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Union Budget to have far-reaching policies, futuristic visions, historic steps: President Murmu

President Droupadi Murmu on Thursday said the full Union Budget will have ‘far-reaching policies and futuristic visions.’ Finance Minister Nirmala Sitharaman is expected to present a full Budget during the third week of July.

“This Budget will be an effective document of the Government’s far-reaching policies and futuristic vision. Along with major economic and social decisions, many historic steps will also be seen in this Budget,” Murmu said while addressing the joint session of Parliament on the eve of the commencement of the 18th Lok Sabha. Further, she assured that the pace of reforms will be further accelerated, in tune with the aspirations of the people for rapid development.

Talking about holistic development, she said the present government believes that there should be healthy competition among the states to attract investors from all over the world. “This is the true spirit of competitive cooperative federalism. We will continue to move ahead with the belief that the development of the country lies in the development of the States,” she said.

She highlighted economic growth during the last 10 years of the Modi government. Attributing the mantra of  ‘Reform, Perform and Transform’ for making India the fastest growing economy in the world today, she said India is now the fifth largest economy. From 2021 to 2024, India has grown at an average rate of 8 per cent annually.  And this happened even after the biggest pandemic in 100 years.

Growth was achieved amidst the global pandemic and despite ongoing conflicts in different parts of the world. This was possible due to reforms and major decisions undertaken in the national interest in the last 10 years. Today, India alone contributes 15 per cent of global growth. Now, “my Government is striving to make India the third largest economy in the world. Achieving this goal will also strengthen the foundation of a developed India,” she said.

Talking about the rural economy, she said every aspect of this part has been given great emphasis. Agro-based industries, dairy and fishery-based industries are being expanded in villages. Here, too, cooperatives have been accorded priority.  The Government is creating a large network of Farmer Producer Organisations (FPOs) and cooperative organisations such as PACS. A major problem of small farmers is related to storage, which is why work has been commenced on a scheme to create the world’s largest storage capacity in the cooperative sector.

“To enable farmers to meet their small expenses, more than ₹3,20,000 crore has been disbursed under the PM-Kisan Samman Nidhi. In the initial days of its new term, my Government has transferred an amount of more than R ₹20,000 crore to farmers.  The Government has also effected a record increase in MSP for Kharif crops,” she said.

On health initiatives she said the present government is providing free health services to 55 crore beneficiaries under the Ayushman Bharat Yojana. The opening of 25,000 Jan Aushadhi Kendras is also progressing at a fast pace. Further, “the Government is to take yet another decision in this area. Now, all the elderly above 70 years of age will also be covered and get the benefit of free treatment under the Ayushman Bharat Yojana,” she said.


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