Planning Commission: hike investment rate to 35.1 pc for 9pc growth
New Delhi: The Planning Commission has said that 8-9 per cent growth in the 11th Plan beginning next year would not be possible without hiking investment rate by 6 per cent from the present level of 29.1 per cent of GDP.

The panel said the required investment of 35.1 per cent was much lower than the investment rate reported in China. The higher level of investment has to be financed by some combination of increased domestic savings and increased foreign savings, which meant more foreign direct investment into the country.

The total domestic savings rate must spiral to 32.3 per cent from 27.1 per cent the draft approach paper said the growth of household and corporate savings would be determined by behavorial parameters, given the growth of income and GDP.
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New Companies Act soon
Lucknow: To check irregularities and ensure transparency in the corporate sector, a new Companies' Act would be enacted in place of the existing one, according to union minister for company affairs Premchand Gupta. He said that the existing act was enacted in 1956 and has become outdated.

The bill regarding this would be introduced in the winter session of Parliament. The new act proposes to bring transparency in company affairs besides checking irregularities and scams, he said.

The ministry has received J J Rani Committee report and soon a new act would come into force, which would be "so simple that even a layman could understand it", the minister said adding that the number of provisions in it would be half of the 786 provisions in the existing act.
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Pension bill in next parliamentary session
New Delhi: The central; government said it will try for a political consensus on pension reforms to enable smooth passage of the legislation for setting up a pension regulator in the monsoon session of Parliament.

An understanding has to be fully evolved for the smooth passage of the legislation, called Pension Fund Regulatory and Development Authority (PFRDA) Bill, in parliament for which attempts are being made, the official said.

The Left parties have opposed the PFRDA Bill saying it was against the new pension system with only defined contribution and no assured returns. The members of the Left parties in the parliamentary standing committee had given dissent notes on the bill even though the committee had recommended its passage with certain modifications.
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