Popular News From Popular Sites: In peril under India's new PM, a vestige of Soviet-style planning

Sunday, June 29, 2014

In peril under India's new PM, a vestige of Soviet-style planning

India's PM Modi comes out of a meeting room to receive his Bhutanese counterpart Tobgay before the start of their bilateral meeting in New Delhi By Rajesh Kumar Singh NEW DELHI (Reuters) - Indian Prime Minister Narendra Modi never had a high opinion of the Planning Commission, an institutional vestige of the country's attempts to mimic the Soviet command economy during the infancy of its independence more than half a century ago. In a signal that the end could be nigh for what has remained a sacred cow of policymaking despite many years of market-oriented economic reforms that began in the 1990s, a government-backed report last week suggested dismantling the Planning Commission and replacing it with a think tank. "Since the Planning Commission has defied attempts to reform it to bring it in line with the needs of a modern economy and the trend of empowering the states, it is proposed that the Planning Commission be abolished," the Independent Evaluation Office (IEO) said in a report. A Planning Commission spokesman declined to comment.




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