Montek Singh Ahluwalia

Planning Commission veterans to deliberate on its replacement on Aug 26

Planning Commission veterans to deliberate on its replacement on Aug 26New Delhi : The Planning Commission has called a meeting of its former Deputy Chief and members on Tuesday to deliberate on the structure of the new body which will replace the 64-year-old institution.

"It is correct that they have called a meeting. They have invited me. But I will not be in Delhi so I would send my comments in writing to them," former Planning Commission Deputy Chairman Montek Singh Ahluwalia told PTI.

New plan panel to decide on growth revision: Ahluwalia

Montek-Singh-AhluwaliaNew Delhi, April 30 : The Planning Commission chaired by Prime Minister Manmohan Singh Wednesday discussed the mid-term appraisal of the 12th Plan period but did not take any decision on lowering the growth target, leaving it for the new panel that will be formed after the general elections.

Talking to reporters after the meeting at Yojana Bhawan here, Planning Commission Deputy Chairman Montek Singh Ahluwalia said the decision on revision of growth rate should be taken by the new commission.

New Govt. will need to revive investments within 3 months: Montek

montek-singh-ahluwaliaNew government will likely not be able to get Indian economy back to high growth unless it revives investments and push large infrastructure projects within three months of being elected, Planning Commission Deputy Chairman Montek Singh Ahluwalia.

Speaking on the sidelines of a CII conference titled "Reviving Investments: Imperatives of Project Clearance," Mr. Ahluwalia stressed that new government must take on the fact that almost all infrastructure projects in important areas have got stuck.

Policies should explained for better results: Montek

Montek-Singh-AhluwaliaNew Delhi, Dec 21 : Deputy Chairman of Planning Commission Montek Singh Ahluwalia Saturday said there is no alternative to explaining policies to get desired results.

“There is no alternative to explaining policies. The way government functions is important. It tends to function in silos. I am sure there are problems, sometimes regulatory, environment issues are there but that is not the way to perform,” he said in an interactive session organised by FICCI at the chamber's 86th annual general meeting.

India will be world’s third-largest economy by 2030: Ahluwalia

India will be world’s third-largest economy by 2030: AhluwaliaIndian economy will become the third-biggest economy in the world in less than two decades, Planning Commission Deputy Chairman Montek Singh Ahluwalia said.

During his speech at the convocation of the 125th course of the National Defence Academy (NDA) at Khadakwasla on Thursday, Mr. Ahluwalia said that India will have the world's third-largest gross domestic product (GDP), after China and the U. S., by the year of 2030.

'Faster decline in poverty since 2004'

Montek-Singh-AhluwaliaNew Delhi, Nov 9 : Poverty has declined much faster since the UPA government came to power, Deputy Chairman of Planning Commission Montek Singh Ahluwalia said here Saturday.

Delivering the 49th Foundation Day address at the Institute for Defence Studies and Analyses(IDSA), Ahluwalia said the country needs inflow of energy, technology, investment and trade to grow at eight percent in the coming years.

He said the growth target of eight percent could be achieved only if difficult policy decisions are taken.

CAD may drop below 3.8% this fiscal: Montek Singh Ahluwalia

CAD may drop below 3.8% this fiscal: Montek Singh AhluwaliaIndia's current account deficit (CAD) may fall below 3.8 per cent in the current financial year, according to Planning Commission Deputy Chairman Montek Singh Ahluwalia.

Mr.  Ahluwalia said the delay in gradual withdrawal of monetary stimulus by the U.  S.  Federal Reserve and the stabilization of the rupee would bring improvement in the Indian economy.

Speaking on the topic, "The bottom line on CAD is that news is very good.  It will be lower than 3.8 per cent."

India to discuss currency issues at G20 summit

India to discuss currency issues at G20 summitIndia will join some other emerging economies to raise the issue of currency volatility at the G20 summit in St Petersburg next week, according to Planning Commission deputy chairman Montek Singh Ahluwalia.

India doesn't need IMF help for stabilising rupee: Montek

Montek-Singh-AhluwaliaNew Delhi, Aug 31 : India does not need the International Monetary Fund's help to ensure the stability of the rupee, which has depreciated by almost 20 percent against the dollar in the past three months, Planning Commission Deputy Chairman Montek Singh Ahluwalia said Saturday.

“I don't think our current economic situation requires us to go to IMF. I don't anticipate that situation in the near future,” Ahluwalia said at a media conference here.

He said the rupee had “over depreciated” and should appreciate now, and find an appropriate level.

Rupee rebounds on government intervention

Montek-Singh-Ahluwalia_Mumbai, June 12 : The Indian rupee rebounded to 57.88 against a dollar Wednesday, after hitting a record low of 58.98 in the previous day, on interventions from the government and the Reserve Bank of India.

The partially convertible rupee was trading at 57.93 against the dollar at 1.10 p. m. after hitting a high of 57.88 in intra-day trade. The intra-day low of the rupee was 58.38 against the dollar.

The Indian currency rebounded Wednesday after three consecutive days of steep fall on intervention from the government and the Reserve Bank of India (RBI).

Odisha plan size to rise 24.63% to Rs. 21,500 crore

Odisha plan size to rise 24.63% to Rs. 21,500 croreThe Plan size for this year for the state of Odisha is set to rise 24.63 per cent to Rs. 21,500 crore compared to Rs. 17,250 crore recorded in the previous year. Chief Minister Naveen Patnaik and Montek Singh Ahluwalia, deputy chairman of Planning Commission met to discuss the plan size for the state.

Ahluwalia said, "The performance is satisfactory and efforts at improving human development indicators are appreciable. Progress has been reached during the 11th Plan in all sectors including agriculture. Focus on human development needs to be continued."

Planning Commission approves Rs 2,500 crore plan for Tripura

Planning Commission approves Rs 2,500 crore plan for TripuraThe Planning Commission of India has approved a plan size of Rs. 2,500 crore for the north eastern state of Tripura for the current financial year, 2013-2014.

The plan size, which is 11.1 per cent higher than the previous year, was discussed when Planning Commission Deputy Chairman Montek Singh Ahluwalia met Chief Minister of Tripura Manik Sarkar for a meeting.

Direct Cash Transfer scheme will not lead to misuse of money

Direct Cash Transfer scheme will not lead to misuse of moneyPlan panel Deputy Chairman Montek Singh Ahluwalia has said that the large scale roll out of the direct cash transfer scheme of the government will not lead to misuse of cash.

"They prove two things. First, cash transfers can be organised. Second, when you give (transfer) the money (into the beneficiary's account), it is simply not wasted or used for the wrong things," he said. He was speaking at a Conference on Unconditional Cash Transfers organised by UNICEF.

US decision will not hit capital inflows to India: Montek

Montek-Singh-AhluwaliaNew Delhi, May 24 : India does not depend on short-term borrowings from the US and if the US withdraws its stimulus packages, it will not impact capital inflows in India, Planning Commission Deputy Chairman Montek Singh Ahluwalia said here Friday.

PC allocates Rs49,000 crore to Maharashtra for annual plan

PC allocates Rs49,000 crore to Maharashtra for annual planThe Planning Commission of India has allocated a sum of whooping Rs. 49,000 crore to the state of Maharashtra for its annual plan and the state will receive an additional Rs. 31,500 crore as public sector enterprises
(PSE) plan.

Planning Commission approves Haryana’s Rs 27,072cr plan outlay for 2013-14

Planning Commission approves Haryana’s Rs 27,072cr plan outlay for 2013-14The Planning Commission of India on Monday approved Haryana's annual plan of Rs 27,072 crore for the financial year 2013-14.

The plan was finalized by Planning Commission Deputy Chairman Montek Singh Ahluwalia and Haryana Chief Minister Bhupinder Singh Hooda at Yojana Bhawan in New Delhi.

Montek expects CAD to fall to 2.5% in two to three years

Montek-Singh-AhluwaliaPlanning Commission deputy chairman Montek Singh Ahluwalia has said that he expects the country's current account deficit (CAD) to come down to 2.5 per cent of gross domestic product (GDP) in the next two to three years from about 5 per cent at present.

"Traditionally we have seen it at 2.5 per cent of the GDP at comfortable level. I think we will take at least two to three years to get there, I think this country for another 20 years can run CAD at around 2.5 per cent of GDP," he said. He was speaking at the meeting of the Asia Pacific Regional Committee.

Price distortion responsible for clean energy’s slow adoption: Montek

Montek-Singh-AhluwaliaGreen energy sources have so far failed to gain momentum they cost more than conventional sources, Planning Commission Deputy Chairman Montek Singh Ahluwalia said.

Speaking at the fourth Clean Energy Ministerial on Wednesday, Mr. Ahluwalia said that green energy would not be chosen even when it became competitive, because of price distortion.

He admitted that the price distortion was due to subsidizing of conventional energy sources.

India to showcase clean initiatives at upcoming ministerial

India to showcase clean initiatives at upcoming ministerialMontek Singh Ahluwalia, the Deputy Chairman of the Planning Commission has said that the country is planning to showcase tis clean energy initiatives to the world during the upcoming Clean Energy Ministerial next week.

The country is hosting the Clean Energy Ministerial that is a platform for promoting policies and programmes that advance clean energy technology. Ahluwalia said that the countries who will be represented at the event should know about India's energy policy.

Himachal's annual plan outlay fixed at Rs.4,100 crore

Virbhadra-Singh-M-S-AhluwaliaNew Delhi, April 10 : Himachal Pradesh's 2013-14 Annual Plan outlay was fixed at Rs. 4,100 crore by the Planning Commission Wednesday, Rs. 400 crore more than last year's plan size.

The plan size is 11 percent higher than the Rs. 3,700 crore outlay for 2012-13, an official statement said.

The outlay was finalised at a meeting between Planning Commission Deputy Chairman Montek Singh Ahluwalia and Chief Minister Virbhadra Singh here.




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