Noting that excessive pessimism has hurt the growth process in the country, the Prime minister said, the government has acted to reverse the cycle of negative expectations and stimulate investment. Dr Singh said, despite several challenges, poverty in the country has declined at a pace never seen in the past two hundred years.
The Prime Minister said that Centre is rolling out AADHAR based services that will help transfer benefits directly into bank account of beneficiaries thus eliminating middlemen and reducing corruption. He said targeted subsidies have an important role in softening the harsh edges of extreme poverty. Dr. Singh said the government's endeavour is to ensure that all marginalised groups and regions are included in the growth process in the mainstream economy.
Dr. Singh further said, the setting up of the Cabinet Committee on Investment will help to issue clearances for major projects in a time bound manner. He also assured the industry that two ambitious tax reforms -- Direct Taxes Code and Goods and Services Tax -- are high on the government's priority list. He urged the private sector to play a more active role in research and development, education, skill development and health.
