On August 15, 2025, India commemorated its 79th Independence Day, with President Droupadi Murmu addressing the nation and Prime Minister Narendra Modi delivering a pivotal speech from the historic Red Fort. The Prime Minister's address focused on a roadmap for a "Viksit Bharat by 2047," emphasizing self-reliance, innovation, and citizen empowerment.
Major Policy Initiatives Announced:
Prime Minister Modi announced significant reforms and initiatives aimed at bolstering India's economic and strategic capabilities. A key highlight was the impending GST reforms, dubbed "GST 2.0," which will see rates lowered by Diwali, transitioning to a two-slab system to reduce the tax burden on daily-use items and stimulate domestic consumption. This reform aims to modernize the eight-year-old tax regime.
To address employment, the Prime Minister launched the Pradhan Mantri Viksit Bharat Rozgar Yojana, a ā¹1 lakh crore scheme projected to create 3.5 crore jobs by 2027. This initiative includes incentives for first-time employees and subsidies for employers. Furthermore, a dedicated Reform Task Force is being established to accelerate economic growth, streamline governance, and prepare India for a $10 trillion economy by 2047.
In a push for energy independence, the National Deepwater Exploration Mission was announced to tap ocean resources and expand the country's solar, hydrogen, hydro, and nuclear power capacities. On the defense front, a project for an indigenous air-defence system, 'Mission Sudarshan Chakra,' was unveiled, aiming to protect vital installations and reduce reliance on foreign technology. PM Modi also challenged Indian scientists and youth to develop indigenous jet engines. A significant step towards technological self-reliance, India is set to launch its first "Made in India" semiconductor chips by the end of 2025. Additionally, a High-Powered Demography Mission was announced to address demographic imbalances caused by infiltration and illegal migration in border regions.
Economic Landscape:
India's economy continues to show robust growth, with a real GDP expansion of 6.5% in 2024-25, a pace expected to continue into the next fiscal year. The country's current account deficit (CAD) shrank to 0.6% of GDP in FY25, indicating improved external trade health. Foreign exchange reserves also saw an increase, rising by $4.7 billion to $693 billion in the week ending August 8. The Reserve Bank of India's Monetary Policy Committee (MPC) maintained the repo rate at 5.50%, adopting a neutral stance. India also achieved a landmark 100 GW of solar Photo Voltaic (PV) module manufacturing capacity under the Approved List of Models and Manufacturers (ALMM).
National Developments:
The Nasha Mukt Bharat Abhiyaan (Drugs-Free India Campaign) successfully completed five years on Independence Day, having sensitized over 18.10 crore people on substance abuse. The Ministry of Youth Affairs & Sports' MY Bharat signed an MoU with the School of Ultimate Leadership Foundation (SOUL) to develop one lakh youth leaders nationwide. The NHAI launched a FASTag Annual Pass, allowing non-commercial vehicles unlimited travel across 1,150 toll plazas for a one-time annual fee of ā¹3,000. On Independence Day, 1,090 personnel were awarded Gallantry and Service Medals, including those for their valor in 'Operation Sindoor'. In the judiciary, Chief Justice of India B.R. Gavai clarified that the Supreme Court Collegium cannot "dictate" names to High Court Collegiums for judicial appointments, emphasizing mutual respect in a federal judiciary.
International Relations:
India's relations with the United States are currently under strain, primarily due to the US imposing 50% tariffs on India, partly linked to India's imports of Russian oil. This development has prompted discussions on India's strategic autonomy and the diversification of its trade partners. Meanwhile, India's Foreign Secretary, Vikram Misri, is scheduled to visit Nepal on August 17-18, 2025, to discuss enhancing bilateral cooperation. In a positive sign for international collaboration, 2025-26 has been designated the Year of Science, Technology and Innovation Exchange between India and Japan.
Sports and Culture:
India hosted the Asian Surfing Championships 2025, where Ramesh Budihal secured India's first individual medal (bronze) in the Open Men's category. The Himalayan Kingfisher was unveiled as the mascot for the Khelo India Water Sports Festival 2025. India also officially submitted its bid to host the 2030 Commonwealth Games. Culturally, the Maharashtra Postal Circle released special picture postcards to commemorate the 50th anniversary of the iconic film 'Sholay'.