President Ram Nath Kovind today said India has again emerged as one of the fastest-growing economies in the world and its achievements are the “collective achievements of more than a billion citizens of our country.”
Addressing a Joint Sitting of Parliament at the beginning of its Budget Session, he said India’s achievements in the industry, agriculture, social justice, and in making its defence sector self-reliant, were fruits of the labour and sweat of its people.
“These achievements are milestones in the long journey to achieve our ambitious goals,” he said. “We have to ensure that our hard work leads to fruitful results in the end. We all have a stake, and an equal stake in this journey,” the President.
Appreciating the manner in which Members of Parliament had discharged their responsibilities during the challenging time of Corona, he said “You are the drivers of hopes and aspirations of crores of our people. It is with the same spirit that we have to keep working in the future.”
An example of India’s capability in the fight against Covid-19 was evident in the ongoing Covid vaccination program, he said. “We have surpassed the record of administering more than 150 crore vaccine doses in less than a year. Today we are among the leading countries in the world with the highest vaccine doses administered,” he said.
To frequent thumping of desks by the MPs, he said the Government was working continuously to empower the farmers and the rural economy of the country.
“Despite the pandemic, our farmers produced more than 30 crore tonnes of food grains and 33 crore tonnes of horticulture produce in 2020-21,” he said.
The government made record procurement to match the record production, he said. The government procured 433 lakh metric tonnes of wheat during the Rabi season benefiting about 50 lakh farmers. A record quantity of about 900 lakh metric tonnes of paddy was procured during Kharif season, benefiting 1 crore 30 lakh farmers, he said.
Enumerating the successes of the Government, he said the GST collection had consistently remained above Rs 1 lakh crore during the last several months.
The inflow of $ 48 billion in the first seven months of the current financial year was a testimony to the belief the global investor community had in India’s growth story. India’s foreign exchange reserves today exceed $ 630 billion, he said.
The exports were growing rapidly, breaking several past records, he said. From April to December 2021, the goods exports stood at $ 300 billion or more than Rs 22 lakh crore, which is one and a half times more than the corresponding period of 2020.
From new reforms in labour laws to reforms in the banking sector, and to insolvency and bankruptcy code, the series of reforms was rolling on uninterrupted. The space sector was opened up for the private sector, he said.
“Due to the policies of the government in the defence sector, especially in defence production, the country is becoming increasingly self-reliant,” he said.
Of all the approvals accorded for modernization of armed forces in the year 2020-21, 87 percent were from the ‘Make in India’ category. Similarly, in 2020-21, preference was accorded to the ‘Make in India’ category in 98 percent of equipment-related contracts.
To protect MSMEs from crisis and ensure adequate availability of credit during the Corona period, the government started a scheme for guaranteed Collateral Free Loans of Rs 3 lakh crore, he said.
“It is evident from the recent studies that this scheme has given a fresh lease of life to 13 lakh 50 thousand MSME units and also secured 1.50 crore jobs,” he said.
The “Beti Bachao, Beti Padhao” initiative has yielded many positive results, and there has been an encouraging improvement in the number of girls enrolled in schools.
The Indian pharma sector has also proved its mettle during the Corona period. Presently, the products of Indian pharma companies are reaching more than 180 countries.
The Pradhan Mantri Garib Kalyan Anna Yojana is the world’s largest food distribution program with an outlay of Rs two lakh sixty thousand crores reaching out to 80 crore beneficiaries for 19 months. The government has extended this scheme till March 2022. It is a matter of happiness that all the existing 33 Sainik Schools have started admitting girl students, he said.