commencement of the Budget session of Parliament.
Mukherjee also announced that government proposes to introduce the Judicial Standards and Accountability Bill in this session as a "significant" measure towards judicial reforms.
The President devoted a considerable part of the speech to the economic situation and the burden of gathering anxieties about slowdown, job security and employment prospects.
"People are concerned about the security of our women and children. They are also anxious about timely delivery of their entitlements and about persisting social and economic inequality," he said.
Mukherjee said the past year has been "very difficult one" for the global economy. "Europe is in recession. Most emerging markets are growing very slowly. It has been a difficult year for India also. Both global and domestic factors have affected our growth.
"We need to address the impact of both. My Government has responded to the situation by taking several measures to revive investment activity and investor sentiment," he said.
Mukherjee, who was Finance Minister before his election as President last July, noted that the Indian economy is currently experiencing slower growth.
"Real GDP grew by 5.4 per cent in the first half of the current fiscal year. This is significantly lower than the average of around 8% in the last decade. Our slower growth is the consequence of a combination of global and domestic factors," he said.
