After unleashing big bang reforms measures in the last two days, he said it will take "courage and some risks" to break the policy logjam and strongly favoured higher FDI an FII flows.
Justifying the diesel price, Singh said rational energy pricing was critical and "our energy prices are out of line with world prices".
In his opening remarks at the full Planning Commission meeting for approving the 12th Plan document, the Prime Minister spoke of three economic scenarios of "strong inclusive growth", "insufficient action" and "policy logjam" and said the country needed close to one trillion dollar investment in infrastructure sector during the period.
Outlining the three scenarios introduced in the Plan document, he said Scenario I called "strong inclusive growth" presents what is possible if the policy actions mentioned in the Plan are substantially implemented.
"I believe that we can make Scenario I possible. It will take courage and some risks but it should be our endeavour to ensure that it materialises. The country deserves no less," he said. (More)