Modi Govt’s White Paper Accuses UPA of Decade-long Economic Mismanagement
GG News Bureau
New Delhi, 9th Feb. In a scathing critique ahead of the Lok Sabha elections, the Modi government released a comparative White Paper, slamming the UPA’s decade-long governance for transforming a healthy economy into a non-performing one. The White Paper, tabled by Union Finance Minister Nirmala Sitharaman on Thursday, lambasted the UPA for leaving behind a legacy of economic mismanagement and undermining the nation’s macroeconomic foundations.
Describing the UPA’s tenure as a “lost decade,” the White Paper highlighted a series of shortcomings, including fiscal indiscipline, widespread corruption, and neglect of crucial sectors like defense and infrastructure. It accused the UPA of abandoning the principles of economic liberalization and failing to capitalize on the growth momentum initiated by previous reforms.
According to the White Paper, the UPA government failed to contain high inflation, with an average annual inflation rate of around 8.2% between 2004 and 2014. Moreover, it criticized the UPA’s fiscal policies, which led to a huge fiscal deficit and borrowing heavily from outside, but utilizing the funds in an unproductive manner.
The White Paper also pointed out the UPA’s negligence in implementing social sector schemes, resulting in significant unspent funds across major ministries. Additionally, it highlighted the UPA’s failures in defense preparedness, citing chronic shortages of combat-ready equipment and ammunition.
A substantial portion of the White Paper was dedicated to detailing the various scams and irregularities that plagued the UPA government, ranging from telecom sector scams like 2G and Aircel-Maxis cases to corruption allegations in coal block allocations and defense procurement.
Contrasting the UPA’s record, the White Paper praised the Modi government’s efforts since taking office in 2014, emphasizing the implementation of reforms that propelled India’s economic transformation. It highlighted the country’s progress from the “Fragile Five” to the top ranks of global economies.
While acknowledging achievements, the White Paper also acknowledged the challenges ahead, underscoring the goal of making India a developed nation by 2047. It pledged continued efforts towards reforms and self-reliance.
The White Paper is set to be discussed in parliament today, where the Congress is expected to mount a strong rebuttal. Prior to its release, the Congress had presented a “Black Paper” targeting the government, criticizing its handling of issues like job creation and economic inequality.
As political tensions escalate ahead of the elections, both parties are gearing up for a heated electoral battle.
Comments are closed.