Noting that the country is passing through an “extremely difficult phase” on the economic front, the President said that GDP growth has been less than five per cent, tax collection has declined and inflation continues to be at an “unacceptable” level.
“Thus, putting the Indian economy back on track is paramount for my government. We will work together to usher our economy into 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,” he said.
In this context, he said the government will create a policy environment which is “predictable, transparent and fair”.
