Finance Minister, Pranab Mukherjee has said that the surging pace of economic growth can only be maintained when the poor section of India gets access to bank accounts and thus the financial system.

Banks and other organizations like mobile phone companies have been urged by the finance minister to come up with innovative ways to reach out to the financially excluded segments of the country and thereby reach its goal of attaining total financial inclusion in the country.

"Financial inclusion is a necessary part of our growth process," Mukherjee said.

"The entire economic system in our country needs to work together on this," Mukherjee said.

In order to bring in better accessibility of banking facilities and other benefits to the Indian population, the government has started with the UID project. The UID project would be instrumental in economic development of the country by giving unique identity numbers to 1.2 billion population of the country.