Finance Minister Nirmala Sitharaman presented a ‘White Paper’ on the Indian economy in the Lok Sabha on Thursday. The document highlighted that in 2014, the economy was in crisis, and presenting a ‘White Paper’ at that time could have created a negative situation, shaking investor confidence.
For substantial economic benefits, tough decisions were taken. The White Paper stated that the NDA government, unlike its predecessor UPA government, made bold decisions for significant economic gains, prioritizing political and policy stability. Finance Minister Nirmala Sitharaman, presenting the White Paper in the Lok Sabha, mentioned that decision-making in the defense sector was delayed due to corruption and scams during the UPA government, compromising defense preparedness. The government faced delays in upgrading artillery, fighter planes, drones, night-fighting gear, and various equipment.
The coal scam shook the country’s conscience. Finance Minister Nirmala Sitharaman stated that the coal scam in 2014 had deeply impacted the nation’s integrity. The allocation of coal blocks before 2014 was done arbitrarily without adhering to a transparent process, leading to a lack of competition and transparency in the coal sector. Investigations by agencies revealed these actions, and in 2014, the Supreme Court canceled the allocation of 204 coal mines/blocks assigned since 1993.
What is a White Paper?
A White Paper is a government document presented to illuminate the policies and achievements of the government. It is named so due to its white cover. Often, ruling parties use it to expose the shortcomings of previous governments and leverage it for political purposes.
