Problems within Country Affecting Economic Growth: PM

Although overall inflation fell to 6.87 percent in July, from 7.25 percent in June, the rate of rise in food prices was above 10 percent. While prices of vegetables were up 24 percent - on annual basis - eggs, meat and fish spurt 16 percent and pulses became costlier by 28.26 percent.

On drought-like conditions in some parts of the country because of deficient monsoon rains, Singh said the government has taken steps to deal with the situation and assured that the government has huge foodgrain stock.

"Our effort is to ensure that people do not face difficulty due to shortage of seeds, fodder or water in any part of the country. It is good that we have a big stock of foodgrains...and availability of foodgrains is not a problem," he added.

Singh said diesel subsidy is being provided to farmers in districts where there has been a rain deficit of 50 percent or more. That apart, the government has enhanced seed subsidy and allocated higher funds to boost fodder supply.

Recently, the EGoM on drought has approved about 2,000 crore primarily to four states (Karnataka, Maharashtra, Gujarat, Rajasthan) facing drought-like conditions.

On power supply, the Prime Minister said the target is to provide electricity to every household in the next five years and announced that steps will be taken to augment investment in infrastructure sector with the help of private sector.

The Prime Minister also informed that the 12th Five Year Plan would be considered by the National Development Council this year that suggests steps for raising the economic growth from 6.5 to 9 percent in the last year of the Plan (2016-17).

Singh also announced that to provide housing to urban poor, his government would soon launch the Rajiv Housing Loan Scheme, under which economically weaker sections would be given relief on interest on home loans of less than 5 lakh.