Echoing similar views, CII too said the Prime Minister has given high importance to manufacturing and investment.
There would be a gap in legislation to be caused by proposed winding up of MRTPC with respect to unfair trade practices. The gap can be filled in be establishing NCPA through enactment of National Consumer Protection Authority Act, the document said. The MRTPC, which has been looking into various unfair trade practices would be wound up to make way for Competition Commission, which is likely to be fully operational by the end of next year.
Government funds spent on productive asset creation through programmes and schemes are termed "Plan" expenditure, while "non-Plan" is a generic term that refers to all expenditure (including establishment and maintenance activities) of the government not included in the Plan.
"We should encourage greater outward investment by provident funds and insurance companies when inflows are high. Such diversification will make these funds more stable (give them less exposure to high volatility India markets)," said the draft report of the the Committee on Financial Sector Reforms, headed by former IMF Chief Economist Raghuram G Rajan.
The newly-appointed Minister of State for Planning V Narayanasamy on Monday expressed confidence that prices will come under control soon following the steps taken by the Centre to contain inflationary pressure.
The situation is particularly bad in the public healthcare sector, a high-level group of the Commission said in a report last week. The public healthcare has been on a serious decline during the last two or three decades because of non-availability of medical and paramedical staff, diagnostic services and medicines. The situation in availability of specialist manpower in Community Health Centres is particularly bad as against the sanctioned posts.
Set up by India's first Prime Minister Jawaharlal Nehru, the Planning Commission brought 12 five-year plans and six annual plans involving fund outlays of over Rs 200 lakh crore in its nearly 65-year-history.
Though the Planning Commission favours imposition of a direct tax on Special Economic Zones (SEZs), it does not agree with the contention that these tax-free industrial enclaves are leading to revenue loss.
Faced with huge cost overruns due to a delay in building the rural roads under Bharat Nirman, the Planning Commission is now looking at alternative ways to fund the ambitious rural development project of the United Progressive Alliance (UPA) government.The rural road project, christened the Pradhan Mantri Gram Sadak Yojana (PMGSY), has seen tardy performance on the target of constructing 146,185 km of rural roads by 2009.
The Planning Commission does not foresee any significant disruption of state finances on account of increase in salaries of state government employees.
The government on Friday appointed noted economist Arvind Virmani as the new chief economic advisor in finance ministry.
Aiming to improve the living standards in the country, the 11th Plan draft document has set ambitious targets of per capita income growth of 7.6 per cent each year and an overall average economic growth of nine per cent. The Plan aims at an average growth rate of 9 per cent, accelerating it from 8 per cent in the first year of the Plan (2007) to 10 per cent by the end of the Plan period (2011-12).
Besides setting up 30 new Universities, the government has decided to universalise secondary education system in the country.
In addition, the government also plans to float power bonds -- Vidyut Vikas Patra to mobilise Rs 50,000 crore (Rs 500 billion) to finance various projects in the sector under the Eleventh Plan period. The VKP to be floated on the lines of the Kisan Vikas Patra will have a lock-in period of five years.
A 1970 Kerala-cadre IAS officer, Chandrasekhar has been revenue secretary in the Finance Ministry and ambassador and permanent representative at the World Trade Organisation.
Erstwhile Planning Commission Secretary Sindhushree Khullar is believed to have been appointed as CEO of the newly formed NITI Aayog.
Days after exchange of words between the Planning Commission and the Civil Aviation Ministry, the process of Kolkata airport modernisation is all set to start with the Public Investment Board meeting in New Delhi later this week to give its nod to the Rs 2,000 crore (Rs 20 billion) project .
The ministry of company affairs, now known as the ministry of corporate affairs, plans to set up an Indian Institute of Corporate Affairs. Apart from training officials, the institute will also work as a think-tank for the ministry.
India's leading national commodity exchanges have asked the government to immediately lift the ban on futures trading on certain agricultural commodities.
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.
The government on Tuesday ruled out setting up an IIT in Orissa, saying it has already approved three such institutes in Bihar, Andhra Pradesh and Rajasthan.
Chief Minister Vasundhara Raje claimed the deputy chairperson of planning commission Montek Singh Ahluwalia was very pleased with the performance of the state.
The ministry of finance does not want a single entity to own more than five per cent in a CIB. This view is backed by the Reserve Bank of India.
"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 Plan Panel was set up by a simple government resolution in March 1950 had withstood many political and economic upheavals.
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.
Shastri took the first big step to transform India's agriculture, the benefits of which his successors reaped in plenty, says A K Bhattacharya.
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
Questioning the idea of market-determined prices for natural gas favoured by the petroleum ministry, the Planning Commission said on Tuesday that given the shortage of the fuel, the government had a role to play.
As part of the initiative, Planning Commission is organising a one-day conference on 'Building Infrastructure: Opportunities and Challenges' on October 7.
'What the government should do to create jobs is to help revive the MSME sector.' 'This sector gives employment to lakhs of people.' 'The MSME sector provides more employment than the big industries.' 'So, what should be done immediately is to revive the MSME sector.'
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?
Central ministries as a whole are expected to get an increase of only 15 per cent in gross budgetary support for 2008-09, much lower than the 62 per cent increase they had demanded.
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.
Aiming to give a concrete shape to new initiatives in the farm sector, the Cabinet will soon take up key issues such as central assistance to states, food security mission and suggestions of National Commission on Farmers.
Unions boycott launch of new fleet to protest the merger of Indian Airlines and Air India.
The Indian Institute of Foreign Trade(IIFT) is planning a campus in South India, after Delhi and Kolkata, as the student representation from the region is quite low.
The Planning Commission, according to highly-placed sources, says GDP allocation to education will increase from its from current 3.5 per cent to 5 per cent by the end of the 11th Plan. Around 19.7 per cent of the total plan resources would be set aside for education, according to the sources in the Commission.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances