Resource constraints have forced the planning commission to scale down investments by 12.5 per cent in crucial areas including agriculture, power and manufacturing.
'The household sector, which is still the largest contributor of financial savings, has been experiencing a decline in the last six years, and it has fallen below 8% of GDP.'
Ahluwalia, who was part of the team under then Finance Minister Manmohan Singh that started reform process in 1991, is presently with the International Monetary Fund, a post which he is expected to relinquish next month.
Eminent economist Montek Singh Ahluwalia was on Wednesday appointed deputy chairman of the Planning Commission.
The Finance ministry is believed to have thumbed down the proposals of waiving interest payments on loans taken by states from the Centre.
The wall broke up after being forcefully hit by the Ganga river waters when the pump was switched on for a trial run.
In a bid to defuse the controversy over the appointment of "foreign" consultants, the Planning Commission on Thursday announced dissolution of all the consultative groups established for mid-term appraisal of the 10th Plan.
The political storm over foreign consultants in the Planning Commission took a new turn on Wednesday amid indications that experts from the World Bank, McKinsey and ADB
Left economists in various committees of the Planning Commission on Tuesday threatened to resign if the government did not reconsider the decision to include foreign experts in consultations for the Mid-Term Appraisal of the Tenth Plan.
Finance Minister P Chidambaram on Monday announced in the Budget for 2005-06 that the Planning Commission has drawn up Tsunami relief programme costing Rs 10,260 crore (Rs 102.6 billion).
The Union Cabinet rejected the ordinance route for a set of anti-corruption measures despite pressure from Congress Vice President Rahul Gandhi for bringing such laws.
The Planning Commission on Tuesday emphasised the need for setting up "effective" regulatory institutions in civil aviation and ports sectors even as it said the functioning of the existing regulators in power and telecom was "uneven."
Seeking to allay concerns of Seemandhra, the government on Thursday said it has no intention to bifurcate Andhra Pradesh at the cost of one region and would do needful for overall prosperity of the residual state.
Montek Singh Ahluwalia is the new deputy chairman of the Planning Commission.
In a letter to Union Finance Minister P Chidambaram, he said the proportional share between the Centre and the state in centrally sponsored schemes should be changed for the least developed states like the one existing for special category states now.
A day after the pro-reformist Telugu Desam Party government received a drubbing in Andhra Pradesh assembly elections, the Planning Commission on Wednesday cast doubts over levying user charges for providing key inputs to rural farmers.
The Planning Commission has given its nod to state-owned Power Finance Corporation to raise capital through a public offering in which government is also likely to offload up to 10 per cent stake this fiscal.
The pipeline for well-qualified and experienced policy economists at senior levels of government has broken, leading to a growing dearth of suitable candidates for top economist positions.
'Some of the policies NITI Aayog has taken, we feel lean towards the corporates.' 'In a democracy, when you are making a policy decision, you are expected to take the views of all the stakeholders.'
'Unless we change and we see a change in the direction we are taking, times can only get worse.'
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