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Background
Wastage Of Public Resources Sent Economy Into A Funk: Govt
"The UPA government's decade of governance (or its absence) was marked by policy misadventures and scams such as non-transparent auction of public resources (coal and telecom spectrum), the spectre of retrospective taxation, unsustainable demand stimulus and ill-targeted subsidies and reckless lending by the banking sector with undertones of favouritism, etc," states the government in the 'white paper' presented by FM.
UPA Inherited A Healthy Economy, But Made It Non-performing In Its 10 Yrs: Govt
The 'white paper' presented by FM said, "The UPA Government inherited a healthy economy ready for more reforms, but made it non-performing in its ten years. In 2004, when the UPA government began its term, the economy was growing at 8 per cent (with industry and services sector growth above 7 per cent each and a resuscitating agriculture sector growth above 9 per cent in FY04) amidst a benign world economic environment."
When NDA Govt Took Over Reins In 2014, Economy Was In Bad Shape: White Paper
"When the NDA government took over the reins in 2014, the economy was in bad shape, nay, crisis. We faced the hydra-headed challenge of fixing an economy mismanaged for a decade, and restoring its fundamentals to sound health," reads the white paper printed by FM on Thursday.
The UPA Govt Failed Miserably To Facilitate Economic Activities: White Paper
"The UPA government failed miserably to facilitate economic activities. Instead, the UPA government created hurdles that held back economy. It basked in the after-glory of the lagged effects of the reforms of the Vajpayee-led NDA government and benign global conditions and proceeded to exploit the resultant fast economic growth for narrow political purposes," stated the White Paper presented by PM Sitharaman.
FM Sitharaman Tables White Paper On Indian Economy In Lok Sabha
Union Finance Minister Nirmala Sitharaman, on February 8, tabled a 'White Paper' on the Indian Economy in the Lok Sabha.