PM for new approaches to address challenges in economy

Jan 21, 2013 by

PM for new approaches to address challenges in economy

Source: Economic Times via Indian Economic Business News

Prime Minister Manmohan Singh underlined the need for new approaches to address challenges in infrastructure, education, energy, water and agriculture. In his inaugural address at the Pravasi Bharatiya Divas on January 8, the Prime Minister dwelt at length on the state of the economy and pointed out that despite the impressive performance and change on an enormous scale in the past two decades, India faced persisting challenges of poverty, equity, sustainability and opportunity. “Vulnerable sections of society, including our women, face enduring prejudices and continuing problems in a rapidly changing India,” he said. “Among the most positive stories out of India in recent years are the acceleration in the rate of poverty reduction, stronger growth in the poorest States and improved productivity and increased real wages in our agriculture sector. This is significant, given that 65 per cent of our population still relies on agriculture,” he noted. The country has just embarked on its 12th Five-Year Plan with the ambition to sustain an annual growth rate of 8 per cent. For this, we will require enormous resources, reforms in policies and institutions, new models of public-private partnership and community participation and innovation-driven science and technology.