New Delhi, Dec 31: The President, Vice President and Prime Minister greeted the nation on the eve of New Year, asking people to gear up to face new challenges.

"As the sun rises over 2008, may this New Year bring peace, prosperity and happiness to everyone," President Pratibha Patil said in her message.

The First Citizen also asked countrymen to work for the betterment of the nation and do their "little bit in making the world a better place by helping the underprivileged and the needy".

As the dawn of the New Year ushers "new hopes and expectations", Vice President Mohd Hamid Ansari reminded people of the "immense challenges" to be tackled in the next year.

"As millions of our citizens face the immense challenges of poverty, illiteracy and ill health, we should resolve to tackle these on a priority basis," he said.

"The hopes and expectations of becoming a developed nation free from these problems, where every citizen can fully realise one's potential, can only be fulfilled when we resolve to work in unison with dedication and commitment," he said.

Greeting people, Prime Minister Manmohan Singh said this is the time to reflect upon the year bygone, upon successes, achievements and mistakes. It also gives us a chance to set new goals, he noted.

"It is a time for stocktaking and making a new start in achieving our individual and collective goals. As a nation, it is time to rejoice in our democratic traditions and brace ourselves for future challenges," he said.

"I wish 2008 brings peace, security and prosperity for the people world over," he added.