The key challenges before India

Finance Minister Pranab Mukherjee while presenting Budget 2009-10 in Lok Sabha on Monday has said that the government has clearly recognized and identified the challenges to boost Indian economy especially at a time when the world is still struggling with an unprecedented financial crisis and an economic slowdown that has also affected India.

Elaborating on challenges, the minister pointed out that the first challenge is to lead the economy back to the high GDP growth rate of 9 percent per annum at the earliest.

Growth of income is important in itself, but it is as important for the resources that it brings in. These resources provide us with the means to bridge the critical gaps that remain in our development efforts, particularly with regard to the welfare of the vulnerable segments of our population.

Mukherjee said that the second challenge is to deepen and broaden the agenda for inclusive development; and to ensure that no individual community or region is denied the opportunity to participate in and benefit from the development process.

The third challenge, he said, is to re-energize government and improve delivery mechanisms. Out institutions must provide high quality public services, security and the rule of law to all citizens with transparency and accountability.