‘India to become 3rd biggest economy in world’: President Murmu as budget session gets under way

NEW DELHI: President Droupadi Murmu on Friday stated that with the efforts of the government, India is going to become the third biggest economy in the world. The President said, “My government’s mantra is ‘Sabka Sath, Sabka Vikas, Sabka Vishwas, Sabka Prayas’.

President Droupadi Murmu was addressing a joint sitting of the two Houses of Parliament, marking the beginning of this year’s Budget Session. Murmu, after arriving in Parliament in a horse-drawn buggy, started her address, followed by the national anthem.

“Two months ago, we celebrated the 75 years of adopting our constitution and a few days ago, we completed our journey of 75 years… On behalf of all Indians, I bow down to Babasaheb Ambedkar and all others in the Constitution Committee”, President Murmu said.

She also paid respect to Babasaheb Amedkar. “I pay respect to Babasaheb Ambedkar and all the makers of Constitution”. While expressing grief over the stampede in the ongoing Mahakumbh in Uttar Pradesh’s Prayagraj, where 30 people lost their lives, she said, “The historic Maha Kumbh is also going on in the country. Maha Kumbh is a festival of India’s cultural identity and social enlightment. Crores of devotees have already taken the holy dip in Maha Kumbh. I express grif over the incident happened in the Mouni Amavaasya. I pray for the speedy recovery of the injured”.

On the occasion, she also remembered former Prime Minister Manmohan Singh, who passed away last year. “A few days ago, 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 respect to Dr. Singh”, Murmu said. “Today the country is witnessing big decisions being taken in a swift manner. In these decisions, women, youths, middle class and farmers are getting primary attention,” she added.

“My government has taken strong steps to provide Awaas through Pradhan Mantri Awaas Yojna. The government has also decided to provide 3 crore more houses under this scheme. My government is committed to fulfilling the dream of the middle class of having their own house”, the President said.

“Under the Ayushman Bharat Scheme, it has been decided to provide health insurance to six crore senior citizens aged 70 years and above. Every year they will get a health cover of 5 lakh rupees,” she added.

Followed by the President’s address, Union Finance Minister Nirmala Sitharaman will table the Economic Survey ahead of the presentation of the Union Budget on Saturday. It would be tabled in Lok Sabha at 12 noon and in Rajya Sabha at 2 pm.

The Economic Survey document, prepared by the Economic Division of the Department of Economic Affairs in the Ministry of Finance and formulated under the supervision of the chief economic adviser, gives insights into the state of the economy and various indicators of 2024-25 (April-March) and some outlook for the next fiscal.

The Economic Survey document, prepared by the Economic Division of the Department of Economic Affairs in the Ministry of Finance and formulated under the supervision of the chief economic adviser, gives insights into the state of the economy and various indicators of 2024-25 (April-March) and some outlook for the next fiscal. The document may also give some idea about the tone and texture of the actual budget for 2025-26, to be presented on Saturday.

The budget will be presented on February 1. On budget day, the Finance Minister will present the Union Budget in the Lok Sabha at 11 am. The budget speech will outline the government’s fiscal policies, revenue and expenditure proposals, taxation reforms, and other significant announcements.

Notably, the budget session of parliament began on January 31 and, according to schedule, will end on April 4. (ANI)