Government is committed to put India back on high growth path - Shri Pranab Mukherjee, President of India

President of India Shri Pranab Mukherjee on 9th June 2014, addressed the joint sitting of the two houses of parliament, outlining the priorities & policies of the new government led by Shri Narendra Modi. Terming the current economic situation as "extremely difficult", the President expressed the government's commitment to put India back on high growth path, while containing inflation and making tax regime non-adversarial.

1. Government is determined to rid the country of the scourge of corruption and the menace of black money. As a first step in this direction, the government has already constituted a SIT to unearth black money stashed abroad. This will be followed up vigorously by proactively engaging with foreign governments.

2. On the economic front, we are passing through an extremely difficult phase. For two consecutive years, our GDP growth has been less than 5 per cent. Tax collection has declined. Inflation continues to be at an unacceptable level. Thus, putting the Indian economy back on track is paramount for the government. We will work together to usher our economy into a high growth path, rein in inflation, reignite the investment cycle, accelerate job creation and restore the confidence of the domestic as well as international community in our economy.

3. Government will create a policy environment which is predictable, transparent and fair. It will embark on rationalisation and simplification of the tax regime to make it non-adversarial and conducive to investment, enterprise and growth. Government will make every effort to introduce the GST while addressing the concerns of States. Reforms will be undertaken to enhance the ease of doing business. Government will follow a policy of encouraging investments, including through FDI; which will be allowed in sectors that help create jobs and assets.