taking steps to deal with the factors responsible for the slowdown.
"Inflation is easing gradually but is still a problem. In recent months, there have been positive developments too. There has been a moderation in core inflation and recovery in growth is likely. Policy measures announced during the year have also restored optimism at home and abroad," he said.
"My government has announced a road map for fiscal consolidation by containing the current year�s fiscal deficit at 5.3 per cent of the GDP. The Government is also working with State Governments to reach a consensus on the Goods and Services Tax," he said.
In his speech, he also referred to the enactment of a "path-breaking" the Protection of Children from Sexual Offences Act, providing for stringent punishment for persons who commit or abet such offences.
The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Bill has already been passed by Lok Sabha for ensuring a safe and secure environment for women in work places.
"My Government is also deeply concerned about incidents of sexual offences against women. After considering the recommendations of the Justice J.S. Verma Committee, the Government has promulgated an ordinance, amending the criminal law to provide for stringent punishment for heinous sexual offences against women.
"The Government has also begun to implement a series of administrative measures to improve the safety and security of women in the country," the President said.
