President Murmu highlights major economic achievements in Lok Sabha address

President on India’s economic growth: In her address to the Lok Sabha preceding the Interim Budget 2024, President Droupadi Murmu underscored a decade of unprecedented economic growth that has firmly positioned India on the global stage. The President's speech highlighted key milestones across various sectors, painting a portrait of a nation making remarkable strides in its economic journey.

Over the past decade, the country’s economic trajectory has seen a remarkable transformation, propelling the nation from the 'fragile five' to one of the world's leading economies. This journey is underscored by substantial growth across key indicators, reaffirming the impact of strategic decisions on the country's economic landscape.

Exports from the country reflect a strong surge, surging from $450 billion to $750 billion, indicative of India's expanding global trade footprint. Foreign Direct Investment (FDI) has witnessed a doubling over the same period, attracting increased international capital and fostering economic development.

Khadi products, reflecting a focus on India's cultural heritage, have experienced an extraordinary fourfold growth, showcasing a resurgence in traditional industries. 

President also underlined the Income Tax Return (ITR) filings which have surged from 3.25 crore to a substantial 8.25 crore. GST submissions have also seen a substantial rise, with numbers soaring from 98 lakh in 2017 to an impressive 1 crore 40 lakh, highlighting the broader tax base and improved revenue collection. 

The total vehicle sales have increased from 13 crore in 2017-18 to 21 crore in the last fiscal year, including a noteworthy increase in electric vehicles from 10,000 in 2018-19 to 15 lakh in the last fiscal year up to December.

Integral economic reforms, such as the 'One Nation One Task' law, have contributed to streamlining processes, fostering efficiency, and ensuring a unified approach to national development. Microeconomic stability measures have further fortified the economic foundation, creating an environment conducive to sustained growth.

The past decade has also seen a substantial increase in capital expenditure (capex), reaching an impressive 10 lakh crore, indicative of substantial investments in infrastructure and development projects. 

In the banking sector, Non-Performing Assets (NPAs) have witnessed a remarkable decline, transitioning from double digits to a commendable 4 per cent, signifying improved financial health and prudent fiscal management. 

Furthermore, the President shed light on the socio-economic transformation, stating that 25 crore people had emerged from poverty in the last decade. The focus on justice rather than punishment in the criminal justice system reflected a commitment to a more equitable society.

Focus on Amrit Mahotsav

The President began her address by acknowledging the monumental celebrations of the Amrit Mahotsave, signifying India's enduring spirit and rich heritage. The installation of the Subhash Chandra Bose statue and the inclusion of the Shanti Niketan and Vimla Mandir in the world heritage list was cited as cultural achievements contributing to the nation's soft power.

The successful G20 participation further solidified India's global standing, showcasing its commitment to strengthening international ties.

Sporting achievements, such as the historic 100+ medals at the Asian Games, infrastructure developments, and the fastest 5G rollout, are some of the holistic developments that we saw in front of our eyes, the President said.

President Draupadi Murmu's address painted a vivid picture of India's decade of economic prosperity, encapsulating achievements across diverse sectors. As the nation navigates the challenges of the future, these milestones serve as a testament to India's resilience, determination, and growing influence on the global stage.