President Droupadi Murmu began the Budget Session 2024 with her address in Parliament on Wednesday. The President delivered the address in a joint sitting of Lok Sabha and Rajya Sabha at the Lok Sabha chamber in the new Parliament building. 


"I wish you all the best. India's GDP has grown above 7.5 per cent since the last two quarters," the President said, applauding the country for its achievements. "The inflation rate was at 8 per cent in 10 years before 2014, now in last ten years, it has come down to 5.10 per cent," she said.


"We are seeing poverty eradicate for the first time at a large level. About 25 crore people were lifted out of poverty during my government's tenure," the President said in her address. 


The President also lauded India for securing a place in the top 5 economies in the world. "Our banking system today has become one of the strongest in the world. Make in India and Atmanirbhar Bharat have become our strengths today. Mobile manufacturing has increased by over 5 per cent," she said.


"Youth power, women power, farmers, and the poor are the four pillars on which the developed economy will be built," the President said. "Since COVID-19, 80 crore people are getting free ration. 4 crore poor family got 'pakka' houses," she added.


"Digital India has surpassed even the developed countries in digital infrastructure. Digital India has made business, banking and trading easy. UPI is being used by other countries also. In UPI, 1,200 crore transactions were done last month," the President added. Under Ayushman Bharat, she said that 53 crore people have got their digital ids made.


The President said, "Tejas has become our strength," and applauded the forces and noted that the defence production crossed the 1 lakh crore mark. "The government is building modern infra on our borders. Our forces giving befitting reply to terrorism and expansionism. The meaningful results of my government's efforts for internal peace are in front of us. There is an atmosphere of security and safety in Jammu &Kashmir. There has been a huge drop in incidents of naxal violence," she noted.


Regarding the business environment, she said, "Continuous improvement has been made for ease of doing business. Tax is more transparent now. People are working more in MSME today. Credit guarantee scheme worth Rs 5 lakh crore have been given to the MSME sector."




"In 2014-15, nearly 2000 EVs were sold (in the country). However, by December 2023, nearly 15 lakhs have been sold. In the last 10 years, my government has made good governance and transparency the basis of every system. This is the reason why we have seen several economic developments," said President Droupadi Murmu.



On helping the women become independent and successful in the country, the President said, "Today women are fighter pilots also. More than 31 crore loans under the Mudra scheme were given to women. Govt helped 10 crore women get financially independent."


About the achievements of the agriculture sector, the President said, "Rs 11 lakh crore have been spent in two years to ensure fertilisers are given to farmers at subsidised prices. Fishermen and animal husbandry received the benefit of the Kisan Credit scheme."


"My Government has also taken care of those who were far away from development, so far. In the last 10 years, electricity and road connectivity reached for the first time in thousands of tribal villages. Lakhs of tribal families have started getting clean water through pipelines only now. Under a special drive, my government is taking 4G internet connectivity to thousands of tribal-dominated villages...In tribal families, several generations have suffered from sickle cell anaemia. For the first time, a national mission has been started for this. Around 1.40 crore have had checkups under this, so far," President Murmu noted.




"Tourism is a sector that provides employment opportunities to the youth. A record number of tourists are reaching the northeast region. There is excitement among people about the Andaman Islands and Lakshadweep....Around 13 lakh devotees have taken darshan at Ayodhya Dham after 'Pran Pratishtha'. Today Lakshadweep is connected with underwater fiber," the President added. 

 

On the education front, the President said, "Students drop out rate have reduced. Girls are enrolling more in higher education. Admission of SC students increased by 65 per cent and OBC by 44 per cent."



"G20 actually showed India's potential to world," she stated.


"Today my govt is working on a big vision, it includes the vision for the next 5 years. For us economic development is not enough, we will give importance to social, and cultural development as well. National and global agencies today are assured of India’s development. The world today trusts that India can only strengthen the global supply chain. My government started PLI schemes for 14 sectors and disbursed Rs 14 lakh crore for the scheme." the President said.


"Today we are focusing on green energy. Solar power capacity has increased by 26 per cent, and wind power capacity has doubled. We stand 4th in the world in renewable energy capacity, 4th in wind power capacity, and 5th in solar power capacity. We have started two projects in Ladakh and Daman Diu in hydrogen energy. We will reduce our energy dependence on foreign nations. Oil production has recently started in the Bay of Bengal," she said.


"The construction of the Ram Temple (in Ayodhya) has been a dream since centuries. It is a reality now," said President Droupadi Murmu.


The Budget session of the Parliament began on Wednesday, a day before Union Finance Minister Nirmala Sitharaman is scheduled to present the Interim Budget 2024 on February 1. This Budget will mark the sixth Budget presented by Sitharaman in a row. 


The Interim Budget will be a ‘vote-on-account’. To ensure continuity in the system and avoid any sort of hold in administration and operations, the ‘vote on account’ comes into play. This feature plays a crucial role in making sure that the nation’s engines keep running smoothly. The vote-on-account is a temporary measure and gives the new government the authority to use the funds from the Consolidated Fund of India for a limited period, typically two months, to oversee the immediate expenses, like salaries and ongoing welfare programs. 


The Finance Minister will also table the Budget for Jammu & Kashmir (J&K), which is under President’s Rule. The Budget Session is scheduled to have eight sittings overall. The session will conclude on February 9, 2024. 


Before the session, an all-party meeting was held the government on January 30, 2024, and was attended by 45 representatives from 30 parties, including the BJP.


Also Read :  Explained: How Does Interim Budget Differ From The Regular? The Full Role Of Vote On Account