Key Points
New Delhi:The Congress-led United Progressive Alliance (UPA) government inherited a healthy economy in 2004 but reduced it to a state of non-performance in its 10 years, the Modi government said in a white paper tabled Thursday in Parliament...
The white paper, which had been announced by Finance Minister Nirmala Sitharaman during her interim budget 2024 speech on 1 February, attacked the UPA government on a number of counts, including double-digit inflation, high levels of bad debt in the banking system, raising Indias vulnerability to external shocks, and a mismanagement of public funds characterised by numerous scams...
In her budget speech, Sitharaman had said the government would be tabling a white paper on the Indian economy as 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...
Acknowledging that States are equal partners in development, our government, in the true spirit of cooperative federalism, accepted the recommendations of the 14th and 15th Finance Commission, the white paper says.. Around 41-42 percent of Central taxes have been shared with the States every year over the last decade, it adds..
Right from spearheading the digital revolution to elimination of open defecation, and from successfully vaccinating the entire eligible population using indigenous vaccines to substantially diversifying exports, India has achieved remarkable milestones under our new governance paradigm, it says.. It adds that the Modi government has gotten rid of a number of inefficiencies through the simplification and rationalisation of a number of laws, adopting a trust-based and responsive delivery machinery, implementing ease of doing business reforms, bringing in inclusive scheme designs focused on partnerships with the citizens and also with the States through strengthened cooperative federalism...
