New Russian President Vladimir Putin speaks during an inauguration ceremony at the Kremlin in Moscow, May 7, 2012. Putin was sworn in as Russia's president in a glittering Kremlin ceremony on Monday, starting a six-year term. [Photo/Agencies]

MOSCOW - Newly-inaugurated President Vladimir Putin vowed on Monday to lead his country through a new stage of national development.

"Now, Russia is entering a new stage of its development. We will need to solve the tasks of a new level, different quality and scale. The coming years will be decisive for Russia's destiny for decades ahead," Putin said in a brief speech during the inauguration ceremony.

He noted that the life of future generations and historical perspective of the nation will depend on how the state succeeds in building a new economy and modern living standards.

"(It depends on) our efforts to preserve people and support Russian families, on our persistence in development of the enormous Russian territories from Baltic Sea to Pacific Ocean, on our ability to become the leaders and the center of gravity for the entire Eurasia," Putin said.

The new president stressed that these tasks are achievable only on the ground of sound base of Russian people's cultural and spiritual traditions, its thousand-year-long history and moral values.

"Entering the office of president of the Russian Federation, I realize my full responsibility to my country. Its interests, security, the welfare of its citizens have always been and will always remain above all for me," Putin said.

"I will do my best to live up to the expectations of millions of our compatriots," he said.

The 59-year-old political veteran was sworn in on Monday as Russian president, starting his third term in the Kremlin following the two consecutive terms from 2000 to 2008.