The Indian government would unveil a major initiative in the next 10 days to enhance the total public investment in agriculture and push the rural growth to greater levels.
Prime Minister Manmohan Singh said on Tuesday that the initiative will "not only enhance the total public investment in agriculture, but will also enable states to resolve problems of agriculture through comprehensive localised plans."
The prime minister said that India is headed for a fifth successive year of 8.5 per cent plus growth, made possible by investment rates hitting an all-time high of 35 per cent of the national income.
In a report marking the completion of three years by the United Progressive Alliance (UPA) government, Singh sought to allay concerns that the present growth phase had left out vast sections of the population or accentuated regional imbalances.
"The UPA government has been promoting an inclusive growth strategy," Singh said saying "this has been done through stepping up investments in rural infrastructure and agriculture."
Besides, he said, the government is focused on increasing credit availability to farmers and offering them remunerative price for their produce, besides putting in place the National Rural Employment Guarantee Programme and enhancing public spends on education and healthcare.
"Through Bharat Nirman, we expect to invest Rs 1,74,000 crore in rural roads, housing, drinking water supply, irrigation, electrification and telecommunication," he said.
Further, the prime minister said, the budgetary allocation for education has been nearly trebled in three years to Rs 32,000 crore (Rs 320 billion) in 2007-08, while that for health and family welfare more than doubled to Rs 17,560 crore (Rs 175.60 billion).
In agriculture and rural development, funding has been stepped up to over Rs 60,000 crore (Rs 600 billion) this fiscal, he pointed out.
Though the prime minister admitted that the growth processes 'unleashed' by his Government had put 'some pressure' on prices, 'credible steps' had been taken to control inflation.
