the Government is thankful to the GST Council for working to resolve outstanding issues.
He also said India has been widely acclaimed as the bright spot in the global economy at a time when the global growth has been slow.
The rate of inflation, the balance of payments, the current account deficit and the fiscal deficit have been consistently reduced since 2014.
Mukherjee said foreign direct investment (FDI) and foreign exchange reserves have reached record levels. The country's macro economic fundamentals are very strong, creating a platform for sustained high growth.
FDI inflows in 2015-16 were USD 55.6 billion, the highest-ever for any financial year and the government further liberalised FDI policy provisions in various sectors in June 2016.
On terrorism, the President said India has been facing the grave challenge for the last four decades.
"Terrorism poses a serious danger to the global community. India will actively collaborate with other nations in decisively defeating these forces. My Government is committed to combating terrorism and to ensure that the perpetrators of such acts are brought to justice," he said.
Mukherjee said Jammu and Kashmir has been affected by terrorism sponsored and supported from across the border. The attempts of infiltration, incidents of terrorist violence and loss of precious lives of civilians and security personnel remain a cause of grave concern.
He also noted that there has been a considerable success in containing left-wing extremism over the last three years with the surrender of 2600 extremist.
The security situation in North Eastern states has also shown significant improvement.
The President said the government is committed to the philosophy of partnerships for peace and progress and continues its active diplomacy aimed at facilitating national development, enhancing security and ensuring greater Indian influence in global fora.
Referring to 30 million overseas Indians settled in almost every corner of the world, he said the Government will maximise the strength of Indian diaspora in nation building and for deepening global outreach.
The President said Indians today have a deep sense of pride in the awakening of India caused by the momentous steps government has undertaken.
"Our fellow citizens have exhibited great solidarity with our endeavours in transforming India. My Government reiterates its commitment to fulfil the aspirations of our citizens," he added.
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)