In what promises to be a contentious session, Lok Sabha is set to witness intense deliberations on Friday as members are likely to engage in discussions on the ‘White Paper’ presented by Union Finance Minister Nirmala Sitharaman. The document compares the economic management during the 10 years of the Congress-led UPA government with that of the 10 years of the Bharatiya Janata Party-led NDA rule.

As per the day’s agenda in the Lower House, Sitharaman is set to propose a motion, “That this House do consider the White Paper on the Indian Economy and its impact on the lives of the people of India,” as ANI reported.

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The nearly 60-page White Paper, tabled by Sitharaman in both Lok Sabha and Rajya Sabha on Thursday, asserts that the banking crisis stands out as one of the noteworthy legacies of the UPA government. It alleges that the UPA government abandoned reforms after assuming power in 2004, failing to build upon the foundation laid by the preceding BJP-led NDA government.

“In the years between 2004 and 2008, the economy grew fast, thanks to the effects of the reforms of the NDA government and favourable global conditions. The UPA government took credit for the high growth but did little to consolidate it. The failure to take advantage of the years of high growth to strengthen the budget position of the government and invest in infrastructure to boost future growth prospects stood exposed,” the White Paper read, ANI reported.

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The document accuses the UPA government of neglecting opportunities for strengthening the budget position and investing in infrastructure during the years of high growth. It further alleges political interference in the lending decisions of public sector banks, contributing to a banking crisis.

The White Paper also references scandals in the defence sector, including delays in acquiring weapons and compromises in defence preparedness. It highlights the “coal scam,” noting the arbitrary allocation of coal blocks before 2014, leading to the cancellation of 204 coal mines/blocks by the Supreme Court in 2014.

Also Read:Nirmala Sitharaman tables ‘white paper’ on Indian economy in Lok Sabha

Controversies such as the 2G spectrum scam, the coal gate scam, and the Commonwealth Games (CWG) are cited as detrimental to India’s image as an investment destination.

Meanwhile, in Rajya Sabha, the Union Minister of State for Home, Nityanand Rai, is set to present the Jammu and Kashmir Local Bodies Laws (Amendment) Bill, 2024, for consideration and passage. Additionally, Union Minister Jitendra Singh will introduce the Public Examinations (Prevention of Unfair Means) Bill, 2024, aiming to curb unfair practices in public examinations.

The Budget Session, which initially was scheduled to conclude on February 9, was extended by a day and will now conclude on February 10.