Budget Session 2024: Union Parliamentary Affairs Minister Pralhad Joshi has announced the extension of Parliament’s budget session by a day, continuing until Saturday. This development coincides with speculation about the Narendra Modi government presenting a ‘white paper’ on the economy, focusing on the previous Congress-led United Progressive Alliance (UPA) government’s alleged economic mismanagement.
Extension of Parliament’s Budget Session; Government Plans ‘White Paper’ on Economic Management
As per ANI reports, the Centre is set to unveil a ‘white paper’ addressing what it terms as ‘economic mismanagement’ during the Manmohan Singh government. Sources indicate that the document will not only critique the past administration but will also discuss potential ‘positive steps’ that could have been taken during that period.
Finance Minister Nirmala Sitharaman had previously outlined the government’s intention to present a ‘white paper,’ emphasizing the perceived loss of a “glorious 10 years” and citing the impact of mismanagement during the UPA regime. During a recent TV interview, she highlighted the need to address policy paralysis and the moral implications of decisions made during that era.
In his address to the Lok Sabha, Prime Minister Narendra Modi asserted confidence that, based on the current economic trajectory and India’s rapid progress, the country would become the world’s third-largest economy in his government’s third term. He contrasted this vision with the Congress’s earlier projection in the 2014 interim budget, where it was suggested that India would achieve this status by 2044, taking three decades. Modi’s guarantee underscores the optimism about India’s economic future under his leadership.