The National Democratic Alliance
(NDA) government led by Prime Minister Narendra Modi
intends to promote-labour intensive manufacturing and make curbing food
inflation a top priority as it works to reverse a decline in economic growth to
sub-5% levels for two years in a row. President Pranab Mukherjee spelled
out the new government’s economic agenda in his address to the joint session of
Parliament on Monday after the 16th Lok Sabha was constituted.
Mukherjee said the economy was
passing through an “extremely difficult phase” and putting it back on track was
a “paramount” objective of 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,” Mukherjee said.
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