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.
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.
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.
Attacking the government over the issue of price rise, the Bharatiya Janata Party said on Wednesday if the United Progressive Alliance dispensation was sincere in addressing the "burning issue" they should agree on a discussion in Parliament under a provision that entails voting.
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.
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.
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.
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.
Planning Commission Deputy Chairman Montek Singh Ahluwalia on Monday pegged India's growth this financial year at 6.5-7 per cent. He added the country had taken various steps to boost investment, the results of which would be seen in six months.
The 12th Plan document describes three average annual growth scenarios - 8%, 6-6.5% and 5-5.5 per cent.
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.
Home Minister P Chidambaram and Planning Commission Deputy Chairman Montek Singh Ahluwalia rejected reports that they were locked in a turf war over the ambitious UIDAI project to give every Indian resident a unique ID number Aadhar.
Some reactions to RBI's monetary policy announced on Monday.
Diesel price hike is a tough decision and we need lot of tough decisions to get to 8 per cent growth rate," Planning Commission Deputy Chairman Montek Singh told reporters.
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.
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.
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.
You cannot have a corporate tax and then say spend another two per cent.
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 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.
Differing with International Monetary Fund's growth forecast of 4.9 per cent for India during 2012, Planning Commission Deputy Chairman Montek Singh Ahluwalia said it has a statistical problem.
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.
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.
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.
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.
Deficient monsoon is likely to pull down the economic growth in the current fiscal to about six per cent, from 6.5 per cent a year ago, the Planning Commission said on Friday.
Currently 100 per cent FDI is allowed in the sector.
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.
Last year, the Planning Commission got the approval for the 9 per cent annual average economic growth target under the Approach document for the 12th Plan from the country's apex decision making body, the National Development Council, headed by the Prime Minister with all the chief ministers and Cabinet ministers on board.
Reliance Industries is facing penalty for falling gas output from its KG-D6 fields.
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.
Asked whether growth was responsible for rising prices, Ahluwalia replied, "I don't agree that whenever you have (high economic) growth then you have inflation."
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.
Farm activists say low MSP is fine, if salaries revised under the Sixth Pay Commission are lowered.
Under attack over the Rs 32 per capita per day (in urban India and Rs 26 per day per person in rural areas) cut off for poverty line, the Planning Commission on Monday distanced itself from the controversial definition presented to the Supreme Court saying it did not represent its views.
Chinese Premier Wen Jiabao on Monday proposed collaboration between India and China in global fora like World Trade Organisation and G-20 and in the financial sector, as top planners of the two countries had a "productive" round of talks at the first Strategic Economic Dialogue in Beijing.
This is the second time that the Planning Commission will be scaling down the growth projection for the 12th Plan.
The Planning Commission said the decision of oil marketing companies to raise petrol price by Rs 3.14 per litre is a good news and will provide credibility to the economic reforms process.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances