The PMEAC has suggested the government to dilute its stake in PSU banks to 51 percent.
Observing that the Indian economy was passing through a critical situation, Prime Minister`s Economic Advisor C Rangarajan today said government is taking steps to rectify it.
PMEAC said India needs to raise prices of subsidised fuels to achieve the budgeted fiscal deficit target of 4.6%.
Average inflation this fiscal may ease to 6% from about 9% at present.
The risk of soaring inflation making the economic rebound painful is highly likely.
Indian economy would expand by 8 percent during fiscal 2010-11 and return to the high growth trajectory of nine percent a year later, Prime Minister`s economic adviser C Rangarajan said on Friday.
The Prime Minister`s economic
panel on Tuesday said inflation is likely to cross RBI`s projection
and the central bank may take actions in December itself.
The Reserve Bank may take "some early action" if rising food prices do not ease in the coming weeks, PMEAC Chairman C Rangarajan said here today.
Amid speculations that RBI may buy
more gold from the IMF, the Prime minister`s economic advisory
panel has said the central bank should wait for some more time
before going for another round of purchases.
The Prime Minister`s Economic Advisory Council (PMEAC) Chairman C Rangarajan on Wednesday said the government should draw up a roadmap for divesting its stake in
state-run companies.
PM`s economic panel on Tuesday said the economy is likely to grow by 7% in the current fiscal.
The Prime Minister`s economic panel does not expect the Dubai debt crisis to trigger another meltdown in the world and has retained its forecast of Indian economic growth rate to 6.5 percent for the current fiscal.
The Prime Minister`s economic advisory panel expects the economy to grow by around 6.1 percent in the second quarter, the same as in the preceding three months, due to the impact of a weak monsoon on agriculture.
The Prime Minister`s Economic Advisory Council on Friday said the Dubai crisis would not affect the country`s growth rate, but admitted that remittances from the Gulf city-state may slow down.
The "most appropriate" timing for a gradual rollback of the fiscal stimulus package would be the next financial year, Chairman of the Prime Minister`s Economic Advisory Council C Rangarajan said on Wednesday.
Indian economy may grow by 6.75 percent during the current financial year, PMEAC said on Wednesday.
The Indian economy is unlikely to
return to nine per cent growth level in the near future as the
global slowdown may continue for some more time, says Prime
Minister`s Economic Advisory Council member Govinda Rao.
The RBI is not likely to hike interest rates in its monetary policy review on October 27 even as inflation is expected to rise to 6 per cent this fiscal-end from 0.7 per cent at present, the Prime Minister`s Economic Panel said.
Poor monsoon will have a dampening effect on the country`s economic growth rate and it could slide to six per cent during the current fiscal, Prime Minister`s Economic Advisory Council (PMEAC) C Rangarajan said here on Monday.
