Budget 2024: In the address of the budget session, the President said – Indian economy is growing rapidly amidst serious crises.
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budget 2024: The budget session of Parliament started from today. President Draupadi Murmu (Draupadi Murmu) said in his address to the Parliament that amidst the serious crisis across the world, India is the fastest growing economy and the economic growth rate in the last two consecutive quarters has been seven and a half percent. It is noteworthy that in the first quarter of the current financial year 2023-24, the Gross Domestic Product (GDP)’s growth rate has been 7.8 percent. Whereas in the second quarter of July-September, the economy grew at the rate of 7.6 percent. Addressing the joint meeting of Lok Sabha and Rajya Sabha on the first day of the budget session, he said that earlier India was included among the five most fragile economies. Today we have become the fifth largest economy in the world. India is the fastest growing economy amidst serious crisis across the world. He said that earlier the inflation rate in the country used to be in double digits, which is now four percent.
India’s strongest banking system in the world
President Draupadi Murmu said on the banking sector that earlier our banking system was in ruins, but today we are one of the strongest banking systems in the world. Today the non-performing assets (NPAs) of banks are only four percent. The whole world is adopting India’s digital model and UPI payment. The grand edifice of developed India will stand on four pillars – youth power, women power, farmers and the poor. The government is continuously working to strengthen these four pillars. Referring to the priorities of the government, the President said that work is continuing on the front of ‘Reform, Perform and Transform’. The government is working on increasing the income of farmers. Farmers got Rs 280 thousand crore under PM Kisan Yojana. Started purchasing of oilseeds and pulses under MSP. Co-operation is being promoted in agriculture.
Crores of countrymen got employment in MSME
Addressing the Parliament, President Draupadi Murmu said that crores of countrymen got employment in MSME. Today lakhs of MSMEs are registered. Earlier India used to import even small toys. Today it has become self-reliant. India’s growth rate has been more than 7.5% for two consecutive quarters. India got its largest sea bridge, Atal Setu. India got its first Namo Bharat train and first Amrit Bharat train. Indian airline company made the world’s largest aircraft deal. Today every Indian is proud to see the indigenously built aircraft carrier INS Vikrant.
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