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White Paper on Indian Economy
February 16 , 2024
80 days
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- The Union Finance Minister presented a “White Paper” on the Indian economy in the Lok Sabha.
- It was prepared by the Ministry of Finance.
- It compares the economic performance of 10 years of the Congress-led UPA govt with that of 10 years of the NDA govt.
- It seeks to inform every one of the nature and extent of governance, economic and fiscal crises that the NDA government had when it assumed office in 2014.
- It informs about the policies and measures that the (NDA) government took to restore the health of the economy since 2014.
- It has three main parts.
- First discusses the macroeconomic situation during the 10 years of UPA rule.
- Second provides the current status of the various corruption scams of the UPA government.
- Third part shows how the NDA turned the economy around.
- The Capital expenditure as a percent of total expenditure (excluding interest payments) was halved from 31% in FY04 to 16% in FY14 (this ratio stands at 28% in the current year).
- Forex reserves were just enough to finance a little over 6 months of imports in 2013, down from 17 months in end-March 2004.
- As of January 2024, Forex reserves were sufficient for 10.6 months of imports.
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