PM to take stock of economy, rising prices at Plan panel meet
New Delhi: The full Planning Commission, chaired by Prime Minister Manmohan Singh, will discuss on September 1 the state of economy that is under pressure from drought and rising prices of food items.
Besides chalking out the strategy to combat the impact of drought, which has already hit 252 out of about 600 districts, which may pull down the economic growth to about 6 percent, the meeting will also review the implementation of the integrated energy policy.
In addition to Plan panel Deputy Chairman Montek Singh Ahluwalia and its regular members, the meeting will also be attended by over a dozen ministers including Pranab Mukherjee, Sharad Pawar, P Chidambaram, Murli Deora and Prime Minister`s economic adviser C Rangarajan.
Hit hard by the drought, the economy, which is still reeling under the impact of the global financial meltdown, is estimated to grow by a little over 6 percent, down from 6.7 percent in the previous fiscal.
Finance Minister Pranab Mukherjee had said drought could reduce `Kharif` (summer crop) output by up to 20 percent this year.
Admitting the poor monsoon will affect prices, Singh told reporters on Saturday, "no one has control over drought. It`s a severe drought. If you look at numbers, it`s in many parts (and naturally) it affects prices."
Reserve Bank of India (RBI) in its recent report has warned that deficient monsoon and the possible adverse effects on agriculture output may not only put pressure on food prices but also raise the demand for more subsidies and relief measures.
The Integrated Energy Policy (IEP), which was approved by the cabinet last December, has made about 110 suggestions, of which action has been taken on only 29.
The IEP had also recommended more liberalised regime for setting up captive and group captive power generation units.
The proposal faced opposition from the state electricity boards which feared that the move would leave them with small and agriculture consumers.
The other important issue likely to come up during the meeting pertains to providing power subsidy to low income households.
The Planning Commission has been suggesting that subsidy should be given in cash to below poverty line (BPL) families.
The IEP has recommended the nothing should be charged for 30 units of electricity consumed by low income household per month. The policy also suggests introduction of debit cards for giving such subsidy.
More from India
More from World
More from Sports
More from Entertaiment
- PM Modi speaks at Golden Jubilee celebrations of poet Dinkar’s works
- Vadodara: Policemen seen dancing with bar girls
- Coal scam: Naveen Jindal, Madhu Koda and others get bail
- DNA: IAF Mirage 2000 fighter plane lands successfully on Yamuna expressway
- One year of Modi govt: Arun Jaitley addresses press conference
- Zee Media Exclusive: Kangana, Madhavan talk about their film 'Tanu Weds Manu Returns'
- DNA: Osama documents show 'Indian brother in Madinah' financed al Qaeda
- ISIS executes Syrian fighter using anti-tank rocket launcher
- DNA: Harmful chemicals found in Maggi, Nestle India still in denial mode
- Zee Media Exclusive interview with Congress leader Kamal Nath
- CM Kejriwal shortlists 39 'unwanted' IAS officers in Delhi
- Columbia student takes rape-protest mattress to graduation
- Mumbai: One injured in shootout at Film City
- Delhi: Car catches fire after crash, one dead
- DNA: Modi-led NDA govt's hits and misses in one year
- Jayalalithaa makes public appearance, meets Governor: As it happened
- Mumbai firm booked for denying Muslim MBA graduate job on religious grounds, probe ordered
- Geelani's passport application incomplete, cannot be processed: MEA
- IPL 2015, Qualifier 2: CSK vs RCB - As it happened...
- India to soon have its own space shuttle!
- Kejriwal slams notification on LG's powers, says Modi running Delhi govt through back door
- WBBSE 10th Madhyamik Results 2015: West Bengal Board (wbbse.org & wbresults.nic.in) Class 10th Madhyamik Pariksha Results 2015 to be announced on May 22
- Tanu Weds Manu Returns movie review: Brilliant execution, superb performance!
- Don't know what will happen to my career, says Ranbir Kapoor
- Manohar Parrikar meets troops at Siachen base camp
- Wbbse.org 10th Madhyamik Pariksha Results 2015: West Bengal Board (wbresults.nic.in) Class 10th, WB MP Results 2015 to be announced today shortly
- Businessman shot next to Amitabh Bachchan's shooting location in Mumbai Film City
- West Bengal Board (wbbse.org & wbresults.nic.in) Class 10th Madhyamik Pariksha (MP) Results 2015 to be announced today at 10 AM
- After land bill, net neutrality, Rahul Gandhi to fight for ex-servicemen now
- RBSE 12th Results 2015 (rajeduboard.nic.in & rajresults.nic.in): Rajasthan Board BSER Ajmer Senior Secondary Class 12th XII Intermediate Science & Commerce Exam Results 2015 to be declared today on May 22