Key Takeaways
- India has become the 5th largest economy in the world, surpassing its 11th-ranked position 10 years ago.
- The average annual growth rate of India’s economy is 8 percent, from 2021 to 2024.
- The Modi 3.0 Government aims to make India a developed nation and the 3rd largest economy in the world.
New Delhi: The resolve to “Reform, Perform and Transform” by the Modi-led government in the last 10 years has made India the fastest-growing an ffith largest economy in the world, President Droupadi Murmu said on on Thursday.
Addressing the first joint session of the 18th Lok Sabha, Murmu said India has improved its position sharply from being the 11th-ranked economy ten years back.
“From 2021 to 2024, India has grown at an average rate of 8 percent annually. And this growth has not been achieved under usual circumstances. In recent years, we have seen the biggest pandemic in 100 years,” the President said, highlighting that the pace of reforms will be further accelerated in tune with the aspirations of the people of India for rapid development.
President Murmu said the recent Lok Sabha poll has been an election of trust in policy, intention, dedication and decision.
“The people of this country voted for the Trust in a strong and decisive Government; Trust in good governance, stability and continuity; Trust in honesty and hard work; Trust in security and prosperity; Trust in Government’s guarantees and delivery; Trust in India’s resolve to be Viksit Bharat,” she said.
“It is a stamp of approval for my Government’s mission of service and good governance undertaken in the past 10 years,” the President said adding the Modi dispensation got the mandate so that its work of making India a developed nation continued uninterrupted and the nation attained its goal of Viksit Bharat (developed India).
The President appreciated the previous government for its work during the most difficult period of the pandemic, saying India achieved the economic growth amidst the global pandemic and despite ongoing conflicts in different parts of the world.
In the past decade, the government has undertaken significant reforms and made key decisions to achieve this economic growth. Reforms and decisions have been crucial in making India a growing economy.
“Today, India alone is contributing 15 percent of the global growth. Now, my Government is striving to make India the 3rd largest economy in the world,” she added.
President Murmu also set the tone for the forthcoming Budget of the Modi 3.0 Government next month. “Along with major economic and social decisions, many historic steps will also be seen in this budget. The pace of reforms will be further accelerated in tune with the aspirations of people of India for rapid development.”
