Listing the priorities of Narendra Modi-led NDA government at the Centre, President Mukherjee said, “....putting the Indian economy back on track is paramount for my government. We will work together to usher our economy into high growth path, rein in inflation, reignite the investment cycle, accelerate job creation and restore the confidence of domestic as well as international community in our economy.”

In his address to the joint sitting of Parliament, the President said the Indian economy is passing through an extremely difficult phase.

“For the two consecutive years, our GDP growth has been less than five percent. Tax collection has declined. Inflation continues to be at an unacceptable level,” he said.

Referring to the high food inflation, he said the new government will give ‘top most priority’ to contain it.

The government, he added, will take effective steps to prevent hoarding and black marketing and reform the public distribution system, incorporating best practices from the states.
     
The President further said the government is alert about the possibility of a subnormal monsoon this year and is in the process of preparing contingency plan to deal with the situation.

(JPN)

Latest News from India News Desk