The BJP is likely to move a “white paper” motion in the Lok Sabha as a supplementary agenda on Thursday. The national economic white paper will compare the UPA period and the ten years of the Modi government.

The document on economic mismanagement is likely to settle the long-standing debate on the “economic problem” once and for all ahead of the Lok Sabha elections.

What is the purpose of a “white paper”?

BJP leader and Finance Standing Committee Chairman Jayant Sinha on Wednesday said the government’s proposed “white paper” would highlight the country’s “poor economic situation” when the Congress-led UPA falls from power , and how incumbent relief can bring about a turnaround.

“India’s GDP growth has slowed to 5 per cent, inflation has risen to 10 per cent and banks’ non-performing assets have risen to 10 per cent. The country is facing a balance of payments crisis,” said a spokesman from Hazaribagh in Jharkhand said the MP.

He said, “It is necessary for us to show people how the economy has changed… There are flaws in every sector… If the economy is doing well today and moving forward quickly, it is because of our policies and work over these 10 years.”

As the government prepares to submit the “white paper”, Parliamentary Affairs Minister Pralhad Joshi said the ongoing budget session of Parliament has been extended by one day to February 10 (Saturday).

PM Modi’s views on the economy

Prime Minister Narendra Modi on Wednesday delivered a fiery speech in the Lok Sabha, responding to the “motion of thanks” delivered by President Drupadi Murmu on January 31.

He mocked Congress and called it a “blatant stifling of democracy.” “Congress has dissolved an elected government overnight, Congress has imprisoned constitutional decorum, Congress has tried to lock down newspapers — Congress has now made a habit of creating narratives that undermine the country,” he said.

Highlighting the disparity in the country’s economic growth, he said it took Congress 10 years to improve India’s ranking from 12th to 11th, a move up just one spot.

“Congress has taken India’s economy from 12th to 11th in 10 years, we have taken India’s economy to 5th in just 10 years and this Congress will give us a long speech on economic policy,” the Prime Minister said.

“During the Congress… we were in the fragile top five,” PM Modi said, adding that now our economy is “in the top five”.

Who will publish the white paper

Finance Minister Nirmala Sitharaman will present the “white paper” in the Lok Sabha and the Union House. In her interim budget speech, Sitharaman also said that the central government will submit a “white paper”.

In his speech on February 1, the Finance Minister stated that “the crisis of that year has been overcome, and the economy has firmly embarked on a path of high-speed growth that is sustainable and comprehensive.”

“It is time to look back at where we were before 2014 and where we are now, just to learn lessons from those years of mismanagement. The government will put a ‘white paper’ before the House,” Sitharaman said.

Opposition views on the White Paper

Lok Sabha Congress leader Adhir Ranjan Chowdhury said they had no “issue” with the Centre’s “white paper”. Speaking to news agency ANI, Chaudhry said, “But Mehul Choksi’s papers should also be brought before the House. Why are banks being looted under the government? What do they have with those who rob banks and flee abroad? relation?……”

On the other hand, RJD MP Manoj Jha said, “The white paper will turn into a white elephant”. “The white paper means you can specify the number of jobs to be provided… to what extent have you reached? So this is not a white paper but a white elephant on the eve of the election,” Jia added.

Earlier, DMK MP Dayanidhi Maran had said, “The finance minister took a long time to praise but the delivery rate was zero. They will submit a white paper on the previous government…for the past ten years Nothing big happened during the year.”

Malan said in an interview with reporters: “People across the country have been disappointed. In addition, you realize that performance incentives are given to bridge companies, not to deserving companies. People rejected this budget.”

(With PTI, ANI input)