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English Release 30-July 2014
Date Month Year
  • President's Secretariat
  • President of India condoles the loss of lives in landslides in Pune
  • President congratulates medal winners in Commonwealth Games
  • The Rashtrapati Bhavan Museum will open for public viewing from August 1, 2014
  • Prime Minister's Office
  • PM condoles loss of lives in landslide in Pune district
  • Sikkim Governor calls on PM
  • Full text of PM's address at 86th ICAR Foundation Day
  • Min for Develop. of North-East Region
  • Developing Ecosystem in North Eastern Region
  • Assistance to North Eastern Region under Special Accelerated Development Programme
  • Min of Commerce & Industry
  • Subsidy Given to Agri Exporters
  • Grant of Infrastructure Status to Hotel Industry
  • No Increase in Import Duty on Apple
  • Relaxation of Conditions for FDI in Different Sectors
  • Effect of Fall in Prices of Natural Rubber
  • Jobs Created Through Manufacturing Units
  • Production of Fine Quality Tea in Uttarakhand
  • US Opposition to Section 3(D) of the Indian Patent Act
  • Min of Culture
  • Funds for World Heritage Sites
  • Restoration and Maintenance of Monuments
  • Min of Defence
  • Air Chief Marshal Arup Raha Takes Over as New COSC
  • Min of Earth Science
  • Doppler Weather Radars
  • Impact of Abnormal Weather Condition
  • COMAPS
  • Min of Environment and Forests
  • Joint Working Group – Important Platform for addressing concerns of Environment and Sustainable Development: Shri Prakash Javadekar US Special Envoy for Climate Change meets Shri Prakash Javadekar
  • Min of External Affairs
  • Supply of Uranium for peaceful uses of Nuclear Energy
  • Step Taken by Government to Reduce Delay in Passport Issuance
  • States of Indo-Us civil nuclear deal
  • Ruling on Maritime boundary between India and Bangladesh
  • Land corridor to religious places in Pakistan
  • Indo-UK Ties
  • Hindi as official language in UN
  • Haj Pilgrimage
  • Expulsion of Indian journalists by Pakistan
  • Diplomats in Indian Missions Abroad
  • Ministry of Finance
  • Union Finance Minister to Hold Meeting with the Chief Executive Officers (CEOs) of Public Sector Banks and Financial Institutions on Comprehensive Financial Inclusion Plan and Other Issues Tomorrow
  • Min of Home Affairs
  • Review of Security Cover to VIPs
  • Claims for Freedom Fighter Pension
  • ILLICIT Drug Cultivation
  • Proposal to Restructure NDMA
  • Refugees and Illegal Migrants
  • Bharat Ratna for Major Dhyan Chand
  • Min of Human Resource Development
  • Institutions of Higher Education in Andhra Pradesh & Telangana
  • Uniform Regulatory Framework for Universities
  • Increase is Expenditure on School Education
  • Changes in Education System
  • Joint Executive MBA Programme of IIT Bombay & WUSIL
  • National Madarsa Modernization Programme
  • Reforms in Higher Education
  • Reason for Reverting to 3 Years Undergraduate Degree in Delhi University
  • Government to Formulate New Education Policy
  • Decrease in out of School Children
  • Minority Youths in Higher Education
  • Min of Labour & Employment
  • Steps Taken by the Government for Construction Workers
  • Amalgamation of Schemes
  • Revision of EPF Pension
  • Amendment to Archaic Factories Act, 1948
  • Labour Plantation Act, 1951
  • Safety at Workplaces
  • Welfare of Industrial Workers
  • Interest Rate on EPF
  • Min of Micro,Small & Medium Enterprises
  • Funding to MSME
  • Virtual Network for MSME
  • De-Reservation of Items from Small Scale Sector
  • Production in MSME
  • Growth in MSME Sector
  • Impetus to Young Entrepreneurs in MSME
  • Production/Export of Khadi
  • Indian Institute of Entrepreneurship
  • Min of Mines
  • Geological Survey of India
  • Development of Mining Areas
  • Mining of Iron Ore in Maharashtra
  • Min of Overseas Indian Affairs
  • Non- Resident Indians Investment Facilitation through Overseas Indian Facilitation Centres
  • Non- Resident Indians Investment Facilitation through Overseas Indian Facilitation Centres
  • Min of Personnel, Public Grievances & Pensions
  • Officials with Doubtful Integrity
  • Grievances of Pensioners
  • Performance Related Incentives
  • Eradication of Corruption
  • CBI Investigation
  • ACC Appointments
  • Min of Petroleum & Natural Gas
  • Press Release
  • Roadmap for Exploitation of Methane
  • Measures to Increase Exploration of Gas and Oil
  • Steps to Make Cities Kerosene Free
  • Fiscal Subsidy on Domestic LPG
  • Global crude oil price of Indian Basket increased to US$ 106.34 per bbl on 29.07.2014
  • Ministry of Railways
  • Ministry of Railways Clarifies that There is No Plan Whatsoever to Replace All Second Sleeper Coaches with AC Coaches in Mail and Express Trains
  • Min of Statistics & Programme Implementation
  • Provisional Results of Sixth Economic Census
  • Min of Steel
  • Iron-Ore Supplied by NMDC
  • Review of Safety and Security of Steel Plants
  • Min of Textiles
  • Santosh Gangwar Launches MIS for Skill Scheme
  • Ministry of Tourism
  • Steps taken to attract Foreign Tourists
  • Countering Negative Publicity of India in International Media
  • Foreign Tourists
  • National Mission to encourage Pilgrimage Tourism
  • Promotion of Cyclopean Walls in Rajgir, Bihar as Tourist Destination
  • India and Australian State of Victoria discuss further strengthening of bilateral cooperation in Tourism Sector
  • Min of Urban Development
  • 16 Former Ministers Served Eviction Notices For Unauthorized Stay; Owe Damage Charges of Rs.21 Lakhs Per Month
  • 16 Former Ministers Served Eviction Notices for Unauthorized Stay; Owe Damage Charges of Rs.21 Lakhs Per Month
  • Min of Youth Affairs & Sports
  • India won 10 medals on day 6 of CWG 2014

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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