President Patil says Govt. deeply concerned about inflation

NEW DELHI - President Pratibha Devisingh Patil on Monday said that the Government is deeply concerned over the adverse impact of inflation on the aam aadmi.

“My government is deeply concerned over the adverse impact of inflation on the aam aadmi and the threat it poses to the growth momentum. It has taken a number of pro-active measures to counteract the ill-effects of inflation,” President Patil said in her joint address to both houses of Parliament.

She said the Indian economy continues to be on a trajectory of high growth despite an adverse global environment. The policies we followed to handle the global financial meltdown stand vindicated. However, there is no room for complacency.

” We have to strive to make the domestic environment more conducive to investment, encouraging public as well as private investment, and domestic as well as foreign investment, particularly foreign direct investment. We have to maintain the momentum for reforms on a wide front,” she added.

She further said the government has already taken a number of proactive measures to counteract the adverse effects of inflation.

“The import regime has been liberalized to ease supply constraints of critical items. Exports of commodities like edible oils and pulses have been banned. Pulses are being supplied at subsidized prices through the public distribution system,’ she added.

She said the public sector units have been directed to open more retail outlets for selling vegetables to individual consumers.

“The issue prices for rice and wheat for the public distribution system have not been changed for the last eight years,” she said.

Emphasising that the long term solution lies in increasing productivity and production, President Patil said: “My Government has provided huge incentives to our farmers to produce more.

“We have continued to give incentives through the supply of fertilizers at subsidized prices. The new nutrient based system is likely to enhance the rational use of fertilizers,” she added.

She further said that the Rashtriya Krishi Vikas Yojana, has pumped in investment of around ‘ 35,000 crore in agriculture. The National Food Security Mission has taken the green revolution to Eastern India.

“Nearly one crore hectares have been brought under assured irrigation since 2005-06. Water conservation measures have been taken up on a war footing under the Mahatma Gandhi National Rural Employment Guarantee Act,” she added. (ANI)