Urging India to commit itself to poverty “elimination” instead of mere “alleviation”, President Pranab Mukherjee on Monday said that a lasting solution to the problem of poverty and inequality was generating gainful employment opportunities and creating a skilled labour force.
Inaugurating the centenary celebrations of the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) here, Mr. Mukherjee said the Centre’s focus on Make-in-India, Skilling India and Digital India were geared to achieve such an objective. He urged industries to lend a helping hand in taking these initiatives to their logical end by participating through their Corporate Social Responsibility activities.
Underscoring the importance of employment, he said, “The experience of developed economies in the past few years suggests that an economy at full employment, but with inflation higher than the normal, may be better positioned to withstand a bout of financial stress than the one that is flirting with deflation.”
Observing that India should regain the 8 per cent-plus level of growth rate soon, given its favourable macro-economic prospects, he said achieving higher growth rate was a potent tool to fight the scourge of poverty.
The proportion of population living below poverty line in the country had declined from 37.2 pre cent in 2004-05 to 21.9 per cent in 2011-12. About 85 million people had been lifted out of poverty during three years from 2009-10 to 2011-12, he pointed out.
Showering rich praises on Karnataka, he said it was one of the leading States, which was driving the country’s economy. Karnataka’s growth story mirrored the country’s growth journey, he observed.
Chief Minister Siddaramaiah said steps had been initiated to do away with the system of issuing trade licenses.
Governor Vajubhai R. Vala, FKCCI president Tallam R. Dwarakanath and its centenary celebrations committee Chairman K. Shiva Shanmugam spoke.
