FDI in retail would have a limited impact on small retailers, Chairman of PM's Economic Advisory Council C Rangarajan said.
Prime Minister Dr Manmohan Singh has convened a meeting of senior ministers on Tuesday to discuss the recommendations of the National Advisory Council on the Food Security Bill.
Technology can play an important role in almost every sector of the economy in enhancing productivity and production.
He said the government would not go in for providing stimulus across the board and that only specific sectors would be considered for the measure.
High gold imports had contributed to high CAD which stood at 5.4 per cent in the second half of 2012-13 and was creating pressure on the rupee.
Are short-term compulsions increasing long-term instability?
The Reserve Bank of India has been actively doing OMOs or buyback of government bonds to manage liquidity in the system over the last few months.
The dismal factory output growth was on the back of a poor performance by manufacturing, mining and capital goods segments.
Prime Minister Manmohan Singh will be briefed on the state of the economy and the growth outlook by his economic advisory council on Friday.
The luncheon at his residence was attended by Planning Commission Deputy Chairman Montek Ahluwalia, Chairman of PM's Economic Advisory Council C Rangarajan, former RBI Governor Bimal Jalan, Foreign Secretary Shiv Shanker Menon and officials of the Prime Minister's Office.
The former Governor of RBI said India would see 'definite signs of recovery' in the second half of 2009-10. On growth forecast, he said this fiscal will see a rate of 6 and 6.5 per cent, but it will be higher next fiscal.
The gross domestic product grew by 6.1 per cent in the first quarter of 2009-10 and the year may end with 6.5 per cent.
Last month, the government approved the proposal of doubling gas price from RIL's KG basin from $4.2 mmbtu to $8.4 mmbtu from April 1, 2014.
Data earlier on Thursday showed the annual consumer price inflation rose to a higher-than-expected 11.24 per cent in November from 10.17 per cent in October.
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The food inflation in July softened to 11.24 per cent from 11.84 per cent in the previous month, according to the official data released on Monday.
On the reduction in the SLR ratio, he said it was a signal from the point of view of long-term reforms.
Earlier in his address, he said with over 500 million bank accounts in the country, it is estimated that the Indian banking system produces over one billion transactions a day.
The global rating agency expects the economy to pick up in the next two financial years.
The Reserve Bank in its first mid-quarter policy review on Monday kept the key interest rates unchanged because of elevated food inflation, rupee depreciation and uncertainty over foreign fund inflows.
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The stock market responded to his speech by going up by over two per cent; the rupee also gained in strength, by about 1.45 per cent, against the dollar.
The state government has formed two committees under the chief secretary and the cane commissioner on the matter.
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