‘White Paper’ On Economy Will Be Tabled In Parliament

While presenting the Interim Budget 2024-25 in Parliament, finance minister had announced that the Government will lay a White Paper on the table of the House. The ongoing Budget Session...

Ruby Thakur
February 8, 2024
69

Ruby Thakur
February 8, 2024
69

While presenting the Interim Budget 2024-25 in Parliament, finance minister had announced that the Government will lay a White Paper on the table of the House. The ongoing Budget Session of the Parliament has been extended by one day till February 10. There are reports that the extension has been done to allow for the presentation of a White Paper to contrast the condition of the Indian economy before and after 2014.

‘White Paper’ On Economy Will Be Tabled In Parliament

Why In News

While presenting the Interim Budget 2024-25 in Parliament, finance minister had announced that the Government will lay a White Paper on the table of the House.

The ongoing Budget Session of the Parliament has been extended by one day till February 10. There are reports that the extension has been done to allow for the presentation of a White Paper to contrast the condition of the Indian economy before and after 2014.
A ‘White Paper’ to compare the economic performance of 10 years of the Congress-led UPA government with that of 10 years of the BJP-led NDA government.

What Is White Paper

A White Paper is a report, guide, research-based paper or formal government document that presents expert analysis about a topic or solution to a problem, policy proposals, often bound in white covers. They have been used historically to introduce new policies or legislation and gauge public reaction to government initiatives, its schemes or policies.

Types of White Paper

Economic White Paper : It contains an analysis on the current state of the economy and talks about challenges, opportunities it faces. The paper also contains government’s plans and strategies to address the issues.
Budget White Paper : A Budget White Paper contains governments budgetary priorities, spending scheme, revenue sources, fiscal projections among other issues.
Policy White Paper : A Policy White Paper talks about a specific policy, scheme or program of the government to address a particular issue or problem in the economy.

All You Need To Know

Government’s proposed ‘white paper’ comparing the economic situation before and after 2014 is likely to be introduced in the Lok Sabha.
The white paper will highlight the country’s “poor economic condition” during that time and how the Modi government improved the economy, said BJP’s Jayant Sinha, chairman of the parliamentary finance committee.

Finance Minister Nirmala Sitharaman first made the call for a white paper in her budget speech, stating that India was in a “crisis” in 2014 when the Modi government came to power and overcame “crisis of those years” to put the economy on a sustainable growth path.
The Centre is bringing a white paper this Budget session to clarify how the Modi government brought a turnaround after – as ministers claimed – the Congress-led UPA government left the economy in a “crisis” state in 2014.
“In the white paper, we will clarify what was the position of economy (before 2014) and how we have tackled the economic problems,” said Mr Sinha, claiming that India was among the ‘fragile five’ economies in 2013.

Ms Sitharaman, in her budget speech, had said it is the appropriate time to look where the country was till 2014 and draw lessons from the “mismanagement of those years”.
The government has often charged the Congress with mismanaging the economy and ‘white paper’ will provide them a handle to attack the opposition ahead of the Lok Sabha elections, due in another two months.

Modi Government Issued White Papers

Rules of Procedure and Conduct of Business in the Lok Sabha contain no specific guidelines on the issue or tabling of white papers. There are also no guidelines to govern how often a government is required to present a white paper. Similarly, there are no specific guidelines on the subject on which white papers are meant to be issued.
The government can choose to issue or table white papers on any subject it deems fit, at any given point of time during its tenure.
The Opposition is well within its right to demand a white paper from the government on issues which it needs clarity on, as it has done often in the recent past. On Tuesday as well, Opposition MPs in the Rajya Sabha demanded that the government table a white paper on recovery of black money, an issue on which it has been very aggressive.

“The Panama and Pandora Papers revealed the names of thousands of rich Indians who had parked black money in different tax havens. I demand a white paper from the government on this issue. No more empty promises, let the people know,” Trinamool Congress (TMC) MP Md Nadimul Haque said during his address on the Motion of Thanks to the President’s Address.
Despite the frequent demands from the Opposition, the NDA government under Modi has tabled only two white papers so far – on the Railways in August 2014 which detailed its dynamic revenue earning model, freight and fare rationalisation, and capacity augmentation.

To crack the SSB Interview, You can join our SSB interview live classes batch and we recommend you to Enroll SSB INTERVIEW ONLINE COURSE. Trusted by thousands of defence aspirants.

Book Your SSB Interview Class Now – Click Here

Enroll In Our SSB Interview Course

White-Paper-On-Economy-Will-Be-Tabled-In-Parliament Download

Ruby Thakur

General Studies Lecturer SSBCrackExams, BSc In PCM, Trained Students For State Services Exams. Expertise in Geography ,Polity & Current Affairs. Love Travelling.