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Wednesday, July 24, 2024

Historic Steps Expected in Upcoming Union Budget, Says Prez Murmu

President Droupadi Murmu, addressing a joint sitting of the Parliament on Thursday, said that the newly formed National Democratic Alliance (NDA) government’s first budget will be futuristic and will facilitate fast-tracked reforms.

Delivering her first presidential address after the formation of the third NDA government, Murmu said that major economic and social decisions, along with historical steps, will be announced in this year’s Union Budget.

She said, “In the upcoming sessions, this government is going to present the first budget of this term. This budget will be an effective document of the government’s far-reaching policies and futuristic vision. Along with big economic and social decisions, many historic steps will also be seen in this budget.”

Murmu also said that the government was working towards making India the third-largest economy in the world. “The pledge of reform, perform, and transform has made India the fastest-growing economy in the world. In 10 years, India rose from the 11th position to become the 5th largest economy…Despite a pandemic and conflicts in different parts of the world, India has been able to achieve this growth rate. This became possible due to the reforms and decisions taken in the national interest in the last 10 years. Today, India contributes to 15% of the global growth. My Government is working towards making India the 3rd largest economy in the world,” the President said.

President Draupadi Murmu stated that India’s economy grew the fastest among the world’s major countries, averaging 8% growth over the past four years.

The International Monetary Fund predicts India’s growth will be 6.8% for 2024-25.

Next month, the government will present the 2024-25 budget, outlining its plan to make India a developed country by 2047, Murmu said in her speech to lawmakers.

After the President’s speech, members of both the Lok Sabha and Rajya Sabha will discuss a motion of thanks.

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