Challenges gallore, but nothing seems impossible: Pranab
India is at a stage where it faces many serious challenges but "nothing seems impossible to do or achieve", Union Finance Minister Pranab Mukherjee observed today.
March 27, 2011 / 11:32 IST
India is at a stage where it faces many serious challenges but "nothing seems impossible to do or achieve", Union Finance Minister Pranab Mukherjee observed today.
"There are many serious challenges that confront us and need to be tackled if we are to emerge as a developed country at the end of the decade," Mukherjee said at the convocation ceremony of Sidho-Kanu University here.The country''s growth story which began at one level in the early 1980s has picked up steam in the past decade, he said adding "It has now ceased being a mere miracle. It has subsumed the nation''s collective mood and thought.""The challenge is to analyse the developments scientifically, regulate and guide them where required and ride them progressively keeping the greater good of the greater number in mind."In the globalised world challenges and opportunities of development in general and that of sustaining high power over an extended period of time in particular had become more complex."The growing influence of global developments on our domestic concerns makes it necessary for us to use all our resources and policy options to serve our larger political and economical interests, at both national and international levels," he added.Mukherjee stressed on building and sustaining an economy where the growing capabilities and rising aspirations of individuals would match the expanding set of opportunities for people to enjoy. "The economy should be able to support productive employment for all those who enter the labour force," he said adding benefits of economic growth had to percolate down effectively to the most marginalised and vulnerable segment of the population for whom "we need to not only bring down the incidence of poverty but bring it down quickly.""There is also a challenge of making our economy and the society technologically innovative," he said and stressed on basic research and technolgical innovations.
"With our resources, especially the human resources and the demographic advantage that comes with having a younger population, we are uniquely placed at this juncture to make the 21st century a truly Indian century. For that we need to continue to build on our global linkages with our trade partners and potential markets. However, the recent global events have amply demonstrated that one has to be cautious in traversing this path," he said. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
