New Delhi: The Bharatiya Janata Party is anticipated to introduce a ‘White Paper‘ motion as an additional agenda in the Lok Sabha on Thursday. This White Paper, focusing on the nation’s economy, aims to draw comparisons between the UPA years and the decade-long governance of the Modi government. This documentation addressing economic management issues is poised to conclusively resolve the longstanding debate surrounding the ‘issue of the economy’ ahead of the upcoming Lok Sabha elections.

Documenting Insight: The Significance and Intent of White Papers

BJP leader and Chairman of the Standing Committee on Finance, Jayant Sinha, expressed on Wednesday that the government’s forthcoming ‘white paper’ aims to underscore the nation’s “challenging economic state” during the Congress-led UPA’s departure from power and highlight the positive transformation brought about by the current administration.

Sinha emphasized, “India’s GDP growth had decelerated to five percent, inflation had surged to ten percent, and banks’ non-performing assets had risen to ten percent. The country confronted a balance of payment crisis.” The Hazaribagh MP from Jharkhand asserted that presenting this information is essential to demonstrate the economic shift that has occurred. He stated, “There were shortcomings in every sector… If the economy is thriving today and progressing rapidly, it is attributable to our policies and efforts over the past 10 years.”

As the government prepares to present the ‘White Paper,’ Parliamentary Affairs Minister Pralhad Joshi announced the extension of the ongoing Budget session of Parliament by one day, concluding on February 10 (Saturday).

PM MODI’S TAKE ON ECONOMY
Prime Minister Narendra Modi, on Wednesday, gave a fiery speech in the Rajya Sabha during his reply to ‘Motion of Thanks’ to President Droupadi Murmu’s address on January 31.

He took a jibe at the Congress and said that it “openly strangled the democracy”. He said, “the Congress that dissolved democratically-elected governments overnight, the Congress that jailed the Constitutional decorum, the Congress that tried to lock up newspapers – that Congress has now acquired the habit to create narratives of breaking the country.”

He highlighted the difference in the growth of the nation’s economy and said that Congress spent 10 years in bringing India from 12th to 11th rank, just one position up.

“The Congress that brought India’s economy from number 12 to number 11 in 10 years, we brought India’s economy to number 5 in just 10 years and this Congress is here to give us long speeches on economic policies,” the prime minister said.

“During the Congress’ time…we were in fragile five,” PM Modi said, adding that now our economy is “in top five”.

WHO WILL PRESENT THE WHITE PAPER

Finance Minister Nirmala Sitharaman will present the ‘white paper’ in both the Lok Sabha and the Rajya Sabha. Sitharaman, during her interim Budget speech and also said that the central government would table the ‘white paper’.

“The crisis of those years has been overcome, and the economy has been put firmly on a high sustainable growth path with all-round development,” the finance minister had said during her speech on February 1.

“It is now appropriate to look at where we were then till 2014 and where we are now, only for the purpose of drawing lessons from the mismanagement of those years. The government will lay a ‘white paper’ on the table of the House,” Sitharaman had said.

OPPOSITION’S TAKE ON ‘WHITE PAPER’

Leader of Congress in Lok Sabha, Adhir Ranjan Chowdhury said that they have no “problem” with the Centre’s ‘White Paper’. Talking to news agency ANI, Chowdhury said “But Mehul Choksi’s papers should also be brought to the House. Why are banks looted under their government? What is their relation with those who loot banks and run away abroad?…”

RJD MP Manoj Jha, on the other hand, said that “white paper will turn into a white elephant”. “White paper means you can specify the number of jobs given…where have you reached? So this isn’t white paper but a white elephant just before the elections,” Jha added.

Earlier, DMK MP Dayanidhi Maran had said, “The Finance Minister took a long time to hail praises but delivery was zero. They are going to present a white paper on the previous government… Nothing much has happened in the last 10 years.”

Talking to reporters, Maran said, “The people of the country are already disappointed. Moreover, you realise that performance incentives are given to the bridge companies, and not going to the deserving ones. People are rejected with this budget.”