Sharing concern over rising prices particularly food articles, President A P J Abdul Kalam on Friday said the government would take all steps to keep inflation under check while ensuring job-oriented nine per cent growth during 11th Plan period.
"In recent months the rate of inflation has shown upward trend. My government will continue to take all necessary steps to ensure that the poor are not adversely affected by inflation. This is our solemn commitment," President said in his address to the joint sitting of the Parliament.
He said the economic growth was not an end in itself and the government would strive to distribute incomes more equitably across social groups and regions.
The government would make all efforts to "liberate the poorest of the poor from the scourge of poverty, ignorance and disease," Kalam said.
Referring to the recent controversies over land acquisition for industrial development, the President said the government was committed to bring in a new rehabilitation policy to be backed by the required amendments in the Land Acquisition Act.
Lauding six per cent growth in the agrarian sector in 2005-06, Kalam stressed the need for sustaining the trend but expressed concern over farmers committing suicides in various parts of the country.
"A special package amounting to more than Rs 16,000 crore (Rs 160 billion) is being implemented in 31 districts worst affected by farmers suicides. An expert group is looking into the problems of agricultural indebtedness and will suggest measures to provide relief to farmers in distress," he said.
Pointing out that wheat production has been low the President said the government has taken measures to replenish the stock to control rise in prices.
"My government is committed to providing food security to the poor and is taking further steps to strengthen the public distribution system," Kalam said adding the minimum support prices for wheat and coarse cereals have been enhanced as an incentive for higher production.
Emphasising the need for a national consensus on energy pricing and distribution policy, he said the government would encourage new investment in power generation.
Competitive tariff bids have already been approved for setting up of two ultra mega power projects. "Further efforts in this direction will continue," he added.
He said the government has taken important steps to develop the full potential of civilian nuclear energy and all sources of renewable energy, for meeting energy needs and to address concerns on environment.
Complementing the 11 per cent growth in manufacturing sector backed by performance of key sector, the President said the government has prepared an automotive mission plan 2006-2016 to provide the framework for growth of the auto sector in the country.
The industrial sector has benefited from increased inflows of FDI, which has exceeded $10 billion overtaking the FII inflows for the first time ever.
