Montek stresses steps to reduce poverty

Concerned with the high poverty level despite a growing economy, Planning Commission Deputy Chairman Montek Singh Ahluwalia today suggested that a legislation on setting up an independent statistical body was needed to measure and tackle poverty.

Poverty alleviation would be the key agenda during the Eleventh Plan (starting 2007), Ahluwalia told a gathering of economists after releasing a book, "The Great Indian Debate", edited by Angus Deaton and Valerie Kozel.

Speaking on the mining sector, Ahluwalia said regulations governing the sector would have to be reviewed to make it more investor-friendly and for which, the government had decided to constitute a four-member committee.

Planning Commission Member Anwarul Hoda would head the committee which would have six months to come up with suggestions, he informed.

The suggestions will include ways to rejuvenate the mining sector, including simplifying procedures to attract more private investment, assessing taxation problems and sorting out issues raised by states.

Certain states have reserved large mines for public exploration where private participation can also be allowed.

On taxation, Ahluwalia said, mining was not attractive for private investors as some clarifications were needed for the joint ventures on which the committee was expected to give suggestions.