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English Release 1-October 2014
Date Month Year
  • President's Secretariat
  • Message to the Nation from the President on the eve of Gandhi Jayanti
  • President Expresses condolences over loss of lives due to collision of trains near Gorakhpur, Uttar Pradesh
  • President’s Durga Puja Greetings
  • Vice President's Secretariat
  • Vice President Greets Citizens on Dussehra
  • Vice President Confers ‘Sir Ross Masood Lifetime Achievement Award for Excellence in Leadership, Education, Community & Public Service-2014’ to Shri Saiyid Hamid
  • Prime Minister's Office
  • PM sanctions ex-gratia for victims of train accident near Gorakhpur District, Uttar Pradesh
  • PM expresses condolences over loss of lives due to collision of trains near Gorakhpur, Uttar Pradesh
  • Text of Remarks by Prime Minister Narendra Modi at the Joint Press Briefing with President Barack Obama
  • English Rendering of Remarks by Prime Minister Narendra Modi at the Joint Press Briefing with President Barack Obama
  • Joint Statement during the visit of Prime Minister to USA
  • Election Commission
  • Gaming Your Way to Democracy: ECI Launches Video Game to Educate Voters
  • Min of Consumer Affairs, Food & Public Distribution
  • Ram Villas Paswan undertakes surprise checks to see cleanliness in his Ministry
  • Min of Defence
  • Defence Accounts Department Celebrates Its 267th Anniversary
  • Air Marshal Jajgeet Singh takes over as Air Officer-in-Charge maintenance at Air Headquarters
  • 24th Edition of Ind-Indo Corpat Concludes
  • Min of Earth Science
  • Swachh Bharat Campaign at Ministry of Earth Sciences Launched by Dr. Jitendra Singh Amid A Call to Participate in the Cleanliness Drive Whole Heartedly
  • Ministry of Finance
  • Different Departments of Ministry of Finance to take Coordinated actions to make Swatchh Bharat Campaign a Great Success; Action Plan Drawn to keep the Office Premises Neat and Clean; Goal is to Provide an Aesthetic and Congenial Working Atmosphere for one and all
  • Due Date of Deposit of Tax Deducted at Source/Tax Collected at Source during the Month of September, 2014 extended from 7th October, 2014 to 10th October, 2014
  • Repayment of 7.56% Government Stock 2014 and 11.83% Government Stock 2014 on November 03, 2014 and November 12, 2014 Respectively
  • Min of Health and Family Welfare
  • “Combine Ram Lila revelry with health checks”: Dr Harsh Vardhan
  • Large turnout on National Voluntary Blood Donation Day
  • Min of Home Affairs
  • Cleanliness Drive in the Ministry of Home Affairs Under ‘Swachh Bharat’ Campaign
  • PIO Card valid for Life Time
  • Show Cause Notices to Associations for not Filing Mandatory Annual Return
  • Min of Human Resource Development
  • Union HRD Minister Smriti Irani Releases a Handbook – Swachh Bharat Swachh Vidyalaya
  • Min of New and Renewable Energy
  • MOU Signed for First Ever Offshore Wind Power Project in India
  • Min of Personnel, Public Grievances & Pensions
  • Combined Defence Services Examination (II), 2014
  • Early closure of some Government Offices today
  • The President of India authorises Shri Rajiv as Central Vigilance Commissioner
  • Min of Petroleum & Natural Gas
  • Daily Crude oil price of Indian Basket was US$ 95.34/bbl on 30.09.2014
  • Min of Power
  • Message of Piyush Goyal on the Eve of Launch of “Swachh Bharat Mission”
  • Power, Coal, MNRE PSUs to Construct 50,000 Toilets in Schools
  • Ministry of Railways
  • Railway Minister Expresses his Profound Grief Over the Loss of Innocent Lives in Train Accident Near Gorakhpur in Uttar Pradesh
  • Min of Science & Technology
  • Dr. Jitendra Singh launches campaign of ‘Swatchh Bharat Mission’ in the Ministry of Science and Technology
  • Min of Skill Development, Entrepreneurship, Youth Affairs and Sports
  • ‘Punarjagaran’- Mass Awakening Campaign for youth to be launched on 2nd October, 2014
  • India’s Performance on Day 12 of Asian Games 2014
  • Min of Social Justice & Empowerment
  • National Awards for Senior Citizens – Vayoshreshtha Samman 2014 presented
  • Thaawar Chand Gehlot flags off Walkathon on the International Day of Older Persons

Previous Date

 
Ministry of Finance15-September, 2012 14:51 IST
Extracts from the Intervention of Union Finance Minister Shri P. Chidambaram at the meeting of the full Planning Commission Today

 “I welcome the growth rate target of 8.2% envisaged for the 12th Plan.  The present target is a realistic assumption given that in the 10th Plan we achieved a GDP growth rate of 7.6% and in the 11th Plan the achievement has been 7.9%.”

          “The gross budgetary support during the entire 12th Plan period has been estimated at Rs.35.68 lakh crores which works out to 5.23% of GDP over the 5 year period.  The GBS realized over the 11th Plan period was only 4.69% of GDP.  The assumptions of tax to GDP ratio seem to be highly optimistic. The Internal and Extra Budgetary Resources (IEBR) of the CPSUs has been estimated at Rs.20.59 lakh crores making the total resources available for the Central Plan at Rs.47.70 lakh crores.  Higher IEBR would be required to meet the shortfall, if any, in the GBS.”                                           

          “On the Non-Plan expenditure side, the major subsidies are projected to decline from 1.9% of GDP as per the Budget Estimates for 2012-13 to 1.2% in 2016-17.  The estimated major subsidies in 2012-13 would be around 2.4% of GDP, and a sharp fall as assumed in the Plan may be over-optimistic.  Direct cash transfer of subsidies in food, fertilizers and petroleum will help in this reduction.  I would urge that by the end of the 12th Plan, these three major subsidies be rolled out across the country through direct cash transfers to the beneficiaries.  Pilot projects are already under implementation for LPG and kerosene and it is our intention to extend the direct transfer mechanism to the UTs in the first phase.”

 

          “Analysis shows that out of the 147 Centrally Sponsored Schemes currently in operation, 100 schemes are with an outlay of less than Rs.300 crores each for the whole country.  Given the cost of administering the schemes and the capacity now available within the States, these deserve to be closed at the level of the Central Government.  The allocated funds of Rs.7229 crores in the 2011-12 Budget could be added to the annual Normal Central Assistance of the respective States to enable them to implement these schemes.”

          “We must keep in mind that outcomes must be measured not only in terms of achieving the financial outlays but also achieving the physical targets.  The main reason why actual growth rate in each Plan period was less than the targeted growth rate was the failure to achieve physical targets.  Let me illustrate by taking the targets set and the targets achieved in the 11th Plan period.

 

Sector

XIth Plan

 

Target

Achievement

Roads

48,479 kms.

Completed – 17,571 kms.

Under implementation –

                   13,981 kms.

To be awarded –

                   16,927 kms.

Additional power generation capacity created

78,700 MW

55,000 MW

Coal production (per annum)

680 million tonnes reduced to 630 million tonnes.

540 million tonnes

Crude oil production (per annum)

206.73 million tonnes

177.09 million tonnes

Gas production (per annum)

255.76 billion cubic metres

212.5 billion cubic

metres

Railways capacity creation

21,500 kms reduced to 15,000 kms

14,752 kms

 

I would, therefore, urge that we seriously consider the need to set up a mechanism at the Cabinet level to take final decisions on major investment proposals, especially in the infrastructure sector and, in particular, in the sectors that I have mentioned above.  At present, the Allocation of Business Rules allocates the authority to take the final decision/decisions to one or more ministries.  In fact, this is the reason why a truly “final” decision does not emerge for many years.  I would, therefore, urge that the authority to take the final decision/decisions should be vested in a National Investment Board to be chaired by the Prime Minister and the Allocation of Business Rules should be amended to create such a mechanism.  The National Investment Board’s authority should extend to proposals/projects where the investment is above a certain threshold, say, Rs.1,000 crore.  Once the final decision is taken by the National Investment Board, no other Ministry or Department or Authority should be able to interfere with that decision or delay its implementation.”

                                                         ******

DSM/RS


(Release ID :87796)

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