President K R Narayanan Monday committed the NDA government to second-generation reforms in his address to the two Houses of Parliament. However, there was no reference to labour reforms. The need for agricultural reforms formed a major part of his speech.
The President spelt out the tasks of the government: significantly increasing the investment rate, stepping up the productivity of capital assets, undertaking second-generation reforms, and deepening economic reforms in the states.
The President admitted the global slowdown had affected India.
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