Against the backdrop of a tough global situation and deficient monsoon likely to put further pressure on the economy, Prime Minister Manmohan Singh is set to outline the economic challenges in his Independence Day address to the nation on Wednesday.
A senior official from the prime minister’s office said: “The focus of this year’s address will be on economic challenges facing the country.”
He added the idea was to bring in sustained steps to revive economic growth in the current scenario and the speech would reflect this intent of the government.
In his new year message, Singh had identified eradicating poverty, hunger and illiteracy and providing gainful employment to all; economic security; energy security; ecological security and threats to the national security as five key challenges facing the government.
The ensuing Maharastra Budget may witness several tax relief for the dealers, traders and growers of agricultural and allied services.
Officials in the weather department said the monsoon is expected to be below normal because of the El-Nino effect