The Modi government tabled a white paper in parliament on Thursday, February 8. This white paper is a comparison of the economic situation before and after the rule of the Modi government (i.e., before and after 2014). A white paper is a report that also highlights the achievements, policies, investments, and issues of the government. Public can have access to this white paper.
This white paper is a 59-page document that consists of three main parts and four main objectives. Which include:
3 main parts of white paper:
Part 1 discusses India's macroeconomic situation under the UPA government, highlighting double-digit inflation, banking sector issues, and policy uncertainty, which impacted India's business climate and people's confidence.
Part 2 presents the current status of various corruption scams during the UPA government.
Part 3 explains how the present government addressed economic issues, rebuilt the country's image, and restored people's hopes for a brighter future, leading to a self-confident and self-assured nation.
The four main objectives of the white paper are:
Inform the Parliament and people of India about the governance, economic, and fiscal crises in 2014.
Explain the policies and measures taken to restore the economy's health and make it capable of fulfilling growth aspirations.
Generate a wider, more informed debate on the paramountcy of national interest and fiscal responsibility in governance over political expediency.
Commit to national development with new inspirations, consciousness, and resolutions as the country opens possibilities and opportunities.
What white paper is covered?
White papers covered different topics and made a comparison between before and after 2014. The Ministry of Finance mainly highlighted the 10-year economic situation under the Congress-led UPA government and the 10-year economic situation under the BJP-led NDA government. The highlights of the white paper are economic distress, healthcare issues, the banking system, poor management of public finances, policy obstruction and project delays, missed opportunities, a lack of leadership, quality of public expenditure, waste of public resources, economic uncertainty and policy instability, public services, and others.
To understand the 59-page document presented to Parliament on Thursday, the government has arranged discussions in both the Lok Sabha on Friday and the Rajya Sabha on Saturday.