'The Indian private sector knows how to build and run educational organisations, what is needed is a large dose of removal of restrictions.' 'Government restrictions hold back universities in India from launching medical schools,' argue Ajay Shah and Vijay Kelkar.
'I am shocked that the BJP makes so many commitments. What did they deliver as the NDA?'
Vijay Kelkar and Montek Singh Ahluwalia deserve to be on Padma Vibhushan honours list
To propel demand, one should concentrate on indirect taxes and bring down the goods and services tax (GST) rates to a uniform 12 per cent as the Vijay Kelkar panel had recommended, said Ajit Ranade, chief economist at Aditya Birla Group.
We have a government with an extremely weak economic team advising a PM who hardly pays attention to their thoughts, says Jayanta Roy.
The Kelkar Committee, which was appointed by Finance Ministry to suggest a roadmap for fiscal consolidation, has suggested immediate hike in fuel prices and complete deregulation of diesel prices by start of 2014-15 fiscal.
FinMin working to ensure all govt transactions are done electronically, says official
Not only does there appear to be no meeting ground on the issue of a pricing formula proposed by the committee, the petroleum ministry wants another committee headed by Vijay Kelkar to look into the other major recommendation of moving to the revenue sharing model in exploration and production.
Railways and port trusts have 60,000 acres of prime land for commercial use; nod for use of land with 50 loss-making PSUs on the cards.
Panel to recommend sharing of divisible resources between states and the Centre from 2015 to 2020.
The venture is applying to the Reserve Bank of India for approvals.
While many experts said the suggestion would go a long way in bringing down the annual food subsidy expenditure, they doubt the feasibility of the idea.
According to the report, Indian economy is headed for a "perfect storm" worse than 1991 because government's cashflow by March 2013 is threatening to be Rs 110,000 crore (Rs 1,100 billion) more in the red than the expected Rs 500,000 crore (Rs 5,000 billion).
The Vijay Kelkar committee has cautioned that India's current account deficit (CAD) might rise to a record 4.3 per cent of gross domestic product (GDP) in 2012-13 if reforms to address this do not take place.
Economists say there aren't many options with the government at present, given the drought-like situation which would only spur its spending.
Kelkar panel says figures awry, fiscal deficit may cross 6% if reforms not undertaken.
Despite rising subsidy bill, says fuel price action and other steps in contemplation would keep it at 5.3% of GDP, not more
Click here to download the Kelkar Committee report.
Skoch events are organised with pomp and show in the swanky hotels of Delhi and Mumbai every year.
The government has made several region-wise and sector-wise allocations in its annual plan and budget proposals.
It is believed that the commission in its report has suggested higher allocation to the states during five years starting from next fiscal.
The Finance Commission, which makes recommendations on sharing of tax revenues by the Centre and States, has suggested a new path for fiscal prudence in its report submitted to President Pratibha Patil on Wednesday.
The government should speed up the disinvestment process to generate funds for meeting the new needs such as environment protection, 13th Finance Commission chairman Vijay Kelkar said.
The Thirteenth Finance Commission on Monday suggested that activities like housing, construction and railways should be included in the proposed Goods and Services Tax to increase the tax base and enhance collections.
Tamil Nadu chief minister M Karunanidhi said on Thursday that 'performing states' like Tamil Nadu have not been receiving their 'due share' from successive finance commissions, who, he alleged, gave more importance to backward states. He called for more allocation to the state from the Central Relief Fund, "considering the natural calamities," the compensation for which, especially crop loss, needed to be substantially increased.
In view of the severe drought and growing prices of essential commodities, Prime Minister Manmohan Singh has constituted a crisis management group of Ministers (GoM) for monitoring the situation on a day-to-day basis.
The tax base should comprehensively extend over all goods and services up to the final consumer point.
Vijay Kelkar, former advisor to the Union finance minister, has joined the board of Tata Chemicals Ltd as director.
The government on Wednesday constituted the 13 Finance Commission, which would look into sharing of taxes between Union and the States, under the chairmanship of former finance secretary Vijay Kelkar.
Competition watchdog CCI needs to scrutinise the practices of the state-owned companies as they are not above the law of competition, the Chairman of the 13th Finance Commission, Vijay Kelkar said on Friday.
RBI is likely to continue with its tough stance on monetary policy to maintain price and financial stability.
The trio could play a significant role in the global economy, which is facing a slowdown, Finance Commission chairman Vijay Kelkar said at a conference on Russia, India and China in New Delhi. The conference was held to throw light on common policy issues characterising each of the society, said Suman Berry, National Council of Applied Economic Research director general.
The Goods and Services Tax, proposed to be introduced from April 2010, would benefit the economy by at least $15 billion
Jet Airways' $500-million deal to takeover Air Sahara got a boost on Monday with the home ministry giving security clearance to four Jet officials to be on the board of Air Sahara.
Leading private airline Jet Airways has put on its board a director whose security clearance is still awaited, contrary to stipulated norms of Director General of Civil Aviation.
Eminent economist Parthasarathi Shome will be the new advisor to Finance Minister P Chidambaram. He succeeds Vijay Kelkar, whose term ended on August 31.
Dr Vijay Kelkar, adviser to the finance minister, will meet industry representatives on Monday in Mumbai to discuss his indirect tax proposals as well as pre-Budget issues.
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