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.'
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.
Ahluwalia argues that India can attract more capital even in today's world, provided the country retains an open system
The government is formulating a standard concession agreement for roads, ports and airports, expected to be ready by later this year.
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.
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 interest of the poor can be protected by providing targeted subsidy, Planning Commission's Deputy Chairman Montek Singh Ahluwalia said, adding that increased energy cost would have to be shared by the consumers as the burden is currently being largely borne by public sector oil companies.
Planning Commission Deputy Chairman Montek Singh Ahluwalia made a case on Wednesday for setting up a credible regulatory environment to attract funds for infrastructure development in the country. There are opportunities for private sector participation in infrastructure projects, which are being developed under the PPP mode, like on roads, ports and power, Ahluwalia told global investors.
Aviation Minister Praful Patel's outburst against Planning Commission Deputy Chairman Montek Singh Ahluwalia is perhaps not difficult to understand since most people think it was actually Patel who should have been keeping an eye on the delays at the Delhi airport.
Private partners like GMR and GVR, humiliated from time to time, have good reason to shrug their shoulders and argue that matters are outside their control.
Civil Aviation Minister Praful Patel on Tuesday lashed out at the Planning Commission, holding it responsible for the delay in the modernisation of Kolkata and Chennai airports.
Inflation rate fell to 0.27 per cent for the second week of March from 0.44 per cent for the week ended March 7. However, Planning Commission deputy chairman Montek Singh Ahluwalia said on Thursday the Indian economy is not heading towards deflation despite inflation nearing the zero-level in the past few weeks.
The Planning Commission does not foresee any significant disruption of state finances on account of increase in salaries of state government employees.
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.
'The Congress saw Rahul as the natural leader of the party and wanted him to take a larger role'
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.
Higher economic growth can be sustained only in an atmosphere of reasonable price stability
This was announced at the Indo-US Economic Cooperation conference held on Friday.
Planning Commission Deputy Chairman Montek Singh Ahluwalia on Wednesday called for sweeping reforms in education and health to make the surging economic growth truly inclusive.
Planning Commission echoed Prime Minister Manmohan Singh's concern that corporate salaries were excessive but said there was no proposed move to impose any cap on their salaries.
Batting for the Reserve Bank of India and the finance ministry, the Planning Commission on Friday said concessions to special economic zones should be at par with those provided to infrastructure projects.\n\n
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.
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.
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.
Planning Commission Deputy Chairman Montek Singh Ahluwalia warned that any extraordinary steps to contain inflation may prove counter-productive.
The Planning Commission said on Tuesday the current upswing in the economy, which is showing signs of overheating, was unlikely to continue in the long term, while attributing pressure on prices to high growth rate.
The Planning Commission said on Tuesday that emphasis on inclusiveness by the government should not be misconstrued as dilution of the overall growth agenda and the benefits should percolate to all strata of the society.
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.
India has said it would exercise caution in embracing fuller rupee float since the gradual approach towards liberalising the foreign exchange regime has paid in the past.
The Planning Commission may suggest an increase in education fees for higher education to Finance Minister P Chidambaram this year. Do you think this hike is justified?
Blaming earlier policies for "discriminating" against labour intensive sectors and leading to "significant deceleration" in employment, Planning Commission Deputy Chairman Montek Singh Ahluwalia on Friday
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.
Both sides have already agreed on restructuring of the schemes and curtailing the subsidy bill, Ahluwalia told reporters after the meeting.
Congress president Sonia Gandhi and Prime Minister Manmohan Singh will not be able to attend the annual World Economic Forum meeting to be held at Davos from January 24-28 next year.
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.
Chief Minister Vasundhara Raje claimed the deputy chairperson of planning commission Montek Singh Ahluwalia was very pleased with the performance of the state.
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.
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