I Challenge Anyone Who Says This Document Is Baseless: Sitharaman On White Paper Debate

The finance minister lambasted the previous UPA of prioritising “family first” and leaving the nation in “dire straits” in 2014, while now attempting to lecture the government on economic governance

Nirmala Sitharaman said Defence Budget has doubled during the past 10 years, from Rs 2.53 lakh crores in In 2013-14, to Rs 6.22 lakh crores in 2024-25. ( Image Source :PTI )

Finance Minister Nirmala Sitharaman on Friday in the Lok Sabha launched a scathing attack on the previous Congress-led UPA government's handling of the economy. During the debate on the ‘White Paper’ on Indian economy, Sitharaman said that the Centre had steered the economy from being one of the 'fragile five' to now ranking among the 'top five'. She highlighted India’s trajectory toward becoming the third-largest global economy under the current administration's stewardship.

The finance minister accused the UPA of prioritising “family first” and leaving the nation in “dire straits” in 2014, while now attempting to lecture the Modi government on economic governance. “I challenge anyone who says this document is baseless. Everything is with evidence. I challenge anyone who says that we have kept the White Paper which has no proof,” Sitharaman said.

White Paper | In Lok Sabha, FM Nirmala Sitharaman says, "I challenge anyone who says this document is baseless. Everything is with evidence. I challenge anyone who says that we have kept the White Paper which has no proof." pic.twitter.com/MXzj58WVwk

— ANI (@ANI) February 9, 2024

Drawing attention to the UPA's governance failures, Sitharaman cited instances such as the coal scam, which she asserted had cost the nation dearly in terms of revenue, jobs, and investments. She contrasted the UPA's opaque handling of the coal sector with the Modi government's transparent coal auctions, which she credited with revitalising the industry.

The minister also criticised the UPA for instances of corruption and mismanagement, including the Commonwealth Games scam, while highlighting the Modi government's successful hosting of the G20 summit.

Turning to the banking sector, Sitharaman blamed the UPA's “phone banking” practices for the surge in bad loans and contrasted it with the Modi government's measures, which she claimed had reduced non-performing assets (NPAs) and boosted bank profitability.

During her speech in Parliament, Sitharaman said, “Defence Budget has doubled during the past 10 years. In 2013-14, it was Rs 2.53 lakh crores. Now, it is Rs 6.22 lakh crores in 2024-25. Capital expenditure, including border roads and for defence forces, equipment investments, defence capital budget increased from Rs 86,741 crores in 2013-14 to Rs 1.72 lakh crores this year.”

The finance minister juxtaposed the responses of successive governments to crises, emphasising the importance of sincerity, transparency, and national interest in achieving positive outcomes.

She contrasted the handling of the 2008 global financial crisis with the response to the Covid-19 pandemic, lauding the government's approach in providing free vaccines and managing the crisis with diligence.