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Centre committed to inclusive, equitable growth: Mukherjee | Union Finance Minster Pranab Mukherjee said here on Friday that the UPA Government is committed to ensuring inclusive and equitable growth of the country's economy. Addressing the 88th annual function of the Associated Chambers
of Commerce and Industry of India (ASSOCHAM), Mukherjee said: "The present Government
has a renewed mandate for reinforcing inclusive growth, for which the architecture
was laid out by the present Government in its last term. It is a mandate for equitable
development, where all legitimate aspirations of the people of India can be meaningfully
realized." " However, it is important that we take every such step that will allow
our economy to develop spatially and synergistically across different sectors
of the economy to ensure the overall sustainability of the growth process and
a quality of life that the 'Aam Admi' aspires for," Mukherjee added. He said in
a globalizing world, the challenges and opportunities of development, in general,
and that of sustaining high growth over an extended period of time, in particular,
have become more complex. Mukherjee added that the economic slowdown and recession
in major developed economies adversely impacted growth in all parts of the world.
"It revealed critical gaps in international policy making and regulation, in risk
management and international development cooperation. It also raised a number
of questions on the process of international decision making and accountability
that have a direct bearing on the global economic environment for the developing
countries," he said. In his address Mukherjee stressed on the need of having strong
domestic economic foundations to benefit from the ongoing process of globalization
and called for setting up of an integrated and a coherent policy approach to protect
and promote national interests. "We have to deepen and broaden the domestic market
so that we can ride the shocks and uncertainties of the global economy just as
well as the periods of expansion and boom. This requires that we take a balanced
broad based approach to our development process- an approach that is well captured
by the idea of garland of grids," Mukherjee said. Mukherjee opined that with the
help of huge young human resources and the demographic advantage country should
work to make the 21st Century a truly Indian Century.
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