The commitment to reforms is the blueprint for growth and is not borne of any political compulsion but the dedication to nation first. In this context, PM Modi noted the growth strength of the banking sector, which he added has powered the progress in every sector.

In his address on the country's 78th Independence Day, Modi said it is a day to pay tribute to the countless people who made sacrifices and struggled for the country's freedom. "The country is indebted to them," he said. The surge in cases of such disasters is a matter of concern, he added.

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PM Modi also paid condolences to families who lost their loved ones in recent national disasters.

His first Independence Day 2024 address of his third term takes him past Manmohan Singh, who unfurled the tricolour 10 times from the ramparts of Red Fort during 2004-2014, and places him behind Jawaharlal Nehru and Indira Gandhi, who did the honours 17 and 16 times respectively.

Before reaching Red Fort, he paid homage to Mahatma Gandhi at his memorial.

PM Modi said 140 crore citizens of India can achieve the goal of a prosperous and developed India if they walk shoulder to shoulder with united resolve. There may be challenges and shortages of resources but people united in their goal can overcome them to achieve their target, he added.

Speaking of his goal for 'Viksit Bharat' by 2047, he said people from all corners of the country and communities have offered suggestions for the agenda. He recounted many of these ideas-- including reform in justice system, campaign for capacity building, developing India's traditional systems of medicine.

He cited his government's success in taking electricity to unelectrified areas, piped water to crores of homes, expanding 'vocal for local' programme and boosting renewable energy to assert that it has infused a new confidence and consciousness among people.

The nation feels proud when the world wants to learn from its achievements in the fintech sector, PM Modi said.

(With inputs from Agencies)