New Delhi

President Droupadi Murmu on Wednesday said India’s economic base has strengthened considerably over the past 11 years, with government policies contributing to higher incomes, increased savings, and improved purchasing power for citizens.

Addressing a joint sitting of Parliament at the start of the Budget Session, the President said India has remained the world’s fastest-growing major economy despite multiple global crises. She added that inflation has been kept under control, providing direct relief to poor and middle-class households.

“The economic foundation of the country has grown significantly stronger. As a result of the government’s policies, citizens’ incomes have increased, savings have expanded, and purchasing power has improved,” Murmu said.

She noted that the conclusion of negotiations for a free trade agreement with the European Union would give a major boost to India’s manufacturing and services sectors, while opening up fresh employment opportunities for the youth.

Highlighting ongoing reforms, Murmu said the government continues to move ahead on the “Reforms Express,” with outdated rules being replaced to meet future requirements. She cited the next-generation Goods and Services Tax reform as a landmark initiative that has resulted in savings of nearly ₹1 lakh crore for citizens.

The President also referred to major changes in income tax laws, including the exemption of income up to ₹12 lakh from taxation, calling it a historic step that has provided unprecedented relief to the poor and middle class while energising the economy.

Stressing the importance of worker welfare amid the growth of new sectors, Murmu said the implementation of four consolidated labour codes had simplified compliance and improved access to fair wages, allowances, and social security benefits. She added that youth and women would be among the biggest beneficiaries of these reforms.

On infrastructure development, the President said more than 7,200 kilometres of national highways have been constructed in the northeastern region over the last 11 years, improving connectivity to remote, tribal, and border areas. She added that around 50,000 kilometres of rural roads have been built under the Pradhan Mantri Gram Sadak Yojana, enhancing access to markets, healthcare, and education.

Turning to agriculture, Murmu said farmers remain central to the vision of a developed India. She highlighted the PM-Kisan Samman Nidhi scheme, under which over ₹4 lakh crore has been directly transferred to farmers’ bank accounts so far. She also pointed to record production of food grains and horticulture crops in 2024–25, attributing the gains to sound policy interventions.

The President said the cooperative movement in agriculture and livestock sectors was being strengthened, while investments of around ₹2 lakh crore had been attracted under the Production Linked Incentive (PLI) scheme, leading to production worth over ₹17 lakh crore.

She noted that India has drawn nearly USD 750 billion in foreign direct investment over the past 11 years, with the country’s share in global investment and exports steadily rising.

Murmu also underlined the government’s push for self-reliance in advanced technologies, including semiconductors. She said four additional semiconductor manufacturing units were sanctioned in 2025, taking the total number of upcoming facilities to 10, and added that India is taking concrete steps towards nano-chip manufacturing.

In addition, she said the National Critical Mineral Mission aims to reduce dependence on imports for essential minerals crucial to modern industries.

Addressing emerging challenges, the President warned against the misuse of artificial intelligence, citing threats such as deepfakes, misinformation, and fake content to democracy and social harmony. She urged parliamentarians to deliberate seriously on the issue.

Murmu also highlighted India’s growing global role, noting that the country currently holds the presidency of BRICS and will host a Global AI Impact Summit this year to foster international cooperation.

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Concluding her address, the President said India stands at a crucial juncture, with decisions taken today set to shape the nation’s future trajectory in the years ahead.