Groundwork laid for a new era of economic reforms

New Delhi: President Droupadi Murmu on Wednesday declared that the groundwork has been laid for a new era of economic reforms aimed at elevating India to the status of a developed nation.

In her address to the nation on the eve of India’s 78th Independence Day, the President highlighted India’s impressive economic trajectory and said the country has emerged as the fastest-growing major economy, boasting an average annual GDP growth rate of 8 per cent between 2021 and 2024. “It is a matter of pride that India has become the fifth-largest economy in the world, and we are on the cusp of breaking into the top three economies soon,” she remarked.

The President attributed this remarkable progress to the relentless efforts of workers and farmers, the foresight of planners and wealth creators, and the visionary leadership guiding the nation. She emphasised the government’s ambitious goal of transforming India into a ‘Viksit Bharat’ -- a developed nation -- by 2047, coinciding with the centenary of India’s Independence.

President Murmu pointed to the government’s focus on infrastructure development, the adoption of cutting-edge technologies, that make India an increasingly attractive destination for investment.