ADDRESS LD ECONOMY 2 LAST

The President pointed out that the huge quantum of
investment in infrastructure sector cannot be funded by the
state alone.
"The government has put in place the required framework
for a transparent public-private sector partnership. The
contribution of the private sector has reached 34 per cent
of the total investment in infrastructure last year", she
said.
The President said while pursuing the objective of
sustained economic development, the government would ensure
that "the poor, the weak and the disadvantaged get a fair
share in the fruits of growth".
Referring to the Indian telecom story, she said the
country had the second largest wireless network in the world
and the government would make concerted efforts to take mobile
and broadband services to the rural areas.
The government, she added, would provide incentives
for FM radio operations in Jammu and Kashmir, the North
Eastern States and island territories.
In order to ensure power at reasonable rates to all,
Patil underlined the need for reforms, particularly to improve
the financial and technical capabilities of the electricity
distribution companies in the states.
She said the government has already operationalised the
National Solar Mission with a view to adding 20,000 MW of
solar capacity by 2020.
Describing the mineral wealth a vital national resource,
the President said, the Mines and Minerals (Development and
Regulation) Act would be replaced by a new law to ensure that
"local communities benefit adequately from the development
process".
As regards the oil sector, she said, the government is
encouraging the national companies to "aggressively pursue oil
and gas opportunities overseas".
The ninth round of the New Exploration Licensing Policy,
she added, has been launched to harness the hydrocarbon
potential of the country. PTI