LIVE: President outlines Modi Sarkar's priorities in Parliament, says greatest challenge is to fight poverty

Government will also strategically promote labour-intensive manufacturing and expand job opportunities by promoting tourism and agro-based industries, he said, adding that employment exchanges would be transformed into Career Centres connecting youth with job opportunities through the use of technology, counselling and training.

Government will set up world class investment and industrial regions, particularly along the Dedicated Freight Corridors and Industrial Corridors spanning the country while encouraging domestic industry to innovate and collaborate internationally, he said.

“It will strive to move towards a single-window system of clearances both at the Centre and at the states through a hub-and-spoke model,” the President said.

To strengthen India's global trade share, procedures will be simplified and trade infrastructure strengthened to reduce transaction time and costs. Besides, export potential of small-scale and handicraft sectors will be encouraged, he said.

Terming the “lack of robust infrastructure” as a major impediment, he said government will chalk out an ambitious infrastructure development programme over the next 10 years.