-The Hindustan Times The all-powerful Planning Commission may shrink, made more accountable, and forced to think long-term under the new government. Prime Minister-designate Narendra Modi is likely to dilute its over-arching financial powers and convert it into a developmental think-tank. Five Year Plans, the main mandate of the Planning Commission, may be scrapped. Instead, the panel may have to draft plans with 10-30 years on its horizon. The 12th Five Year Plan...
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Officials shape plan to cut spending, deficit: Sources
-Reuters NEW DELHI: The finance ministry is working on a proposal for the new government to cut welfare spending and rein in the deficit in its first budget, to allay fears of fiscal slippage that would increase the risks of a sovereign credit downgrade, officials said. Two senior ministry officials told Reuters the plan would make it possible for Narendra Modi's incoming government to reduce the current year's fiscal deficit and...
More »World economy to strengthen as job Growth remains ‘stubborn’ –UN report
-The United Nations The global economy is expected to strengthen over the next two years, despite a downgrade of Growth prospects for some developing countries and transition economies, and "stubbornly slow" job Growth, according to the United Nations World Economic Situation and Prospects 2014 mid-year update launched today in New York. "More than five years after the financial crisis, the world continues to struggle with getting the global economic engine back to...
More »Launching a war against malnutrition
-Live Mint The problem is unlikely to be solved by government action alone With almost every second child stunted in the country, India is virtually a nutritional basket case. Despite making giant strides in reducing poverty and hunger over the past two decades, India has struggled to combat child under-nutrition. India's malnutrition burden arises from a long history of flawed policy choices and deep-rooted gender inequality, which the new government must address...
More »Centre must invest $834bn to reduce carbon footprint: Panel
-The Times of India NEW DELHI: An expert group of Planning Commission has pitched for major investments to reduce country's carbon footprint, saying India needs to invest $834 billion in nearly two decades to be firmly on low carbon and environment-friendly Growth trajectory. It also stressed on use of renewable energy resources in big way, saying at least one third of power generation by 2030 must be fossil-fuel free. The group,...
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