'All of us have believed in decentralisation. You may not like property taxation, neither do I. My solution is that the Centre does the tax collection, but we can give a matching grant instead of redistribution,' says the outgoing CEA, Arvind Subramanian.
"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.
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.
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.
Planning Commission Deputy Chairman Montek Singh Ahluwalia said the government can consider some more measures to contain inflation if prices do not soften going ahead. Inflation touched a 42-month high of 7.57 per cent for the week ended April 19 as compared to 7.33 per cent in the previous week. When asked whether futures trading of food grains be banned to bring down prices, he replied that the expert committee has said that futures trading does not increase inflation.
The government's annual Economic Survey on Friday strongly defended new farm laws, saying they herald a new era of market freedom which can go a long way in improving lives of small and marginal farmers in India. These legislations were designed "primarily" for the benefit of "small and marginal farmers", which constitute around 85 per cent of the total number of farmers and are the biggest sufferer of the "regressive" APMC-regulated market regime, the survey said. The pre-budget document defended the farm laws in the backdrop of long-running farmers' agitation at various borders of the national capital seeking repeal of these legislations expressing concern that they are pro-corporate and could weaken government regulated mandis, also called Agriculture Produce Marketing Committees (APMCs).
Economic liberalisation has not resulted in rapid reduction in poverty, as was expected, Planning Commission Deputy Chairman Montek Singh Ahluwalia said.
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.
Future students of Industrial Training Institutes can look forward to learning new trade skills that would arm them to the teeth in the job market, with the government currently working towards revamping these vocational institutes.
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.
The contract is characterised by a minimum revenue guarantee and a cap on the firm's revenues.
Amarinder said predictions by health experts about the spread of the pandemic are 'horrendous and frightening'.
Social sectors like health and education will get a leg up in the Eleventh Plan (2007-12), even as some other sectors may see a reduction in fund allocation.
Though there is a demand from the states for continuance of the 75:25 funding pattern under the SSA, at present, the Plan panel is not considering the pattern change.
"If half a dozen other developing countries could do it, India can too. There are some things we need to do and if we do them right, there should be no doubt about achieving the projected growth rates," Ahluwalia said.
Planning Commission Deputy Chairman Montek Singh Ahluwalia today said the country would need to spend eight per cent of its GDP on the sector during the 11th Plan to ensure a 10 per cent economic growth.
The Planning Commission on Tuesday made a case for increasing prices of petrol and diesel arguing that it was not a good idea to check inflation by keeping prices of petroleum products low.
"I am in favour of generally multilaterally liberalising trade and I think the rest of the world is moving towards doing that in a parallel track," says Montek Singh Ahluwalia.
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.
Strongly favouring a hike in power and water user charges, Planning Commission Deputy Chairman Montek Singh Ahluwalia on Thursday
The Planning Commission on Tuesday said investment in infrastructure will have to be about $350 billion in the next five years to propel overall growth of economy to over 8 per cent.
Planning Commission on Thursday said a desicion was expected shortlyon using foreign exchange reserves for infrastructure projects.
State-run Power Finance Corporation on Thursday awarded the 4,000 MW Sasan and Mundra ultra mega power projects to the two successful bidders Lanco Infratech and Tata Power respectively.
The Planning Commission on Thursday said the surge in global oil prices should be passed on to customers, but favoured having some provisions to safeguard the interests of vulnerable sections of the society.
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."
Passive income can help you earn more than a crore of rupees in 40 years. The only thing is you need to do is save and invest 10 per cent of your income.
"The theme of tomorrow's meeting is 'Economic Policy Reform, Road Ahead'. The prime minister will make opening remarks. There are 15 invitees who will make their presentations before the prime minister," a senior government official said.
India, which aspires to grow like China in various spheres, is interestingly against replicating the Beijing model of population control as it feels that a sudden reduction could impact supply of labour.
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.
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.'
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