Tuesday, March 5, 2024
Tuesday, March 5, 2024
HomeIndia'UPA made economy unproductive in 10 years': Modi Govt White Paper

‘UPA made economy unproductive in 10 years’: Modi Govt White Paper


New Delhi:

The UPA government had “inherited a healthy economy but left it unperforming in 10 years”, the Center said in its comparative White Paper on the 10 years of the UPA and the decade under Prime Minister Narendra Modi. In an all-out attack on the Congress ahead of the Lok Sabha polls, the Center accused the UPA government, which left power in 2014, of leaving behind “an unenviable legacy of a structurally weaker economy and a pervasive atmosphere of despondency.” “. .

Calling it a “lost decade”, the UPA, the Center claimed, had left a trail of economic mismanagement and “shortsighted management of public finances…and undermining of macroeconomic foundations”.

The government abandoned the principles that brought about economic liberalization. There was economic mismanagement and financial indiscipline, and there was widespread corruption, the Center said, slamming the Manmohan Singh government on the day his Rajya Sabha term ends.

“In 2004, when the UPA government began its tenure, the economy was growing at 8 per cent (with industrial and service sector growth exceeding 7 per cent each and agricultural sector reviving growth exceeding 9 per cent). cent in fiscal year 2004) amid a benign global economic situation. environment,” reads the White Paper tabled in Parliament this afternoon by Union Finance Minister Nirmala Sitharaman.

But instead of taking the reforms further and consolidating the gains, the UPA only “took credit” for the high growth brought about by the “delayed effects of the NDA government’s reforms and favorable global conditions”.

The White Paper claims that the average annual inflation rate between 2004 and 2014 was around 8.2% and accuses the UPA of doing nothing to contain high inflation.

After pursuing policies that created a huge fiscal deficit, the UPA government borrowed heavily from abroad but used the funds unproductively. Infrastructure was neglected and development programs were poorly managed. Even the social sector schemes, which the UPA prided itself on, were laden with unspent funds, the Center said on an issue that is likely to provoke a strong reaction from the Congress.

“In the 14 major social and rural sector ministries, a total of Rs 94.06 billion of budgeted expenditure remained unspent” during the 10 years. This, the Center said, was 6.4 per cent of the cumulative budget, compared to 1 per cent that the NDA government did not spend over the last decade.

The UPA government, he added, had also ignored defense preparedness and health spending, making them a “hotspot” for Indian households.

A portion of the White Paper was dedicated to the mismanagement and scams plaguing the defense sector. “In 2012, the shortage of combat-ready equipment and ammunition was a chronic problem affecting our forces. It is also worth remembering the long process of procurement of combat aircraft, which never reached any conclusion. Even the decision to provide vests bulletproof glasses and night vision goggles for Indian Army soldiers was hanging for years,” the White Paper reads.

The UPA had also failed when it came to attracting investments and facilitating wasteful business, issues that have become the motto of the NDA government. “The UPA government’s political inaction and missteps delayed valuable private investment, which could have generated growth and employment, at its own peril,” the White Paper reads.

A section of the White Paper was dedicated to scams that the UPA government was accused of: the 2G scam and the Aircel-Maxis cases in the telecom sector, coal block allocations, the Commonwealth Games , the Saradha check fund, the INX Media case, the irregularities during the Commonwealth. games and the Augusta Westland helicopter scam and the purchase of Hawk aircraft in the Defense sector.

When it came to power in 2014, Narendra Modi’s government “recognized
“The urgent need to modernize and review systems and processes.” The reforms undertaken have moved the country back from the league of the “fragile five” to that of the “top five.”

The newspaper, however, added that there are “miles to travel and mountains to climb before sleeping” as the goal is to make India a developed nation by 2047.

Sources said all state units of the party will create awareness about the white paper. From efficient tax collection to reforms such as the solvency code, the emphasis on self-sufficiency will be discussed at length.

The White Paper will be discussed in parliament tomorrow, when Congress is expected to present a strong rebuttal. Before the White Paper, the party had presented a ‘Black Book’ addressed to the Centre.

“The government will never say how many people got jobs. They are releasing MNREGA funds. They are discriminating against states,” Kharge said, criticizing the government for perpetually attacking the Congress.

“Despite being in power for 10 years, instead of talking about himself, he only criticizes the Congress Party. Even today he doesn’t talk about price rise, unemployment and economic inequality?” Mr. Kharge said. “The ‘Modi Ki Guarantee’ is just for spreading LIES!” he added, citing the huge campaign undertaken by the BJP ahead of the Lok Sabha elections scheduled for the summer.



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