Japanese Prime Minister Yoshihiko Noda renewed his pledge to raise the nation's sales tax and revamp the social security system and called on reluctant opposition parties to help restore fiscal order in Japan for the good of generations to come.

In his policy speech on the opening day of the 150-day ordinary Diet session, the prime minister also said the government needs to rule more decisively and not procrastinate on key issues.

"We need to depart from indecisive politics," Noda said in his speech. "We can't keep on putting off debate on crucial national issues."

Noda was speaking of the political deadlock caused by his plans to double the 5 percent sales tax by 2015 to boost public finances and fund social security. Noda's ruling Democratic Party of Japan despite its own infighting over the issue, is facing staunch resistance to the tax hike plan from its opposition bloc who have boycotted parliamentary debates on the proposed bill.

But Noda said that if the political deadlock is not broken and the issue rumbles on, it will be to the detriment of Japan's economy -- with the fallout potentially lasting long into the future.

"As things stand right now, the burden will be too heavy for future generations," Noda said. "There's no time to put this off any longer. A politician shouldn't think just about the next election, but about the next generation," the premier said.

But the main opposition Liberal Democratic Party, which lost power to the now ruling DPJ in 2009, said Noda and his party are in contravention of their election pledges and should dissolve the lower house of parliament and call a snap election to let the public decide about the controversial and politically divisive tax issue.

"I do hope people will reach across party lines and join talks on the draft plan for the sake of the public and for the sake of the future of this country," Noda said, quoting the words of former LDP Prime Minister Taro Aso in a bid to sway the opinion of the opposition camp.

With Japan's public debt now at more than double the size of the nation's 5 trillion U.S. dollars economy, the worst in the industrialized world, Noda said that the stopgap measures repeatedly taken by his predecessors are no longer an effective solution and reaffirmed his pledge to submit a bill by end of March to raise the 5 percent sales tax in two stages to 8 percent in 2014 and 10 percent by 2015.

Noda also indicated in his speech that if Japan's finances are allowed to further deteriorate and the tax hike bill is not passed by the opposition-controlled upper house of parliament as a means to counter this, then Japan could find itself facing a eurozone- style of sovereign debt crisis.

The prime minister, who took office in September as Japan's sixth leader in five years, also said that Japan would seek to deepen its security alliance with the United States in the best interests of peace and stability in the Asia-Pacific region and wider global community.

He said that Japan would continue to monitor developments on the Korean Peninsular, while also seeking to improve bilateral relations with China.

"Stability and prosperity in the Asia-Pacific cannot be discussed without China playing a constructive role," Noda said.

"Leaders from both countries have frequently reaffirmed the policy of deepening our strategic, mutually beneficial relations. Now it is time to enrich that further, and strengthen cooperation to create a stable regional order," said the Japanese leader.

Regarding Japan's potential moves to cut oil imports from Iran as part of U.S.-led sanctions on Tehran, Noda said that Tokyo's response would be pragmatic and one which takes into account Japan 's post-March 11 economic burden and the potential influence sanctions may have on global oil prices.

"In principle, we will strive to reach a peaceful and diplomatic solution. We'll address the problem appropriately, while cooperating with other countries and taking into account the potential impact on the crude oil market and the Japanese economy, " said Noda.