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12th Five-Year Plan (India)
12th Five Year Plan of the Government of India (2012–17) was India's last Five Year Plan. With the deteriorating global situation, the Deputy Chairman of the Planning Commission Mr Montek Singh Ahluwalia has said that achieving an average growth rate of 8 per cent in the next five years is not possible. The final growth target has been set at 8% by the endorsement of plan at the National Development Council (NDC) meeting held in New Delhi. "It is not possible to think of an average of 9 per cent (in 12th Plan). I think somewhere between 8 and 8.5 per cent is feasible", Mr Ahluwalia said on the sidelines of a conference of State Planning Boards and departments. The approached paper for the 12th Plan, approved last year, talked about an annual average growth rate of 9 per cent. "When I say feasible...that will require major effort. If you don't do that, there is no God given right to grow at 8 per cent. I think given that the world economy deteriorated very sharply over the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of India
The Government of India (ISO 15919, ISO: Bhārata Sarakāra, legally the Union Government or Union of India or the Central Government) is the national authority of the Republic of India, located in South Asia, consisting of States and union territories of India, 36 states and union territories. The government is led by the president of India (currently ) who largely exercises the executive powers, and selects the Prime Minister of India, prime minister of India and other ministers for aid and advice. Government has been formed by the The prime minister and their senior ministers belong to the Union Council of Ministers, its executive decision-making committee being the Cabinet (government), cabinet. The government, seated in New Delhi, has three primary branches: the legislature, the executive and the judiciary, whose powers are vested in bicameral Parliament of India, Union Council of Ministers (headed by prime minister), and the Supreme Court of India respectively, with a p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Montek Singh Ahluwalia
Montek Singh Ahluwalia (born 24 November 1943) is an Indian economist and civil servant who was the Deputy Chairman of the Planning Commission of India, a position which carried the rank of a Cabinet Minister. He resigned from this post in May 2014 following the impending end of the UPA II regime at the center. He was previously the first director of the Independent Evaluation Office at the International Monetary Fund. Early life and education Montek Singh Ahluwalia was born in Rawalpindi in 1943, the son of Jagmohan Singh, a clerk with the Defence Accounts Department, and Pushp Kaur. He studied at St. Patrick's High School, Secunderabad and Delhi Public School, Mathura Road. He graduated with a B.A. (Hons) degree from St. Stephen's College, Delhi, University of Delhi. He was a Rhodes scholar at the University of Oxford where he studied at Magdalen College, Oxford, as a graduate obtaining an M.A. in philosophy, politics and economics. He then read for an MPhil at St Antony' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Development Council (India)
The National Development Council (NDC) or ''Rashtriya Vikas Parishad'' is the apex body for decision creating and deliberations on development matters in India, presided over by the Prime Minister of India, Prime Minister. It was set up on 6 August 1952 to strengthen and mobilize the effort and resources of the nation in support of the Five Year Plans made by Planning Commission (India), Planning Commission, to promote common economic policies in all vital spheres, and to ensure the balanced and rapid development of all parts of the country. The Council comprises the Prime Minister, the Cabinet of India, Union Cabinet Ministers, Chief Minister (India), Chief Ministers of all States or their substitutes, representatives of the Union Territories and the members of the NITI Aayog (erstwhile Planning Commission). NDC (National Development Council) has been proposed to be abolished. But till date no resolution has been passed to abolish it. Since the inception of NITI Aayog's Gove ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Delhi
New Delhi (; ) is the Capital city, capital of India and a part of the Delhi, National Capital Territory of Delhi (NCT). New Delhi is the seat of all three branches of the Government of India, hosting the Rashtrapati Bhavan, New Parliament House, New Delhi, Sansad Bhavan, and the Supreme Court of India, Supreme Court. New Delhi is a Municipal governance in India, municipality within the NCT, administered by the New Delhi Municipal Council (NDMC), which covers mostly Lutyens' Delhi and a few adjacent areas. The municipal area is part of a larger List of districts in India, administrative district, the New Delhi district. Although colloquially ''Delhi'' and ''New Delhi'' are used interchangeably to refer to the National Capital Territory of Delhi, both are distinct entities, with the municipality and the New Delhi district forming a relatively small part within the megacity of Delhi. The National Capital Region (India), National Capital Region is an even larger entity, compris ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Growth
In economics, economic growth is an increase in the quantity and quality of the economic goods and Service (economics), services that a society Production (economics), produces. It can be measured as the increase in the inflation-adjusted Output (economics), output of an economy in a given year or over a period of time. The rate of growth is typically calculated as List of countries by real GDP growth rate, real gross domestic product (GDP) growth rate, List of countries by real GDP per capita growth, real GDP per capita growth rate or List of countries by GNI per capita growth, GNI per capita growth. The "rate" of economic growth refers to the Exponential growth, geometric annual rate of growth in GDP or GDP per capita between the first and the last year over a period of time. This growth rate represents the trend in the average level of GDP over the period, and ignores any fluctuations in the GDP around this trend. Growth is usually calculated in "real" value, which is real v ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Economy
The world economy or global economy is the economy of all humans in the world, referring to the global economic system, which includes all economic activities conducted both within and between nations, including production (economics), production, consumption (economics), consumption, management, economic management, Work (human activity), work in general, financial transactions and trade of goods and services. In some contexts, the two terms are distinct: the "international" or "global economy" is measured separately and distinguished from national economies, while the "world economy" is simply an aggregate of the separate countries' measurements. Beyond the minimum standard concerning value in production, use and exchange, the definitions, representations, models and valuations of the world economy vary widely. It is inseparable from the geography and ecology of planet Earth. It is common to limit questions of the world economy exclusively to Economics, human economic activit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Planning Commission (India)
The Planning Commission was an institution in the Government of India which formulated India's Five-Year Plans, among other functions. In his first Independence Day speech in 2014, Prime Minister Narendra Modi announced his intention to dissolve the Planning Commission. It has since been replaced by a new institution named NITI Aayog. History Rudimentary economic planning, deriving from the sovereign authority of the state, was first initiated in India in 1938 by Congress President Netaji Subhash Chandra Bose, Atul Tiwari, Pandit Jawaharlal Nehru who had been persuaded by Meghnad Saha to set up a National Planning Committee. M. Visvesvaraya had been elected head of the Planning Committee. Meghnad Saha approached him and requested him to step down, putting forward the argument that planning needed a reciprocity between science and politics. M. Visvesvaraya generously agreed and Jawaharlal Nehru was made head of the National Planning Committee. The so-called "British Ra ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prime Minister Of India
The prime minister of India (ISO 15919, ISO: ) is the head of government of the Republic of India. Executive authority is vested in the prime minister and his chosen Union Council of Ministers, Council of Ministers, despite the president of India being the nominal head of the executive. The prime minister has to be a member of one of the houses of bicameral Parliament of India, alongside heading the respective house. The prime minister and the cabinet are at all times responsible to the Lok Sabha. The prime minister is appointed by the president of India; however, the prime minister has to enjoy the confidence of the majority of Lok Sabha members, who are directly elected Elections in India#Parliamentary general elections (Lok Sabha), every five years, lest the prime minister shall resign. The prime minister can be a member of the Lok Sabha or the Rajya Sabha, the upper house of the parliament. The prime minister controls the selection and dismissal of members of the Union ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Suresh Tendulkar
Suresh D. Tendulkar (15 February 1939 – 21 June 2011) was an Indian economist and former chief of the National Statistical Commission. Tendulkar was a member of Prime Minister Manmohan Singh's Economic Advisory Council (PMEAC) from 2004 to 2008 and then served as its chairman from 2008 to 2009 when C. Rangarajan vacated the post to enter the Rajya Sabha. He died on 21 June 2011, as a result of cardiac arrest at Prayag Hospital, Pune (India). Early life Suresh Tendulkar completed his B.Com. from Pune University, where he secured the top rank in his batch. He was born in a Maharashtrian brahmin family He then completed his M.A. from the Delhi School of Economics, topping his batch once again. He went on to obtain a PhD in Economics from Harvard University. Career Tendulkar headed a namesake committee, The Suresh Tendulkar Committee, which was responsible for studying the portion of the population that lived below the poverty line (BPL). He also served as member of the Reser ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Poverty Line In India
Poverty in India remains a major challenge despite overall reductions in the last several decades as its economy grows. According to an International Monetary Fund paper, extreme poverty, defined by the World Bank as living on US$1.9 or less in purchasing power parity (PPP) terms, in India was as low as 0.8% in 2019, and the country managed to keep it at that level in 2020 despite the unprecedented COVID-19 outbreak. According to the World Bank, India experienced a significant decline in the prevalence of extreme poverty from 22.5% in 2011 to 10.2% in 2019. A working paper of the bank said rural poverty declined from 26.3% in 2011 to 11.6% in 2019. The decline in urban areas was from 14.2% to 6.3% in the same period. The poverty level in rural and urban areas went down by 14.7 and 7.9 percentage points, respectively. According to United Nations Development Programme administrator Achim Steiner, India lifted 271 million people out of extreme poverty in a 10-year time period ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Five-Year Plans Of India
The Five-Year Plans of India were a series of national development programmes implemented by the Government of India from 1951 to 2017. Inspired by the Soviet model, these plans aimed to promote balanced economic growth, reduce poverty and modernise key sectors such as agriculture, industry, infrastructure and education. The Planning Commission, chaired ex-officio by the prime minister, conceptualised and monitored the plans until its replacement by the NITI Aayog (National Institution for Transforming India) in 2015. The plans evolved to address changing developmental priorities, introducing innovations like the Gadgil formula in 1969 for transparent resource allocation to states. While the five-year plans significantly shaped India's economic trajectory, they were discontinued in 2017, transitioning to a more flexible framework under the NITI Aayog. History Five-Year Plans (FYPs) are centralized and integrated national socio-economic programs. Joseph Stalin implemented ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
