'Writing off some debt of Air India, could be a wise move', Panagriya
The Dollar Business Bureau Niti Aayog’s outgoing Vice Chairman Arvind Panagariya has said ‘writing off some debt of Air India, so as to make it attractive to prospective investors, could be a "wise" move.’ Niti Aayog had suggested to the government to privatise the public carrier and a committee was set up under Finance Minister Arun Jaitley to carry forward the process. "I don't know whether you need to write off debt to find a buyer, I don't know the market. Transaction advisers are competent on that," Panagariya told Press Trust of India in an interview. "I am just saying that it's probably wise to write off part of the debt before this happens (privatisation of Air India)," he added. Regarding the need for asset ...
Panagariya resigns from NITI Aayog, to return to teaching
The Dollar Business Bureau Arvind Panagriya has resigned as the Vice Chairman of NITI Aayog, after serving for two-and-a-half years at the country’s revamped planning commission. He resigned from the post today after heading a meeting. Panagariya has hinted that he is likely to go back to teaching and could join the Columbia University. He is likely to be relieved from his post on August 31. NITI (National Institution for Transforming India) Aayog came into effect on January 1, 2015, replacing the Planning Commission. It was created as a premier 'think tank', meant to frame policies for the Indian Government, giving directional as well as policy inputs. Panagariya was handpicked by Prime Minister Narendra Modi to head the NITI Aayog just after its creation. Like the previous Planning Commission, the Prime Minister is the Chairman of the Aayog. Panagariya, has a PhD in ...
NITI to merge 15-yr vision document, 7-yr strategy paper
The Dollar Business Bureau NITI Aayog, the Government think-tank, has decided to combine the 15-year vision document with 7-year medium-term strategy paper to bring out a comprehensive roadmap to accelerate the economic growth. “We are thinking of having a brief chapter regarding the vision in the 7-year strategy paper which will be a bulky document outlining the action plan for expediting growth. The vision document will be aspirational, about the kind of country we want to build...The kind of society we want to be in. It will be a kind of vision for the future,” Arvind Panagariya, Vice-Chairman, NITI Aayog told the media. Panagariya said that the Aayog has got reactions from around 10 states on the 3-year action agenda draft and will conclude it within 2 weeks. Earlier, the Government think thank had ...
Nitis 3-year agenda suggests key reforms to bolster economy
The Dollar Business Bureau The Niti Aayog has released a three-year draft action agenda suggesting reforms in taxation, agriculture and energy sectors. The agenda, released by Vice-Chairman Arvind Panagriya, moots these pointers with an intention of growth-acceleration, infusing employment opportunities, besides calling for limiting the government’s role in activities that do not serve a public purpose. A major reform was announced by the Aayog in the agriculture sector. It sought to double the income of farmers by 2022 by way of increasing productivity through irrigation, faster seed replacement and precise farming. Also suggested were reforms in the APMC (Agriculture Produce Marketing Committee) to enable farmers to get competitive rates. Farmers, however, should also shift to high-value commodities and businesses such as animal husbandry ...
NITI member Bibek Debroy suggests to tax agriculture income
The Dollar Business Bureau Member of NITI Aayog and noted economist, Bibek Debroy on Tuesday made a strong case to tax agriculture income, a view contrary to the specified position of the government. Moreover, the government's think tank member also suggested removing exemptions on the personal income tax for increasing the tax base from around 37 million in 1.3 billion population. “On expanding the base on the personal income tax side, other than elimination of exemptions, is to also tax rural sector, including agriculture income above certain threshold,” he told reporters in a press conference. The taxation on rural sector is a politically sensitive matter and the successive governments have abstained from imposition tax on agriculture income. Recently on March 22, Finance Minister Arun Jaitley ...
Economy to grow over 3-fold to $7.25 trn by 2030: Niti
PTI The Indian economy will see an over three-fold expansion at $7.25 trillion by 2030 and clock an average growth rate of 8% over the next 15 years, Niti Aayog vice chairman Arvind Panagariya said on Sunday. In a presentation made at its Governing Council meeting -- chaired by Prime Minister Narendra Modi and attended by 28 state chief ministers -- here on Sunday, the government think-tank projected the size of the Indian economy. "Our base GDP is large. If we grow at an 8% average rate for the next 15 years, our GDP will be Rs 469 lakh crore by 2030 (around USD 7.25 trillion)," Panagariya told reporters. The country's GDP stood at around $2.11 trillion in 2015-16, he said. He was briefing ...
Irani provides a major boost to the NE sericulture industry
The Dollar Business Bureau Beginning January 29, 2017, a two-day Investors’ summit themed “Exploring Opportunities in North East Region” has been organised by the Minister of Development of North Eastern Region (DoNER) and the Ministry of Textiles in Shillong. The event focusses on the Textile Industry and its associated sectors. On the first day of the summit, Rs.1040 crore was allocated for textile based projects like handicrafts, sericulture, handloom, apparel and garments by the Minister of Textiles, Smriti Irani. North Eastern Textile Industry received Rs.820 crore for sericulture related projects from the Ministry. Speaking to the media, the minister said sericulture related projects in the region would provide employment opportunities to many. The Minister also stated that around four lakh people mostly women would ...
World Economic Forum begins today; Union Mins Sitharaman & Gadkari, CM Naidu to attend
PTI World's rich and powerful people, including over 100 from India, as well as government heads from the UK, China, Pakistan and Bangladesh will be in this Swiss ski resort for 5-day WEF Annual Meeting beginning on Monday to hold discussions on global economy and need for a 'responsive and responsible leadership'.Union Ministers Nitin Gadkari and Nirmala Sitharaman, Niti Aayog's Arvind Panagariya, DIPP Secretary Ramesh Abhishek and Andhra Chief Minister Chandrababu Naidu are among the prominent attendees from India at the elite talkfest, where Modi government's demonetisation move, as also the fear of 'de-globalisation' in the wake of Trump Presidency in the US, will be among key topics of discussion.There will be a special session on India where the panelists will ...
