India Will Be Among World's Top 3 Economies In 5 Years: Key Takeaways From PM Modi’s Independence Day Speech

On the eve of the 77th Independence Day, Prime Minister Narendra Modi unfurled the national flag at around 7:30 am at Red Fort. Modi’s address set the tone for the next general election as he promised unparalleled development in the next five years and asked for cooperation from the citizens to eliminate corruption, nepotism, and appeasement politics.

During his nearly 90-minute-long address, Prime Minister Modi outlined various initiatives taken by his government in the past 10 years, including in the field of national security, women's empowerment, and the welfare of poor and marginalised sections of society.

PM Modi delivered his 10th consecutive Independence Day speech and his last before the 2024 Lok Sabha elections. "Corruption had stopped the development of India," he said about corruption. He also noted the cycle of violence, incidents of atrocities against women in Manipur and assured India was with the people of the state. "Slowly peace is restoring itself in the state. The Centre and State Government will continue to work to restore peace," he added.

The PM said his government has taken tough measures against corruption, citing that frozen assets belonging to corrupt people have increased 20 times.

Here Are The Key Highlights From PM Modi’s Address To The Nation:

New Global Order

PM Modi said a new world order is taking shape in the post-Covid era that is being shaped by India. "We are seeing a new geo-political equation growing rapidly in the post-COVID era. Indian exports are increasing today. Covid has taught us that we can’t work for welfare of the world without having sympathy for human beings," he said. He added that India is a part of global supply chain and asserted that he was confident that whatever the nation has achieved has brought a guarantee of stability to the world.

India Among Top 3 Economies In 5 Years

"It is Modi’s guarantee that India will be among the top three economies in the world in the next five years," the prime minister said.

He added that when his government came into power in 2014, India was at 10th position in the global economic system. Today, with the efforts of 140 crore Indians, the country reached the fifth position, he added.

Relief On Home Loan

The PM announced rebate on interest on home loans for the urban poor living in slums and unauthorised colonies. "We are bringing a rebate on home loans for slum dwellers and residents of unauthorised colonies in cities," he said.

Vishwakarma Scheme

PM Modi announced the initiation of the Vishwakarma Yojana, with an initial allocation of Rs 13,000 to Rs 15,000 crore in September. The scheme aims to benefit individuals with traditional skills and was first announced in the Budget 2023.

Corruption, Nepotism, And Appeasement

The Prime Minister said corruption has significantly impacted India’s capabilities, while reaffirming his lifelong dedication to continuing the fight against corruption.

"My government weeded out 10 crore fake beneficiaries of welfare schemes; the seizure of ill-gotten assets rose by 20 times," he added.

He also said that appeasement politics had caused significant damage to social justice. "Democracy is affected by the ills of nepotism; dynastic parties work with mantra of ‘party of family, by family, and for family’," PM Modi said.

Women Empowerment

In his speech, Modi mentioned that women in India were taking part in STEM (Science, Technology, engineering, and Mathematics) more than ever. He appreciated women's self-help groups and said his dream was to make two crore ‘lakhpati didis’.