India to become third biggest economy in world: President Droupadi Murmu to Parliament as budget session gets underway

Edited and posted by Al Ngullie
January 31,2025 01:09 PM
HORNBILL TV

President Droupadi Murmu on Thursday stated that with the efforts of the government, India is on track to become the third biggest economy in the world.

New Delhi [India], January 31 (HBTV): President Droupadi Murmu on Thursday stated that with the efforts of the government, India is on track to become the third biggest economy in the world. The president also reiterated the government's mantra: 'Sabka Sath, Sabka Vikas, Sabka Vishwas, Sabka Prayas'.

President Murmu addressed a joint sitting of the two Houses of Parliament, marking the commencement of this year's Budget Session. She arrived at Parliament in a horse-drawn buggy, followed by the national anthem.

'Two months ago, we celebrated 75 years of adopting our Constitution, and a few days ago, we completed 75 years as a nation. On behalf of all Indians, I bow to Babasaheb Ambedkar and all others in the Constitution Committee,' said President Murmu. She paid tribute to Baba Saheb Ambedkar, highlighting his role in shaping India’s Constitution.

The President expressed grief over the stampede during the ongoing Mahakumbh in Uttar Pradesh's Prayagraj, where 30 lives were lost. 'The historic Mahakumbh is also ongoing in the country. It is a festival of India's cultural identity and social enlightenment. Crores of devotees have already taken the holy dip. I express my grief over the incident during Mouni Amavasya. I pray for the speedy recovery of the injured,' she added.

President Murmu also paid her respects to former Prime Minister Manmohan Singh, who passed away last year. 'A few days earlier, we lost former Prime Minister Manmohan Singh. He served the nation as prime minister for ten years and was also a part of the Parliament for a long time. I pay my respects to Dr. Singh,' she said.

She further stated, 'Today, the country is witnessing significant decisions being made swiftly. These decisions focus on women, youth, the middle class, and farmers.'

The President highlighted the government's efforts to provide homes through the Pradhan Mantri Awaas Yojana, with a commitment to constructing three crore more houses. 'My government is committed to fulfilling the dream of the middle class of owning a home,' she said. Additionally, under the Ayushman Bharat Scheme, six crore senior citizens aged 70 and above will receive health insurance, offering a cover of INR 5 lakh annually.

Following the President's address, Union Finance Minister Nirmala Sitharaman will table the Economic Survey in Parliament ahead of the Union Budget presentation on February 1. The Economic Survey, prepared by the Economic Division of the Ministry of Finance, provides insights into the economy's current state and projections for 2024-25. It may also offer a glimpse into the tone of the upcoming budget.

The Union Budget will be presented on February 1, with the Finance Minister delivering the budget speech in the Lok Sabha at 11 am, outlining fiscal policies, revenue and expenditure proposals, and taxation reforms.

The budget session of Parliament will run from January 31 to April 4.

(ANI)