Lok Sabha takes up discussion on White Paper on the Indian Economy

Last Updated: Feb 09, 2024

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The Lok Sabha has taken up discussion on the White Paper on the Indian Economy and its impact on the lives of the people of the country. Finance Minister Nirmala Sitharaman laid the White Paper in the Lower House today. N K Premachandran of RSP and TMC leader Saugata Ray moved a substitute motion against the White Paper.

In her remarks, the Finance Minister said, that after ten years of pulling the Indian Economy from the fragile five and taking it to reach the stage of the top five economies, the White Paper has been laid by the government. She said, the paper is laid with responsibility so that the records have factual information on the economy. The Minister said, it would be a record for posterity for entire India’s youth so that they know what effort it took for the Government led by Prime Minister Narendra Modi with a vision to restore India to its glory. She said, UPA left the economy in a critical state, and under the leadership of the Prime Minister the situation improved and now the country is well-respected across the globe. She alleged that the coal scam and other scams during the UPA regime put the country’s economy in serious trouble. Ms Sitharaman said, the coal scam had resulted in the loss of 1.86 lakh crore rupees to the exchequer.

She said, on the other hand, the Modi Government has ensured transparent auction of coal blocks. Talking about Non-Performing Assets, the Finance Minister accused the UPA Government of doing favour to certain entities and individuals by bypassing the norms, which increased their numbers.

Congress MP Manish Tewari said hit out at the Government terming the white paper as a political manifesto. He asked why the NDA government did not bring out a White Paper in 2014 and waited for 10 years. He listed out achievements of the UPA government including bringing out MGNREGA and AADHAR. Mr Tewari criticized the Government for demonetisation of high-value currencies and GST saying it adversely impacted MSMEs. He questioned the Government on the unemployment rate saying in 2023-24 unemployment rate reached around nine percent unlike in 2013-14 it was 4.9 percent. Mr Tewari also claimed that during UPA rule 27 crore people were pulled out of poverty while in the current government, the number is 25 crore. The Congress leader also attacked the Government over inflation.

The discussion is underway.

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