Finance Minister’s White Paper Highlights UPA Government’s Economic Management Failures: Coal, 2G, Commonwealth Scams

Nirmala Sitharaman presented a white paper in Lok Sabha on Thursday. Discussions on this matter are expected to take place in the upcoming session (Friday). Information regarding India’s economy, both pre and post-2014, has been provided in the 59-page white paper. It reveals how the Uttar Pradesh government incurred losses in economic mismanagement over the past 10 years.

Insights into Economic Reforms: The 2014 Perspective

The white paper notes that the country’s economic soul was rejuvenated under the leadership of Kolsa Kaubhand in 2014. Before 2014, transparent processes for the allocation of Kolasa’s block were not followed.

Reforms in Kolasa: A Step Towards Transparency

Efforts were made to maintain competition and transparency in the Kolasa area. Agencies conducted investigations, leading to the cancellation of the allocation of 204 Kolasa blocks imposed since 1993 by the Supreme Court.

Telecom Spectrum Scandal: A Fiscal Loss

During the tenure, the Uttar Pradesh government auctioned the 2G spectrum, along with 122 telecom licenses, resulting in a loss of Rs 1.76 lakh crore to the government’s treasury. Kolasa’s block incurred a loss of Rs 1.86 lakh crore to the government’s treasury. The Commonwealth Games (CWG) expose political uncertainty.

FDI Inflow and Economic Development

During the period of 2014-23, foreign direct investment (FDI) amounted to $596 billion. This marked a significant increase compared to the FDI received during 2005-2014. We are engaged in bilateral financial negotiations with foreign partners.

Congress Releases Black Paper

Former Congress President Mallikarjun Kharge released a black paper on the 10-year term of the Modi government. He said that the BJP brought 411 opposition MPs to its side in 10 years. They are destroying democracy. Congress has termed their ten-year rule as a period of injustice.

Job Crisis and Assault on Democracy

Kharge said that Modi says that so much money is going abroad now, why was it not there before, they are misleading and suppressing and hoarding money during elections. They are spending this money to destroy democracy.

Political Realignment and Governance Assessment

In the last 10 years, the BJP has bought 411 opposition MPs to its side. I am not saying how much money has been spent to buy them. You know how many of our governments were elected in states like Madhya Pradesh, Goa, Manipur, Uttarakhand. You know how the governments here have fallen. If they want to threaten us by scaring us, then Congress or I will not be affected by them.

Niyati Rao

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