Finance Minister Nirmala Sitharaman presented a ‘white paper’ on the Indian economy in the Lok Sabha on Thursday. In which it is said that if the economy was in crisis in 2014, if the white paper had been presented then a negative situation could have arisen and the confidence of investors would have been shaken. While placing the ‘White Paper’ in the House on Thursday, Sitharaman said, I present the ‘White Paper’ on the Indian economy in Hindi and English versions. The total 59-page ‘White Paper on Indian Economy’ states that when the Narendra Modi government took power in 2014, the economy was in a fragile state. Public finances were in a bad state. At the same time, economic mismanagement, financial indiscipline and widespread corruption were prevalent.
Took tough decisions for bigger economic benefits
The white paper said that the NDA government, equipped with political and policy stability, took tough decisions for major economic benefits, unlike the previous UPA government. Instead of quick solutions, the NDA government introduced bold reforms, the government said in its white paper. Presenting the white paper in the Lok Sabha, Finance Minister Nirmala Sitharaman said, due to corruption and scams in the defense sector during the UPA government, decision making came to a standstill, due to which defense preparedness was compromised. The government delayed upgrades to artillery and anti-aircraft guns, fighter planes, submarines, night fighting gear and other equipment.
Union Finance Minister Nirmala Sitharaman to lay on the Table a copy of the ‘White Paper on the Indian Economy’ today, in Lok Sabha today.
(file photo) pic.twitter.com/cFqacNJEvw
— ANI (@ANI) February 8, 2024
Coal scam shook the conscience of the country
Finance Minister Nirmala Sitharaman said, in 2014 the coal scam had shaken the conscience of the country. Before 2014, coal blocks were allocated on an arbitrary basis without following a transparent process of block allocation. The coal sector was excluded from competition and transparency and there was a lack of investment and efficiency in the sector. These actions were scrutinized by investigative agencies, and in 2014 the Supreme Court de-allocated 204 coal mines/blocks allotted since 1993.
What is white paper?
White paper is a government document. Which is presented to highlight the policies and achievements of the government. Because this document is in white cover, it is called white paper. Many times the ruling party uses it to reveal the raw secrets of the policies of the previous governments.
While presenting the budget, the Finance Minister had announced to bring a white paper.
Finance Minister Nirmala Sitharaman, in her speech while presenting the interim budget on February 1, had said that a ‘white paper’ was issued on the ‘economic mismanagement’ that occurred during the 10-year tenure of the United Progressive Alliance (UPA) government (2004-14). Will go.