New Delhi: President Droupadi Murmu on Wednesday addressed the joint sitting of Parliament, marking the opening of the Union Budget 2026 session. In her address, she hailed the government’s decisions of GST 2.0 reforms and updating the old rules and provisions according to future needs. The president said the government is moving on the path of ‘Reforms Express’, benefitting the poor and middle class.

GST 2.0 & Income Tax exemption

In her address to both Houses of Parliament, the President said, “Everyone has witnessed how the historic next-generation reform in GST filled the citizens with enthusiasm. This reform ensured savings of 1 lakh crore rupees for citizens. Following the reduction in GST, in 2025, registrations of two-wheelers have crossed the mark of 2 crore, which is a new record in itself.”

President Murmu also praised the government for exempting income up to Rs 12 lakh from taxation. She further hailed the new Income Tax Act 2025 which is set to be implemented from April 1, 2026. These tax reforms are benefitting the poor and middle-class families. It has also given a new impetus to the country’s economy, she added.

“Today, my government is moving forward on the path of ‘Reforms Express’. Old rules and provisions are being updated continuously according to future needs,” President Murmu said.

The President was full of praise for the GST 2.0 reform introduced in September, under which tax rates of about 375 goods were slashed effective September 22, 2025.

“This reform ensured savings of one lakh crore rupees for citizens. Following the reduction in GST, in 2025, registrations of two-wheelers have crossed the mark of two crore, which is a new record in itself,” Murmu said in her speech.

New Labour Codes

President Murmu also touched upon the introduction of enacted four new Labour Codes—Code on Wages (2019), Industrial Relations Code (2020), Social Security Code (2020), and Occupational Safety, Health and Working Conditions Code (2020), saying that with the emergence of many new sectors in the country, it is equally important to safeguard the interests of workers. 

“For a long time, the country’s workforce was entangled in dozens of labour laws. These have now been consolidated into just four Codes, making it easier for workers to receive fair wages and allowances and other welfare benefits. From these reforms, the country’s youth and women in particular, will benefit significantly,” she added.