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English Release 26-November 2014
Date Month Year
  • President's Secretariat
  • Quality-oriented education can transform India into one of the leading nations of the world, says President
  • Speech by the President of India, Shri Pranab Mukherjee at the Eleventh Convocation of Symbiosis International University
  • Deepen private sector involvement in education, says President
  • President of India condoles the passing away of Sitara Devi
  • Prime Minister's Office
  • PM's bilateral engagements on the sidelines of the SAARC Summit
  • Speech by the Prime Minister at the SAARC Summit
  • 26/11: PM salutes the bravery of security personnel who laid down their lives and reaffirms commitment to combat terrorism
  • Department of Space
  • Commercial Application of Space Technology
  • Achievements in Space Science
  • Min for Develop. of North-East Region
  • Balance of Trade in North-Eastern Region
  • Min of Commerce & Industry
  • Implementation of National Design Polic
  • Extension Of Validity Of Industrial Licences By DIP
  • Steps Taken To Improve Position In Business Index
  • Schemes for Promotion and Modernization Of Industrial Unit
  • Implementation of National Manufacturing Polic
  • Push To Manufacturing Sector
  • Doubling India's Share in Global Trade
  • Boosting Industrial Production
  • Signing Of FTAs
  • New Foreign Trade Policy to address slowdown concerns of exporters: Commerce Secretary
  • Min of Earth Science
  • Forecasting of Natural Calamities
  • Global Warming
  • Min of Health and Family Welfare
  • ‘Delhi Declaration’ at closing of PPD International Conference focuses on Youth to harness Demographic Dividend
  • Min of Home Affairs
  • West Bengal Protection of Interest of Depositors in Financial Establishment Bill for Presidential Assent
  • Releasing of Undertrials who have Served Half of Maximum Sentence
  • NSG HUBS
  • Identifying Citizens While Preparing NPR
  • Hoisting of National Flag Permanently in Connaught Place, Delhi
  • Floods in Jammu and Kashmir
  • Crimes Against Women and Children in Delhi and NCR
  • Rise in Overstay of Pakistani Nationals
  • No Output on ISIS trying to Gain Ground in Kashmir
  • Decline in Terrorism and Infiltration
  • Compensation to Victims of 1984 Anti-Sikh Riots
  • No Cap for receiving contribution under FCRA
  • Min of Human Resource Development
  • Improving Learning Outcome in the Country
  • Gender Sensitization on Campuses Across the Country
  • Providing Quality Literacy to All
  • Re-Structuring of UGC
  • Min of Information & Broadcasting
  • IDPA signs a 5-year contract with DD National to showcase documentary films from across the country
  • Directorial debut ‘ Ek Hazarachi Note’ enters competition category of IFFI, 2014
  • Role of Changing Technology in Cinema: A Discussion
  • Songs of the Bards of Bengal: The Bauls and Fakirs: An Attempt to Preserve the Tradition
  • Bodhon: An Experiment to Define Motherhood
  • Justice C.K.Prasad, Retd. Judge of the Supreme Court of India appointed as Chairman Press Council of India
  • Rituals can create an ‘Experiential sphere’ different from conventional audio-visual theatre says the award winning Sinhalese director IndikaFerdinando
  • Candles in the Wind: Struggle of Women
  • Film is a tool of Social Reform: Sabyasachi Mohapatra
  • Min of Micro,Small & Medium Enterprises
  • KVIC Exhibitions Outside India
  • Investment in MSME Run by Small Entrepreneurs
  • Cooperation with Cote D’ivoire in Sme Sector
  • Khadi Gramodyog
  • Min of Mines
  • Study for Exploration of Rare Earth Element
  • Mines and Minerals (Development and Regulation) Bill
  • Min of New and Renewable Energy
  • Balance of Trade in North-Eastern Region
  • Min of Overseas Indian Affairs
  • Rehabilitation Package for Migrant Indians
  • Emigration Fee
  • Min of Personnel, Public Grievances & Pensions
  • Public Grievance
  • Procedure for Communication
  • Representation of OBC/SC/ST in Higher Officer
  • Amending Rules for Safeguarding Women
  • Appointment of SPG Director
  • Min of Petroleum & Natural Gas
  • Increasing CNG Filling Stations in Delhi
  • Setting Up of Refinery in Rajasthan
  • LPG Connections in Rural Areas
  • Digitization of Files and Data
  • Global crude oil price of Indian Basket was US$ 76.91 per bbl on 25.11.2014
  • Ministry of Railways
  • Railways to Run Six Special Trains to Clear Extra Rush for Mahaparinibban Divas
  • Min of Science & Technology
  • Academy of Scientific and Innovative Research
  • Extension in Retirement Age of Scientists
  • Environment Friendly Technologies
  • Min of Shipping
  • Workshop on Integrated National Waterways Transportation Grid Inaugurated
  • New Mechanism of Collection of Light Dues for Container Ships
  • Min of Social Justice & Empowerment
  • Development of Persons with Disabilities
  • Benefits to Disabled
  • Development of Persons with Disabilities
  • Ramp Facility for Physically Challenged
  • Data on Mentally Retarded Persons
  • Min of Steel
  • Measures to Increase Steel Production
  • Mines Allotted to KIOCL in Karnataka
  • Min of Tribal Affairs
  • Jual Oram inaugurates Tribal Art and Crafts Mela Aadishilp
  • Min of Urban Development
  • Shri M.Venkaiah Naidu approves enhancement of Ground Coverage and FAR in Delhi
  • DMRC’s Revenues Exceed Budget Targets
  • Ministry of Water Resources
  • Uma Bharti will Review the Working of her Ministry on Weekly Basis
  • Min of Skill Development, Entrepreneurship, Youth Affairs and Sports
  • Text of Speech of Sarbanand Sonowal
  • Boxer Sarita Devi issue Discussed
  • Sarbananda Sonowal confers Arjuna Award 2014 to Boxer Manoj Kumar

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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