe.
Under the Mahatma Gandhi National Rural Employment Guarantee Act, a worker is entitled to Rs 100 per day for minimum of 100 days in a year.
In an interview with Karan Thapar on the CNN-IBN channel's Devil's Advocate programme, Planning Commission Deputy Chairman Montek Singh Ahluwalia explains why he faults the controversial report of the Comptroller and Auditor General on 2G telecom spectrum allocation. Edited excerpts:
At the annual Pravasi Bharatiya Divas, organised by the government ostensibly to celebrate the country's connection with the 27-million-strong Indian diaspora living in 150 countries, Mr Ahluwalia said last Sunday that India was reaching out to NRIs not for their money, but because it valued the long, socio-cultural footprint all Indians living in India and abroad shared.
"Yes it is true that milk and vegetable prices are high. You know some of this is a reflection of economic prosperity and purchasing power," Commission Deputy Chairman Montek Singh Ahluwalia said.
Concerned over rising food prices, planning commission deputy chairman Montek Singh Ahluwalia on Monday pitched for increasing supplies through imports and better use of the public distribution system.
The Planning Commission has pitched for linking of domestic fuel prices with those in the international market saying it is necessary for country's global "economic reputation".
