President Droupadi Murmu, in her address to a combined session of Parliament on Wednesday, emphasized that 2023 marked a significant milestone for the nation as it retained its status as the fastest-growing major economy.

“The year 2023 was a historic year for India, when it grew the fastest among major economies despite global crisis. India grew about 7.5 per cent for two consecutive quarters,” she told the Parliament, on behalf of the Centre.

The Indian economy expanded by 7.8 per cent in the April-June quarter and 7.6 per cent in the July-September quarter of the 2023-24 fiscal year, maintaining its position as the fastest-growing major economy.

The Budget Session of Parliament commenced with her address. Depending on government business needs, the session could end on February 9. This marks President Murmu's inaugural speech at the recently constructed Parliament building.

"...This is my first address in the new Parliament building. This grand building has been built at the beginning of the Amrit Kaal. This has the fragrance of 'Ek Bharat, Shreshth Bharat'...This also has the resolve to honour democratic and parliamentary traditions. Besides this, it also has the resolve to build new traditions of the new India of the 21st century,” Murmu said.

“I am confident that there will be meaningful conversation on policies, in this new building,” the President added.

Speaking about her government, she said, "The achievements that we see today are the extension of the practices of the last 10 years. We heard the slogan of 'Gareebi Hatao' since our childhood. Today, for the first time in our lives, we see poverty being alleviated on a large scale."

On Thursday, the interim Union Budget will be presented by Nirmala Sitharaman, the Union Finance Minister.

The final session before the Lok Sabha elections, anticipated to take place in April-May this year, will consist of a total of eight meetings spread out over 10 days.

The temporary budget usually addresses the financial requirements during the period until a new government is formed after the Lok Sabha elections.