"Markets will increasingly become the arbitrators of resource allocation in many cases. At the same time, it is necessary to realise that markets can at times lead to marginalisation of the poor and the vulnerable. We must not forget that markets serve those who are part of the market system", he said addressing bureaucrats from across the country on the occasion of Civil Services Day.
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Singh emphatically stated that market signals "cannot have significance" for millions of people living on the edge of subsistence, with little in the form of assets or skills to be active participants in the evolving market economy.
"While markets can facilitate higher growth, a government must ensure that growth is equitable, inclusive and not unduly harsh on those not equipped to manage change. Ensuring and assuring equitable and sustainable growth is, therefore, an important challenge before the government and its managers" he said.
Asserting that the civil service has to reorient itself and be trained to deliver better services to the people, the Prime Minister put several posers before the bureaucrats, including whether the present method of recruitment was appropriate for inducting the right persons into government.
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