Union Finance Minister Nirmala Sitharaman on Thursday tabled a White Paper on the Indian economy in the Lok Sabha and compared it with the United Progressive Alliance\u00a0(UPA) government\u2019s records.<\/p>\n\n\n\n
Tabling the White Paper, Sitharam said when BJP came to power in 2014, the economy was in a fragile state, public finance was in bad shape, economic mismanagement and it was a crisis situation.<\/p>\n\n\n\n
In the White Paper, the Modi government mentioned that the UPA government inherited a healthy economy ready for more reforms but made it non-performing in its ten years.<\/p>\n\n\n\n
The Modi-led BJP government has said that the UPA government in its quest to maintain high economic growth by any means after the global financial crisis of 2008, had worsened it and severely undermined the macroeconomic foundations.<\/p>\n\n\n\n
The White Paper presented by Sitharaman further underlined the inflation in the country between 2009 and 2014. There were high fiscal deficits for six years between the Financial Year 2009 and 2014 that heaped misery on ordinary and poorer households. <\/p>\n\n\n\n
Over the five-year period from 2010 to 2014, the average annual inflation rate was in double digits, adding that, Sitharaman further mentioned that the average annual inflation in the economy was 8.2 percent between 2004 and 2014.<\/p>\n\n\n\n
According to the White Paper, the banking crisis was one of the most important and infamous legacies of the UPA government. The White Paper also mentioned that the GNPA ratio in Public Sector banks decreased from 16.0% to 7.8% during the tenure of the Vajpayee-led NDA government.<\/p>\n\n\n\n
The ratio, including restructured loans, had reached 12.3% in September 2013, mainly due to political interference by the UPA government in the commercial lending decisions of public sector banks. Worse, even that high percentage of bad debts was an underestimate, the Modi government claimed.<\/p>\n\n\n\n
The White Paper also highlighted that when the BJP government took charge in 2015, the pace of national highway construction languished at 12 km\/day. The pace of construction has risen more than 2.3X to 28 km\/day now. While the UPA government laid nearly 16,000 km length of national highways in their 10 years of governance, the BJP government has already done at least three times better than this in its nearly 10-year rule, said the government in White Paper.<\/p>\n","protected":false},"excerpt":{"rendered":"
The economy was in a fragile state, public finance was in bad shape, economic mismanagement and it was a crisis situation.<\/p>\n","protected":false},"author":4,"featured_media":501328,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","footnotes":"","jetpack_publicize_message":"FM Nirmala Sitharaman tables White Paper on Indian economy in Lok Sabha, compares it with UPA records","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1497,125714],"tags":[1637,18674,74825],"yst_prominent_words":[],"ppma_author":[140543],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/d2r2ijn7njrktv.cloudfront.net\/apnlive\/uploads\/2024\/02\/08193117\/Nirmala_Sitharaman_1707386908722_1707386908907-1.webp","jetpack_sharing_enabled":true,"authors":[{"term_id":140543,"user_id":4,"is_guest":0,"slug":"apnnewsdesk","display_name":"APN Live","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/478eacb893eda88aa6ed8d99b005bf58?s=96&r=g"}],"_links":{"self":[{"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/posts\/501319"}],"collection":[{"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/comments?post=501319"}],"version-history":[{"count":0,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/posts\/501319\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/media\/501328"}],"wp:attachment":[{"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/media?parent=501319"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/categories?post=501319"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/tags?post=501319"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/yst_prominent_words?post=501319"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/ppma_author?post=501319"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}