Amaravati/Hyderabad, Dec 23 (IANS): Andhra Pradesh and Telanagana Chief Ministers Y.S. Jagan Mohan Reddy and K. Chandrasekhar Rao on Wednesday virtually attended the second national committee meeting on 'Azadi ka Amrit Mahotsav' presided by Prime Minister Narendra Modi.

Jagan Mohan Reddy, in his speech, said the state would redouble its efforts to ensure the success of the 'Azadi ka Amrut Mahotsav'.

He called for laying emphasis on sustainable development and reduction of economic inequality to unleash the full potential of the nation.

"It is imperative that while the needs of the present are met through economic progress, the ability of the future generations to meet their needs should not be compromised," he said.

Stating that the energy sector plays a very key role in socio economic development, he called for formulating policies that would eventually lead to phasing out of coal-based power generation and enhanced reliance on renewable sources for energy needs.

He voiced concern over the economic growth not sufficiently trickling down to the poor in the country. "The recently published aWorld Inequality Report 2022' estimates that the top 10 per cent and top 1 per cent of the country's population hold 57 per cent and 22 per cent of the total National Income respectively. Income inequality would result in increased rural indebtedness, lower purchasing power and reduction in rural aggregate demand. This is a serious problem that deserves immediate attention from all of us as policy makers. In the light of the fragility, the interventions must be made more impactful by identifying and effectively addressing the bottlenecks and thereby making inclusive economic growth possible," he said .

Jagan Mohan Reddy described 'Azadi Ka Amrit Mahotsav' as one of the laudable initiatives to celebrate and commemorate the completion of 75 years of Independence. "This Mahotsav has rightly provided an occasion to rejoice the nation's glorious past, its cultural, social, economic and scientific achievements made during the admirable journey of 75 years and also to reaffirm our commitment to the nation's progress going forward," he said.