Center Is Expected To Present White Paper In LS Today, Comparing Economic Growth Under UPA And Modi Govts

On Thursday, the Lok Sabha is expected to hear a “White Paper” proposal from the Bharatiya Janata Party as a supplemental agenda item. The 10 years of Modi administration and the UPA years will be contrasted in the White Paper on the country’s economy.

Before the Lok Sabha elections, this paper on economic mismanagement is expected to definitively end the protracted discussion on the “issue of the economy.”

WHAT IS “WHITE PAPER’S” PURPOSE?
The government’s planned “white paper,” according to BJP politician and head of the Standing Committee on Finance Jayant Sinha, would show the nation’s “poor economic condition” when the Congress-led UPA left office and how the current administration brought about the reversal.

“India’s GDP growth had slowed to 5%, inflation had increased to 10%, and bank non-performing assets (NPAs) had increased to 10%. The nation was experiencing a balance of payments problem, according to the MP from Hazaribagh, Jharkhand.

“It is imperative that we demonstrate to the public how a shift has occurred in the economy,” he said. There were weaknesses in every area. The economy is thriving and growing quickly because of the policies and effort we have done over the last ten years.

Parliamentary Affairs Minister Pralhad Joshi said that the current Budget session of Parliament has been prolonged by one day, to February 10 (Saturday), in anticipation of the government presenting the “White Paper.”

THE VIEW OF PM MODI ON ECONOMY
In the Rajya Sabha on Wednesday, Prime Minister Narendra Modi delivered a vehement speech in response to President Droupadi Murmu’s “Motion of Thanks” to his address on January 31.

Saying that the Congress “openly strangled the democracy,” he made fun of it. “The Congress that jailed the Constitutional decorum, the Congress that attempted to lock up newspapers, the Congress that dissolved democratically-elected governments overnight—that Congress has now acquired the habit of creating narratives of breaking the country,” the speaker said.

He emphasized the disparity in the country’s economic progress and noted that it took the Congress ten years to move India from the 12th to the 11th place, a mere one spot improvement.

The prime minister said, “The Congress is here to give us long speeches on economic policies. We brought India’s economy from number 12 to number 11 in 10 years, and we brought India’s economy to number 5 in just 10 years.”

“When the Congress was in power, our economy was in the fragile five,” Prime Minister Modi said, adding that it is now “in the top five.”

PERSONALITY TO PRESENT THE WHITE PAPER
The “white paper” will be introduced in both the Lok Sabha and the Rajya Sabha by Finance Minister Nirmala Sitharaman. Sitharaman also said that the “white paper” will be tabled by the federal government during her interim budget statement.

During her address on February 1, the finance minister had said, “The crisis of those years has been overcome, and the economy has been put firmly on a high sustainable growth path with all-round development.”

In order to learn from the mishandling of those years, it is now fair to compare where we were in 2014 and where we are today. Sitharaman has said, “The government will place a ‘white paper’ on the House table.”

The opposing viewpoint on “white paper”
Adhir Ranjan Chowdhury, the leader of the Congress in the Lok Sabha, said that there is no “problem” with the “White Paper” from the Center. Chowdhury said, “But Mehul Choksi’s papers should also be brought to the House,” in an interview with the news agency ANI. Why does their government allow banks to be looted? What connection do they have with those who rob banks and flee overseas?

On the other side, RJD MP Manoj Jha predicted that “white paper will turn into a white elephant.” “White paper allows you to designate how many jobs are awarded. Where have you ended up? Thus, shortly before the elections, this is a white elephant rather than white paper, Jha said.

Dayanidhi Maran, a DMK MP, had earlier said, “The Finance Minister took a long time to hail praises but delivered nothing.” A white paper on the former administration will be presented by them. In the last ten years, not much has transpired.

In an interview with reporters, Maran said, “The nation’s citizens are already let down.” Furthermore, you get to see that the bridge firms receive performance rewards rather than the worthy individuals. Individuals are turned away with this budget.