Shortly before the commencement of the Sixth G20 Summit in Cannes, France, leaders of the emerging, but powerful, economies -- Brazil, Russia, India and China -- met with the intention of designing a joint strategy on how to tackle the Eurozone debt tsunami that could overrun the developing nations causing havoc.
The working group on food and public distribution constituted under the chairmanship of Planning Commission Deputy Chairman Montek Singh Ahluwalia is likely to recommend using the numbers effectively for streamlining PDS.
Bernanke's remarks about the possibility of scaling back of stimulus with improvement in economic conditions sent the global stock markets including that of India into tizzy.
The government, which had set a reserve price of Rs 14,000 crore for pan-India spectrum broadly drawing from the basis used by Comptroller and Auditor General in calculating the loss in the previous sale in 2008, managed a meagre Rs 9,407.64 crore (Rs 94.07 billion) in the auction that lasted barely two days.
Amid the controversy raging over the definition of poverty, Planning Commission Deputy Chairman Montek Singh Ahluwalia and Union Rural Development Minister Jairam Ramesh on Monday claimed that they have resolved the issue.
To offset the impact of high import costs, the Planning Commission had said that Coal India Ltd should adopt a pooling formula on prices by combining rates of imported and domestic coal.
Wipro Chairman Azim Premji, Planning Commission Deputy Chairperson Montek Singh Ahluwalia, former diplomat Brajesh Mishra and Telugu thespian A Nageshwara Rao were chosen for country's second highest civilian award--Padma Vibhushan--this year.
Indian economy grew at a nine-year low rate of 5.3 per cent in January-March quarter in the last financial year and also in the last fiscal at 6.5 per cent.
Ahluwalia asks sector to share and absorb risks associated with concession agreements under PPP model.
Showing concerns over hardening inflation, the Reserve Bank today left the key interest rate unchanged but reduced cash reserve ratio by 0.25 per cent to inject Rs 17,500 crore (Rs 175 billion) liquidity into the financial system.
Between 2004-05 and 2011-12, on an average, poverty declined by two percentage points a year say experts who worked on the data.
The economy will turn the corner in the next six months as the deceleration of the past several quarters has been arrested, Planning Commission Deputy Chairman Montek Singh Ahluwalia said on Monday.
According to official data released on Friday, industrial growth has slipped to 0.6 per cent in February this year due to contraction in power generation and mining output and poor performance of manufacturing sector.
India can raise funds through selling up to\n49 percent of its state-run firms, Montek Singh Ahluwalia, deputy chairman of the\nPlanning Commission, has said.
Plan panel Deputy Chairman Montek Singh Ahluwalia welcomed the initiative to set up a Rail Tariff Regulatory Authority for rationalising fare and freight rates, in the Railway budget.
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.
Industrialist Anil Ambani on Wednesday met Planning Commission deputy chairman Montek Singh Ahluwalia, who is reportedly in the reckoning for the post of Finance Minister in the new UPA government.
According to Ahluwalia, if everything goes well on the economic growth front for the next three months, then one can say that the economy will be back on higher growth trajectory in the long run.
Some reactions to RBI's monetary policy announced on Monday.
India's fiscal deficit is expected to be 5.6 per cent of gross domestic product this fiscal as against the budget estimates of 4.6 per cent of GDP.
According to latest Central Statistical Organisation's estimates, the economy will grow at a rate of 5 per cent in the current fiscal -- the lowest in over a decade.
Currently 100 per cent FDI is allowed in the sector.
Says govt's focus is to re-assure foreign investors that India is wide open for business.
Terming the 5.5 per cent GDP growth as "good news", Planning Commission Deputy Chairman Montek Singh Ahluwalia today expressed confidence that economy would rebound in subsequent quarters.
According to principal advisor with the Planning Commission and former chief statistician, Pronob Sen, there were 40-45 million more people in the age group of 15-59 between 2004-05 and 2009-10. The unemployment rate has correspondingly fallen from 2.3 per cent to 2 per cent of the labour force.
The two-day conference, which saw participation of ministers and senior officials from all the states, was marked by brainstorming in the run up to the expected enactment of the government's ambitious Food Security Bill.
The document which was tabled in Parliament by Finance Minister P Chidambaram has projected the growth rate for next fiscal at 6.1-6.7 per cent.
The authority is set to cross the target by the end of this month, with a million enrolments every day. It has already allotted 116.3 million Aadhar numbers.
Raise diesel prices or else face a situation similar to the recent grid failure which led to complete blackout across 20 states for hours, Planning Commission Deputy Chairman Montek Singh Ahluwalia said on Friday.
He was speaking to reporters along with Union Minister of State for Planning Ashwini Kumar on the sidelines of the Regional Consultation with five Eastern States on the Approach Paper to be finalised by the Planning Commission.
The Dravida Munnetra Kazhagam is upset with the prime minister's office for not including DMK's M K Alagiri in the Empowered Group of Ministers on drought.
The 12th Plan document describes three average annual growth scenarios - 8%, 6-6.5% and 5-5.5 per cent.
The presidential election has really come as a boon to the four-month-old Akhilesh Yadav government in Uttar Pradesh, which received a largesse of nearly Rs 80,000 crore from the Centre on Wednesday.
Terming HSBC's projection at 5.2 per cent for the current fiscal as incorrect, Ahluwalia said the second half is likely to be better than the first half's.
The Plan panel on Wednesday said the government's refusal to accord environment clearance to Vedanta's proposed $1.7 billion aluminium project in Orissa would not tarnish India's image as an investment friendly destination.
The original reforms trio of 1991, which showed the way for the opening up of the Indian economy, is now back with a bang. At that time Prime Minister Manmohan Singh was Narasimha Rao's finance minister, Planning Commission Deputy Chairman Montek Singh Ahluwalia was his finance secretary and Rangarajan was the deputy governor of the Reserve Bank of India. They set the ball rolling and became the "reform priests", a journey which has come full circle today.
Reserve Bank of India, in consultation with the government, has raised the FII investment limit in government securities by $5 billion to $20 billion.
The country's economic growth rate slipped to 5.3 per cent in the fourth quarter of 2011-12, lowest in nearly 9 years due to poor performance of the manufacturing and farm sectors.
The government is doing a lot to push growth but the impact of its efforts will be felt in the second half of the fiscal when the expansion rate will show some improvement, Planning Commission Deputy Chairman Montek Singh Ahluwalia said.
On Monday, Reserve Bank hiked the lending rates to banks by 2 per cent to 10.25 per cent.
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