We will alter policies to accelerate growth: PM
He said the government's action in correcting distortions in energy pricing, reducing diesel and LPG subsidies, was aimed to achieve this objective.
On recent decisions of cutting subsidies on diesel and LPG cylinders, Singh said subsidies on oil alone are more than what the government spends on health and education put together.
"We need to address these issues even as we ensure that the poor and the vulnerable are effectively protected," he said.
Singh said the government will do its best to promote Indian enterprise and ensure the well-being of all Indians, working classes and other segments of the society.
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