Finance Minister Nirmala Sitharaman presented a ‘White Paper on the Indian Economy’ in the Lok Sabha on Thursday in a bid to highlight the government’s assertion that the nation slipped into the category of “fragile five” economies globally during the 10-year tenure of the previous Congress-led UPA regime between 2004 and 2014.According to the government’s white paper, the Indian economy “was in crisis” in 2014, and releasing a white paper at that time would have potentially contributed to a “negative narrative” and “shaken confidence of investors.”The White Paper claims that the NDA government, benefiting from political and policy stability, “took tough decisions” aimed at achieving “greater economic good,” unlike its preceding UPA administration.The government’s paper claimed that the UPA government had “failed miserably” to facilitate economic activities and instead “created hurdles” that held back the economy.It added that the NDA government undertook bold reforms and built a sturdy superstructure rather than employing quick fixes, adding: “Every challenge of the pre-2014 era was overcome through the NDA government’s economic management and governance.”
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