India will implement more reforms to boost economic growth, including higher spending in farm sector and easing collateral-free loans to small businesses, President Ramnath Kovind told lawmakers on Thursday.
"Inflation is low, fiscal deficit is under control and foreign exchange reserves are rising ... Now India is moving towards becoming the world's fifth largest economy," Kovind said while addressing the joint session of parliament, ahead of the annual budget.
Newly appointed Finance Minister Nirmala Sitharaman will present the annual budget on July 5.
Kovind said the penal provisions for crimes committed against women should be strictly enforced.
He added that to ensure equal rights for every woman, social evils like 'triple talaq' must end.
"Empowerment of women is one of the highest priorities of my government. The empowerment of women and their effective participation in society and economy is the test of a developed society," Kovind said.
The President said the new government would serve everyone and was committed to fight corruption.
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