Team Blitz India
NEW DELHI: Finance Minister Nirmala Sitharman on February 8 laid a White Paper on Indian Economy in the Lok Sabha. It states that when the BJP-led government came to power in 2014, the economy was in a fragile state, public finances were in bad shape, there was economic mismanagement and financial indiscipline, and there was widespread corruption.
“It was a crisis situation. The responsibility to mend the economy step by step and to put the governance systems in order was enormous. Our government refrained from bringing out a white paper on the poor state of affairs then. That would have given a negative narrative and shaken the confidence of all, including investors.
“The need of the hour was to give hope to the people, to attract investments, both domestic and global and to build support for the much-needed reforms,” the White Paper said.
It said the government believed in ‘nation-first’ and not in scoring political points.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,” the White Paper said.
