President A P J Abdul Kalam on Sunday said the benefits of 'very robust and consistent' economic growth must speedily reach the rural population.

This can happen through 'development programmes such as PURA - Providing Urban Amenities in Rural Areas - and interlinking of rivers', Kalam said in his address to the nation on the eve of Republic Day.

Also Read Ensure peace, progress'll follow: Kalam Padma Shri for Ganguly, Dravid

"Economists all round the world predict that by the year 2020, the world's economic scenario will be completely different from what it is today, and that India will occupy a position of pride," he said.

Observing that the Indian economy had shown a very robust and consistent growth, indicated by an 8.4 per cent growth in the second quarter of 2003-04, he said, "Our foreign exchange reserves have crossed the $100billion mark and are continuously rising."

The stability of the rupee, the resurgence of the middle class and rise in the domestic buying power had made the Indian economy one of the fastest growing in the world.

He said bank interest rates needed to be more 'proactive' to stimulate growth of small, medium-scale and agro-food processing industries. A combination of entrepreneurship education in schools and colleges, hassle-free flow of venture capital and evolution of good markets would impart additional momentum for national growth.

Certain sectors of the Indian economy have matured enough to respond speedily to national and international needs and have shown steady growth despite adverse predictions, the President said. "Peace is a paramount ingredient for continuing our mission of national development and economic growth in the sub-continent,' he said.

The challenge before the people is to launch a major thrust for attaining national prosperity, the President said adding, "We should convert the present opportunity and work towards giving our future generations a competitive nation, which had certain (desirable) characteristics."

The multi-dimensional transformation needed for a competitive India include in the areas of prosperity, health, security, peace, happiness and in education, which should not be denied to any meritorious candidate because of social or economic discrimination, poverty alleviation, literacy and crime against women.