Conjuring a catharsis: The Hindu Editorial on the government’s White Paper on the economy
10 months, 1 week ago

Conjuring a catharsis: The Hindu Editorial on the government’s White Paper on the economy

The Hindu  

The Finance Ministry, in a White Paper on the economy placed in Parliament, has accused the Manmohan Singh-led United Progressive Alliance of 2004-2014, of botching the economy. The Ministry has sought credit for the Narendra Modi-led National Democratic Alliance government’s repair and reform job since 2014 for lifting India to the world’s fifth largest economy from one of the ‘Fragile Five’ 10 years ago. It highlights this government’s “economic blunders” such as demonetisation, the flawed GST regime, the unemployment situation with stagnant wage growth, farmers’ distress, and high inflation despite crude oil prices being lower than in the UPA’s times. The government’s assertion that the White Paper will serve as a record for posterity for India’s youth to know the efforts it took to undo the UPA-era damage and “restore India’s glory”, belies its anxiety that the young may not be adequately convinced about recent years’ outcomes. That may explain the curious absence of real GDP growth and employment rates in the UPA and NDA years from the data-laden paper, which even compares waste volumes processed by urban local bodies.

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