Union Finance Minister Nirmala presented the white paper to highlight the financial bankruptcy of the previous UPA govt

Union Finance Minister Nirmala Sitharaman today tabled ‘White Paper on Indian Economy’ in Lok Sabha highlighting economic mismanagement of the United Progressive Alliance (UPA) government.

Finance Minister Nirmala Sitharaman, during the Interim Budget presentation, had asserted that India’s economy faced a “crisis” in 2014 when the Modi government assumed office. She attributed this crisis to the “mismanagement” of the previous government and announced the forthcoming White Paper. The purpose of the document is to examine the economic trajectory from the Congress-led government’s tenure until 2014 and draw lessons from the alleged mismanagement during those years.

Speaking in the Lok Sabha on Wednesday, BJP MP Jayant Sinha, who is also the member of the Standing Committee on Finance, said that a white paper will be brought to the house.

“India’s GDP growth had slowed down to 5%, inflation had risen to 10%, The country was facing a balance of payment crisis. The baking system was in a crisis. Everyone was leaving the country and we were in the fragile economies in the world. This is the condition in which the UPA had left us,” he said in his remarks on the interim budget.

“In the white paper, we will clarify what was the position of the economy (before 2014) … and how we have tackled the economic problems.”, he said.