Faulty Jan data blamed on festival holiday; govt to form review panel
The long-awaited move to bring urea under the Nutrient-Based Subsidy (NBS) scheme is likely to be announced in the coming Union Budget, to be unveiled on February 28, even as the government would decontrol its prices gradually.
The others who will be joining the commission as members are Narendra Jadhav, honorary vice-chancellor of Pune University and Mihir Shah, secretary of Samaj Pragati Sahayog. The government has also retained Abhijit Sen, Syeda Hameed and B K Chaturvedi as members in the reconstituted commission, sources in the Prime Minister's Office said.
Growth in the six core industries -- crude oil, petroleum refinery products, coal, electricity, cement and finished steel -- in April-March 2008-09 was 2.7 per cent against 5.9 per cent in the previous fiscal. Crude oil production continued to remain in the negative zone as it dipped by 3.1 per cent in April while it had registered a growth rate of 1 per cent a year ago.
Chairman of the Economic Advisory Council to the Prime Minister (PMEAC) Chakravarthi Rangarajan has resigned following the defeat of the Congress-led UPA in the general elections.
All members of the Planning Commission have submitted their resignations to the Prime Minister's Office paying the way for reconstitution of the institution.
'So far as supervision is concerned, there are enough powers but to take action on public sector banks, consultation with the government is needed.'
The term of the members of the Planning Commission is co-terminus with the Prime Minister and they would be submitting their resignations once the new government is formed after the ongoing general elections next month.
.jpg)
The growth has not been very robust in the first two financial years of the 12th Plan.
Going by its past experience of differences between the central bank and the finance ministry, the government might prefer a person who could bridge this gap.
The panel suggested the cess for BS-IV and BS-V fuels should accrue to the Oil Industry Development Board
The current account deficit is the difference between inflow and outflow of foreign exchange.
New body to replace Plan panel might retain 40% of existing staff
Suggestions made by the different experts have been noted and would be forwarded to Prime Minister Narendra Modi.
Officials asked what the point was in going through banks when the government has to give guarantees.
Will give truer reflection on price movements of food products, impact of cereal procurement prices.
According to the final recommendations of an expert committee, the weight of primary (unprocessed) food items will go down by 0.5-1.0 percentage points in the new series compared to the current one
Since 2004, Montek Singh Ahluwalia, one of the commission's longest serving deputy chairmen, has been trying to mould it to fit into the new economic order, without much to show for his efforts.
Budget announcements will come right before five states, with population of around 250 million, go to polls.
Economists have cautioned that any deferment of the government's fiscal goals would prove counter-productive and raise the interest payment burden.
Even if the new body focuses on long-term planning, it is unlikely to do so through five-year Plans.
'India's economy is growing faster compared to the developed economies of the world.' 'More importantly, it is growing faster compared to most of the developing economies.' 'The monsoon is not the only thing that drives the rural economy and certainly not the national economy.' 'It is too simplistic to reduce everything to the monsoon.'
'I may not indulge in chest thumping to express my patriotism every day.' 'I may be cynical about many things happening in our country.' 'I may not roar Bharat Mata Ki Jai at the top of my voice. But I still love my country, just as one loves one's parents with all their weaknesses.' 'Does that make me any less of a patriot?' asks Shobha Warrier.
'The government must keep bad news out of the newspapers. If you have news about a fight everyday, it is not a climate where investment takes place.'
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances