Finance Minister Presents White Paper on Economic Mismanagement: A Comparative Analysis of UPA and Modi Era

Finance Minister Nirmala Sitharaman presented the ‘White Paper’ on economic mismanagement by the United Progressive Alliance (UPA) in Lok Sabha on Thursday. The White Paper on the nation’s economy compares the UPA years and 10 years of Modi government. This document on economic mismanagement aimed to settle the long-standing debate on ‘issue of the economy’ once and for all before the Lok Sabha elections.

BJP leader and Standing Committee on Finance chairman Jayant Sinha on Wednesday said the government’s proposed ‘white paper’ will highlight the country’s “poor economic condition” when the Congress-led UPA left power and how the incumbent relief brought the turnaround. He emphasized India’s GDP growth had slowed down to five per cent, inflation had risen to ten per cent, and NPAs of banks had risen to ten per cent during the UPA era, along with facing a balance of payment crisis.

With the government set to table the ‘White Paper’, Parliamentary Affairs Minister Pralhad Joshi announced an extension of the ongoing Budget session of Parliament till February 10 (Saturday).

Prime Minister Narendra Modi, during his speech in the Rajya Sabha, criticized the Congress for its past governance, highlighting the difference in the growth of the nation’s economy. He mentioned how the Congress spent a decade bringing India from 12th to 11th rank, while his government elevated India’s economy to the fifth position in just ten years.

Opposition leaders have varying opinions on the ‘White Paper’. Leader of Congress in Lok Sabha, Adhir Ranjan Chowdhury, expressed no issue with the Centre’s ‘White Paper’ but urged for attention to other matters like Mehul Choksi’s papers and bank looting scandals. RJD MP Manoj Jha criticized the ‘White Paper’, calling it a white elephant just before the elections, emphasizing the need for tangible job creation and economic progress.

Congress responded to the ‘White Paper’ with their own ‘Black Paper’, unveiled by party chief Mallikarjun Kharge. Kharge criticized PM Modi for not acknowledging the jobs created by PSUs established under Pandit Jawaharlal Nehru’s leadership, accusing Modi of trying to conceal his government’s failures during parliamentary speeches.

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