Modi government to expose UPA's economic mismanagement; will bring 'white paper' in Parliament

According to an ANI report, the Modi government will bring a 'white paper' on the economic mismanagement of the UPA government. The session of Parliament has also been extended for one day for this very reason.

In a strategic move to shed light on the economic mismanagement during the tenure of the United Progressive Alliance (UPA) government, the Modi government will reportedly release of a comprehensive 'white paper' in the ongoing Parliament session. According to a report in ANI quoting sources, the session of Parliament has also been extended for one day for this very reason.

"The White Paper will elaborate on India's economic misery and its negative impacts on the economy through the White Paper on Economic Mismanagement during the UPA Government. It will also talk about the impact of positive steps that can be taken at that time," ANI was reported as saying.

Before the potential announcement of general elections, anticipated by the first week of March, the White Paper is expected to ignite a political debate. It will reportedly feature a comparative analysis of the 10 years under the Modi regime juxtaposed with the preceding 10 years of UPA rule led by former PM Manmohan Singh.

The release of the White Paper also reflects the Modi government's confidence in its macroeconomic management as it approaches the elections. This confidence is likely to be echoed in the BJP's canvassing and campaign efforts aimed at securing votes.

On the contrary, during the terminal years of the UPA, policy paralysis was widespread, economic growth was stifled, and there was a prolonged period of high food and retail inflation. Additionally, the rupee experienced an unprecedented depreciation due to the tapering of quantitative easing by the US Federal Reserve, catching policymakers at the North Block off guard.

The release of a White Paper on the economy suggests that the BJP intends to present a platform centered on economic growth to the electorate. This emphasis on economic growth was not as prominent in the party's campaign pitch during the 2019 elections, where national security issues, particularly in the aftermath of the Pulwama attack, took center stage.

During her Interim Budget 2024 speech, Finance Minister Nirmala Sitharaman said, "In 2014, when our Government assumed the reins, the responsibility to mend the economy step by step and to put the governance systems in order was enormous. The need of the hour was to give hope to the people, to attract investments, and to build support for the much-needed reforms."

"The government did that successfully following our strong belief of ‘nation-first’. The crisis of those years has been overcome, and the economy has been put firmly on a highly sustainable growth path with all-round development. It is now appropriate to look at where we were then till 2014 and where we are now, only to draw lessons from the mismanagement of those years. The government will lay a White Paper on the table of the House,” she added.