Middle class’ incomes increased in India, says President Murmu:Govt’s efforts to keep inflation under control have put more savings in people’s hands

The Indian President Droupadi Murmu recently addressed the Parliament, highlighting the significant growth and improvements in India’s economy over the past 11 years. She emphasised that government policies are boosting incomes and improving the lives of ordinary citizens. Strong Economic Foundation Murmu stated that India’s economic foundation is now much stronger than it was a decade ago. Despite global economic problems, India has consistently been one of the fastest-growing major economies in the world. The government has also managed to keep inflation under control, which directly benefits the poor and middle class by making everyday goods more affordable. More Money in People’s Pockets The President pointed out that people are earning more, saving more, and have greater purchasing power thanks to the government’s policies. This means families have more money to spend on things they need and want, which helps the economy grow even further. Modernising Old Rules Murmu also mentioned that the government is actively updating old rules and regulations to make them more suitable for today’s world. This “Reforms Express” approach is designed to make it easier for businesses to operate and for the economy to function efficiently. GST Savings She specifically mentioned the Goods and Services Tax (GST) as a major success. This tax reform has simplified the tax system and has resulted in significant savings for citizens, estimated at around Rs 1 lakh crore. Tax Relief for Middle Class The President also highlighted changes to income tax laws, including a decision to exempt income up to Rs 12 lakh from taxation. This provides substantial relief to middle-class families and gives a boost to the overall economy. Protecting Workers’ Rights With the growth of new industries, Murmu stressed the importance of protecting the rights of workers. New labor laws have been introduced to consolidate dozens of old laws into just four codes. This makes it easier for workers to receive fair wages, benefits, and other forms of support. These reforms are expected to particularly benefit young people and women. Better Roads, Better Access The President also spoke about improvements in infrastructure, particularly in the North-Eastern region of India. Over 7,200 kilometers of national highways have been built, making it easier to reach remote areas. Additionally, about 50,000 kilometers of rural roads have been constructed under the Pradhan Mantri Gram Sadak Yojana, improving access to markets, hospitals, and schools. Supporting Farmers Murmu emphasized that a prosperous farmer is a top priority for the country’s development. The government has launched schemes like PM Kisan Samman Nidhi, which directly transfers money to farmers’ bank accounts. So far, over Rs 4 lakh crore has been transferred under this scheme. These policies have led to record production of food grains and horticulture crops. Boosting Manufacturing The government is also working to boost manufacturing through the Production Linked Incentive (PLI) scheme. This scheme has attracted investments of around Rs 2 lakh crore and has led to production worth more than Rs 17 lakh crore. Attracting Foreign Investment India’s share in global investment and exports is steadily increasing. Over the past 11 years, the country has attracted about $750 billion in Foreign Direct Investment (FDI). Focus on New Technologies Murmu highlighted the importance of new sectors like microchips. The government is promoting self-reliance in microchip manufacturing, which is essential for modern technology. Four more semiconductor manufacturing units have been approved, and a total of 10 such factories are expected to begin operations soon. India is also taking steps to manufacture nano-chips. Reducing Dependence on Other Countries The government has launched the National Critical Mineral Mission to reduce dependence on other countries for essential minerals. Concerns About AI Murmu also raised concerns about the misuse of Artificial Intelligence (AI). She warned that deepfakes, misinformation, and fake content are becoming significant threats to democracy and social harmony. India’s Global Role Finally, the President noted that India is playing a major role in several global organizations. This year, India holds the presidency of BRICS, and the world is viewing it with optimism. India will also host a Global AI Impact Summit to bring the international community together to discuss AI-related issues.