President Pranab Mukherjee today said that innovation is the key to growth and development. He said that innovative ideas can give solutions to challenges in the various areas like Health, Education, Water, Energy and food security. He was addressing a gathering after receiving the second annual report from the National Innovation Council Chairman Sam Pitroda at the Rashtrapati Bhavan.

Mr Mukharjee said that India's 550 million population is below the age of 25 and there is need to harness their innovation capabilities effectively to meet the basic human needs. Lauding the work of National Innovation Council, the President said it is playing an important role in shaping the next decade of Innovation.

President Mukherjee said that there is a need to bring forward innovative ideas in sustainable manner. He said an affordable and sustainable solution is needed to face the various challenges. He stressed the need for qualitative work for the inclusive growth. He said the government has already earmarked five hundred crore rupees for the development of innovative ideas and 100 crores rupees have already been provided for this purpose. He said small and medium enterprises' productivity needs to be optimised.

The President said that results of the initiatives taken by the government can only be fruitful if it provides jobs to the youth. On this occasion, Telecom Minister Kapil Sibal said that government is committed to connect two hundred fifty thousand Panchayats with broadband so that an information and knowledge network can be made available to the rural people of the country.