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Nirmala Sitharaman: ‘White paper needed on economic mismanagement during UPA govt, 10 glorious years lost'
Sitharaman recently announced that Centre will present a white paper on the economic performance of the last 10 years compared with previous 10 years.
Union finance minister Nirmala Sitharaman on Friday said that the central government felt the need for a ‘white paper’ over the “mismanagement” of the Indian economy before 2014 during the UPA-led government, saying that “glorious 10 years were lost”.
Hitting out at the previous Congress government, Sitharaman said, "The kind of impact that it had, the mismanagement, it is not just talking about policy paralysis for a fragile five, it’s talking about every one of these steps, which, number one were immoral in the sense of not being right, and equally the kind of positive effect, if it had happened very well in a transparent fashion, it would have had on the economy. We lost 10 glorious years,” Sitharaman said during an interview with News18.
'Policy paralysis during UPA'
The finance minister added that during the 10 years of the UPA government, the country saw policy paralysis, corruption, and loss of endowments. According to Sitharaman, restoring the economy's position in the last 10 years of the BJP government and now getting closer to the world's third-largest economy has been a “herculean task”. However, she said that is grateful that the country has a Prime Minister like Modi.
Also read: No appeasement; no denial; budget a pillar of growth: Sitharaman
Sitharaman's remark comes after she announced that the Centre will present a white paper on the economic performance of the last 10 years compared with the previous 10 years during the 2024-25 interim budget on Thursday.
Notably, a white paper is a way the government can present policy preferences before it introduces a legislation.
Earlier while presenting the interim budget, Sitharaman lauded the central government saying it has “got the trust, confidence, and blessings of the people based on its exemplary track record of GDP that is Governance, development and performance.”
