New Delhi, Nov 1 (ANI): Prime Minister Dr. Manmohan Singh, who held a meeting with his new Council of Ministers at his official 7, Race Course Road residence here on Thursday, said the UPA Government's fundamental objective is inclusive growth.
"The UPA Government is now in its ninth year. We should take pride in the fact that, during this time, we have notched up significant achievements in the field of social and economic policy-making," said Dr. Singh in his opening remarks at the meeting of Council of Ministers.
"Flagship initiatives like the Mahatma Gandhi National Rural Employment Guarantee Scheme, the setting up of the Unique Identification Authority of India to provide every resident with an "Aadhaar" number to access social support services, Rural Health Mission, Jawahar Lal Nehru Urban Renewal Mission, Skill Development Mission and legislation bringing into effect the Right to Information and the Right to Education - these are only a few examples of the UPA Government's work in order to realize its fundamental objective of inclusive growth," he added.
Dr. Singh said 'we have also, during most of this time, enjoyed sustained and robust economic growth, which in turn has made possible the enhanced social sector spending necessary to support our initiatives in the fields of health, education, employment, agriculture and rural development and other vital areas'.
"While we should take justifiable pride in our successes, it is important to recognize that we are now also experiencing the fallout of difficult economic conditions worldwide. As a result, our growth has decelerated, our exports have fallen and our fiscal deficits are expanding. Of particular concern is the fiscal deficit, which is too high and acts as a deterrent for domestic and foreign investment. These issues have a rippling effect across the economy and on the work of many departments that are represented here," said Dr. Singh.
"In order to have a clearer appreciation of the macro-economic picture that we are faced with, I have also requested Finance Minister P. Chidambaram to share an assessment of the economic situation with us. My own view is that while we need not be unduly gloomy about our prospects, we certainly need to redouble our resolve to meet the challenges before us and rise to the task of governance," he added.
Dr. Singh further said that one area that is at the top of the agenda and will require particular attention and effort at multiple levels across government is infrastructure.
"During the Twelfth Plan, we have set ourselves a target of realizing nearly 1 trillion dollars of investment in infrastructure sectors. To do so, we will have to overcome the constraints that currently deter or slow down this investment. Fuel supply arrangements, security and environmental clearances and financing difficulties are among these constraints. The growing gap between demand and supply of energy has emerged as a major constraint on our development," said Dr. Singh.
" It is a major factor in widening the deficit on current account of our balance of payments as well as the fiscal deficit. It is imperative that we come to a common understanding on these issues and work out mechanisms and remedial measures that will enable us to tackle these critical deficiences on a priority basis," he added.
Asserting that the future holds great promise for India, Dr. Singh said: " We can achieve the targets we have set for ourselves, provided we approach the task with courage and with conviction. I am aware that we are working against the political calendar, but we should not lose sight of the fact that we are also involved in the task of nation-building."
"Our responsibilities and our commitment therefore need to transcend other considerations. I have no doubt that, in the time that is available to us, each one of you will bring your best efforts to complete the unfinished task before us and extend your support to all our colleagues across government in achieving the objectives we have set for ourselves," he added.
Dr. Singh further requested his senior Cabinet colleagues to make full use of the capacities and capabilities of their Ministers of State by assigning them substantive tasks.
"In addition, since a number of energetic and younger colleagues have now joined the Council of Ministers, I would also request my senior Cabinet colleagues to make full use of the capacities and capabilities of their Ministers of State by assigning them substantive tasks," he said.
This was the Prime Minister's first meeting with the Council of Ministers after the Cabinet reshuffle on Sunday, in which 22 members took oath.
The first meeting of the Council of Ministers was convened in May 2009, soon after the UPA-II government assumed office.
The Prime Minister convened another such meeting when junior ministers complained that seniors were not allocating them enough work. (ANI)