Modi Government Presents 'White Paper On Indian Economy': Everything You Need To Know

A copy of the 'White Paper on the Indian economy' was presented in Lok Sabha today (February 8) by Finance Minister Nirmala Sitharaman.

Earlier, the supplementary list of business of the House on Thursday indicated that a copy of the White Paper would be laid by the minister, reported ANI.

The Budget session of Parliament has been extended by a day until 10 February, Saturday. It was announced by Parliamentary Affairs Minister Pralhad Joshi that a "White Paper" comparing the state of the Indian economy before and after 2014, when the BJP came to power after defeating the Congress, will be tabled by the government, on Tuesday, 6 February.

Considering agenda items such as the Finance Bill, budget discussion, and demand for grants yet to be taken up by Parliament and the White Paper also to be tabled, PTI sources had suggested that it was necessary to extend the session's duration by a day.

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While announcing the extension, it was stated by Speaker Om Birla, "The proposal has been made by the Honourable Minister of Parliamentary Affairs that the 15th session of the 17th Lok Sabha be extended till Saturday, 10 February 2024 to dispose of the necessary government business."

What is a White Paper?

A White Paper is a government document that highlights new policies, issues, and accomplishments and is based on facts and research. According to Stanford Law School, the document can be accessed by the public.

A White Paper is defined by Stanford Law School as "an authoritative report or guide that often addresses issues and how to solve them". Thus, it is "used in politics and business, as well as in technical fields, to educate readers and help people make decisions".

At any time during its tenure, the government may decide to issue White Papers on any topic, as reported by News18. In 1922, following the riots in the Jaffa region, one of the first White Papers outlining the government's strategy on Palestine was published by then-British Prime Minister Winston Churchill.

What is the purpose of the document?

As per another report by News18, the White Paper will likely include several segments, including trade, monetary, fiscal, and exchange rate policy, as well as demonstrate, evaluate, and assess the Indian government's overall economic policy over the years.

According to News18, statements made by Standing Committee on Finance chairperson Jayant Sinha on Wednesday highlighted that India's GDP growth had slowed down to five per cent, inflation had risen to ten per cent, and NPAs of banks had risen to ten per cent. It was emphasized that the country was facing a balance of payment crisis.

It was further emphasized by the BJP MP from Jharkhand's Hazaribagh that it is deemed necessary to present before the people how a change has been brought into the economy. It was pointed out that there were deficiencies in every sector. It was emphasized that if the economy is shining today and progressing rapidly, it is due to the policies and work carried out in these 10 years.

How often do governments present it?

There are no specific rules regarding the issuance or tabling of White Papers in the Lok Sabha's Rules of Procedure and Conduct of Business. Furthermore, there are no regulations dictating how frequently a government must publish a White Paper, according to Indian Express.

To date, two White Papers have been released by the government led by Modi: one on the revenue model for the railways in August 2014, and the other on the rationalisation of freight and fares.

The latest "White Paper" to highlight the country's poor economic condition when the Congress-led UPA left power, as often charged by the government led by Prime Minister Narendra Modi, and how the incumbent dispensation brought the turn around will be presented by Finance Minister Nirmala Sitharaman. It will be tabled in both Rajya Sabha and Lok Sabha, reported PTI.

Parliament usually does not function on weekends but there have been instances in the past when the Houses have met on Saturdays.

During the presentation of the interim Budget 2024-25 in Parliament, it was stated that India's economy was in "crisis" in 2014, the year the Modi government took power, and blamed previous governments for the "mismanagement." "The crisis of those years has been overcome, and the economy has been put firmly on a high sustainable growth path with all-round development," the finance minister said during her speech on 1 February.

It was announced that a White Paper will be laid on the table of the House by the government "to look at where we were then till 2014 (during Congress-led government) and where we are now, only for the purpose of drawing lessons from the mismanagement of those years."

Who else can present it?

According to News18, White Papers can be presented by state assemblies. In a recent White Paper, accusations were made by Telangana chief minister Revanth Reddy against K Chandrashekar Rao's BRS government for mismanaging the state, claiming that the state debt increased from Rs 76,000 crore to Rs 6 lakh crore under his leadership.

Last year in July, the Chhattisgarh Congress administration was requested for a White Paper on buying grain from farmers by the BJP.

As has been done numerous times recently, the right to demand a White Paper from the government on matters regarding which it is unclear is also possessed by the Opposition. According to Indian Express, on Tuesday, a White Paper was demanded by Opposition Rajya Sabha MPs from the current government on the matter of recovering black money.

"The Panama and Pandora Papers revealed the names of thousands of rich Indians who had parked black money in different tax havens. A White Paper on this issue is demanded from the government. 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.

What kind of response is Opposition planning?

According to ANI, sources have indicated that the Congress is expected to present a "Black Paper" on the Modi government's decade in office in response to the "White Paper."

The presentation of the Black Paper is likely to be conducted by party president Mallikarjun Kharge.

A statement was previously made by former FM P Chidambaram indicating that the Congress would reply to the White Paper as soon as it was introduced in Parliament and that it had no fear of it.

Leader of Congress in Lok Sabha, Adhir Ranjan Chowdhury, stated, "But Mehul Choksi's papers should also be brought to the House," reported ANI. Further, he questioned, " Why are banks looted under their government? What is their relation with those who loot banks and run away abroad?"

RJD MP Manoj Jha stated that "White Paper will turn into a white elephant," while adding, "White paper means you can specify the number of jobs given... Where have you reached? So this isn't a White Paper but a white elephant just before the elections."

Earlier, while speaking to reporters, DMK MP Dayanidhi Maran had mentioned, "The Finance Minister took a long time to hail praises but delivery was zero. They are going to present a White Paper on the previous government... Nothing much has happened in the last 10 years. The people of the country are already disappointed. Moreover, you realize that performance incentives are given to the bridge companies, and not going to the deserving ones. People are rejected with this budget."