FM Nirmala Sitharaman tables white paper on Indian economy in Lok Sabha
The Hindu
Finance Minister Nirmala Sitharaman presents a 'White Paper on the Indian Economy' highlighting economic challenges and government measures.
Finance Minister Nirmala Sitharaman on February 8 tabled a 'White Paper on the Indian Economy' in the Lok Sabha.
“When we formed the government in 2014, the economy was in a fragile state; public finances were in a bad shape; there was economic mismanagement and financial indiscipline, and there was widespread corruption. It was a crisis situation” the white paper, tabled by the Finance Ministry, noted.
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“Now that we have stabilised the economy and set it on a recovery and growth path, it is necessary to place in the public domain the seemingly insurmountable challenges – left behind as a legacy by the UPA Government,” it said.
According to the Finance Ministry, the White Paper has four objectives. Firstly, to apprise people of the “nature and extent of governance, economic and fiscal crises” when the Narendra Modi-led government took over in 2014.
The paper also said it is to inform about the policies and measures taken by the government under Mr. Modi to “restore the health of the economy and make it vigorous and capable of fulfilling the growth aspirations of the people in the present and in the Amrit Kaal”.
The Ministry, through the paper, also “hopes to generate a wider, more informed debate on the paramountcy of national interest and fiscal responsibility in matters of governance over political expediency”. And lastly, “to commit ourselves to national development, with new inspirations, new consciousness, new resolutions, as the country opens up immense possibilities and opportunities.”