Home / News / India /  India among fastest-growing economies despite pandemic: President Murmu

India is among the fastest-growing major economies due to “timely and pro-active" interventions from the government, president Droupadi Murmu said while addressing the nation on the eve of the 74th Republic Day.

“This has been made possible by timely and pro-active interventions from the government. ‘Atmanirbhar Bharat’ initiative, has evoked great response among people at large. There’ve also been sector-specific incentive schemes,“ he said.

In her first Republic Day speech, president Droupadi Murmu said that in India’s mission of ‘Sarvodaya’, the most encouraging progress as noticeable on the economic front.

She said, “Last year, India became the fifth largest economy in the world. It needs to be underlined that this achievement comes against the backdrop of high economic uncertainties around the world."

Meanwhile, according to the first advance estimates by the National Statistical Office (NSO), the Indian economy is expected to grow 7.0% in the current financial year.

Remembering Mahatma Gandhi’s ideal of ‘Sarvodaya’, the upliftment of all, the President said that we realise that much remains to be done, however, the progress India has made on all fronts is encouraging.

“In our mission of ‘Sarvodaya’, the most encouraging has been the progress made on the economic front. India, last year, became the fifth largest economy in the world which comes against the backdrop of high economic uncertainties around the world," Murmu said.

The President also highlighted the challenges posed by the Covid-19 pandemic and how India overcame it successfully.

Murmu also praised the government’s policies aimed at the overall welfare of citizens. Some of those mentioned include Pradhan Mantri Garib Kalyan Anna Yojana, National Education Policy, and Digital India Mission, among several others. These among other policies and initiatives helped ease people’s lives during the Covid-19 pandemic.

Referring to India assuming the G20 presidency, Murmu called it an opportunity to promote democracy and multilateralism and the right forum for shaping a better world and a better future.

“Under India’s leadership, I’m sure, G20 will be able to further enhance its efforts to build a more equitable &sustainable world order", the president said.

“As G20 represents about two-thirds of the world population and around 85% of global GDP, it is an ideal forum to discuss and find solutions for global challenges. To my mind, global warming and climate change are the most pressing among them", the president added.

Asserting that global temperatures are rising and extreme forms of climate change are visible, the President said global warming and climate change are challenges that need to be addressed urgently.

“To maintain the balance between development and environment, we have to look at the ancient traditions from a new perspective. We also have to reconsider our basic priorities. The scientific dimensions of traditional life-values have to be understood. If we want our children to lead a happy life on this earth then we need to change our lifestyle,“ she said.

The President said that India is faced with the dilemma of lifting more and more people out of poverty which is possible through economic growth but that also comes from fossil fuels. Murmu said one of the solutions to the conundrum is promoting the use of alternative energy sources.

“India has taken a commendable lead in this direction by giving a policy push to solar energy and electric vehicles. At the global level, however, emerging economies need a helping hand from advanced nations in the form of technology transfer and financial support," she said.

President Murmu hailed the forces protecting India. “On the occasion of Republic Day, I convey my special appreciation to our jawans who guard our borders and are ready to make any sacrifice for the country. I also express my appreciation for all the brave soldiers of paramilitary forces and police forces", she said.

The president also commended every citizen for contributing to the progress of the nation. President Murmu said, “I commend the roles of farmers, workers, scientists and engineers whose combined strength enables our country to live up to the spirit of “Jai Jawan, Jai Kisan, Jai Vigyan, Jai Anusandhan". I appreciate every citizen who contributes to the nation’s progress."

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less

Recommended For You

Trending Stocks

Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout