Washington, Nov 15 : Planning Commission Deputy Chairman Montek Singh Ahluwalia has expressed the hope that the G20 summit on the global economy and financial markets would end with a communiqué that makes a strong statement of support for fiscal stimulus actions that would boost confidence in the global economic situation
He said that most important thing to counter is the recessionary tendencies and there should be coordinated efforts by all nations.
Deputy Chairperson of the Planning Commission Montek Singh Ahluwalia has said that the government is quite hopeful that the inflation rate will come down to the single digits by March next year. He also said that the government is not keen to take excessive harsh measures to rein in the problem as it will have a harmful impact on the economy.
Speaking to media persons, Ahluwalia said, “Inflation is not something which we can bring under control immediately. Fortunately, the tendency of constant increase (inflation) has disappeared.”
Onboard Air India One, Sept. 24: While India Incorporated pundits are worrying about the spillover effect of the sub-prime crisis in the United States; the Indian Government believes the recent economic meltdown that has devastated the robust American banking sector, will have no direct impact on India thanks to the overflowing foreign cash reserves, the regulatory nature of our banking sector and the carefully calibrated, cautious and gradual liberalization policy designed by architects of the economy.
Planning Commission Deputy Chairman Montek Singh Ahluwalia said that the retardation in the Indian financial system has been on projected lines and a healthy recovery is expected by the coming fiscal year thanks to the measures being taken by the administration.
"The slowdown was not unexpected," Ahluwalia told, referring to the sharp decline in the development of India's gross domestic product (GDP) to 7.9% during in the first quarter of 2008, as against 9.2% in the same period of the last year.
Pune, Aug 1: Planning Commission Deputy Chairman and noted economist Montek Singh Ahuwalia will be awarded with “Lokmanya Tilak Puraskar” here today for his contribution to the country’s economic growth.
The award includes a gold medal, a citation and Rs one lakh.
Earlier, Chairman of Lokmanya Tilak Trust Deepak Tilak had said, “Ahluwalia would be awarded on the death anniversary of the freedom fighter Balgangadhar Tilak whom the British described as the ‘father of Indian unrest’”.
The economic growth rate of India may moderate to 8% during the current (2008-09) fiscal year.
Planning Commission Deputy Chairman Montek Singh Ahluwalia said that the 13-year high inflation rate of 11.42 percent may result into a little lower growth rate but if necessary steps to control inflation are taken, the growth objective of 9% will not be difficult to achieve.
On the other hand the central bank expects the economy to clock a 8-8.5 percent growth in 2008/09.
Washington, Nov 15 : Planning Commission Deputy Chairman Montek Singh Ahluwalia has expressed the hope that the G20 summit on the global economy and financial markets would end with a communiqué that makes a strong statement of support for fiscal stimulus actions that would boost confidence in the global economic situation
that the government is quite hopeful that the inflation rate will come down to the single digits by March next year. He also said that the government is not keen to take excessive harsh measures to rein in the problem as it will have a harmful impact on the economy.
While India Incorporated pundits are worrying about the spillover effect of the sub-prime crisis in the United States; the Indian Government believes the recent economic meltdown that has devastated the robust American banking sector, will have no direct impact on India thanks to the overflowing foreign cash reserves, the regulatory nature of our banking sector and the carefully calibrated, cautious and gradual liberalization policy designed by architects of the economy.
retardation in the Indian financial system has been on projected lines and a healthy recovery is expected by the coming fiscal year thanks to the measures being taken by the administration.
(2008-09) fiscal year.
