Free from the Left obstacles this time, the Government on Thursday unveiled its reforms plan in the financial sector and PSU disinvestment, coupled with measures to tackle the economic slowdown by focusing on sectors hit by global recession and boosting public investment.
While pursuing reforms, the pension and financial sectors and disinvestment in PSUs would be the priority areas for the UPA government.
"The current financial year is expected to see a slowing down of growth on account of the global recession ... Our immediate priority must be to focus on management of the economy that will counter the effect of the global slowdown by a combination of sectoral and macro-level policies," president Pratibha Patil said in her address to Parliament.
Her address, presenting the agenda of the new Government, said the focus would be on adversely-affected sectors like infrastructure, exports, small and medium enterprises, and housing to restore the growth momentum.
As promised by the Congress party, the government would enact a new law providing for 25 kg of rice and wheat per month at Rs 3 a kg to all families below the poverty line (BPL).
"This legislation will also be used to bring about broader systemic reforms in the Public Distribution System," she said.