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.
Planning Commission Deputy Chairman Montek Singh Ahluwalia, on Wednesday allayed fears over significant hardening of interest rates in view of the high government borrowings, pegged at around Rs 4.5 lakh crore (Rs 4.5 trillion) this fiscal.
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.
In an interview to CFO Asia, a publication of The Economist Group, Montek Singh Ahluwalia said the general public was opposed to privatisation of state-owned enterprises although they feel that public sector was inefficient and corrupt.
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.
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.
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.
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.
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.
Strongly favouring a hike in power and water user charges, Planning Commission Deputy Chairman Montek Singh Ahluwalia on Thursday
The government will come out with details of a new scheme for farm sector projects by states in the next 4-6 weeks to implement the Rs 25,000 crore (Rs 250 billion) plan announced by Prime Minister Manmohan Singh last month.
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.
Planning Commission on Thursday said a desicion was expected shortlyon using foreign exchange reserves for infrastructure projects.
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.
In his book, Backstage: The Story Behind India's High Growth Years, Montek Singh Ahluwalia accepted the Act "increased the cost of land to financially unsustainable levels ... and made it easier for anyone who wants to stop a project to use the various consultative processes required under the law to delay matters".
Economic liberalisation has not resulted in rapid reduction in poverty, as was expected, Planning Commission Deputy Chairman Montek Singh Ahluwalia said.
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.
Chief Minister Vasundhara Raje claimed the deputy chairperson of planning commission Montek Singh Ahluwalia was very pleased with the performance of the state.
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.
Manmohan Singh, who also heads the government's Plan think-tank, complimented the internal Planning Commission for starting the process of mid-term appraisal in 'right earnest.'
"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.
India's gross domestic product grew at a decade low of 5 per cent last fiscal.
The Congress-led coalition government will have to address the challenges of improving the country's infrastructure and modernise agriculture to ensure high growth of the economy
Planning Commission Deputy Chairman Montek Singh Ahluwalia on Saturday strongly supported the view that petroleum prices in the country should "align with the global price."
Planning Commission Deputy Chairman Montek Singh Ahluwalia said big investments and increase in agriculture output will boost Indian economy.
The tug of war between the finance ministry and the Planning Commission over more resources for plan projects worsened, with Planning Commission Deputy Chairman Montek Singh Ahluwalia saying he was keen on getting more money for the 11th Plan.
In an apparent attack on the previous united front and NDA governments for neglecting agriculture, the planning commission on Monday asked the centre to "correct" farm policies in view of the deceleration in the sector witnessed since 1996.
The contract is characterised by a minimum revenue guarantee and a cap on the firm's revenues.
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.
Rajasthan's BJP Chief Minister Vasundhara Raje and Deputy Chairman of Planning Commission Montek Singh Ahluwalia on Monday differed on which Union government was behind the expressway project in the state.
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