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HomeIndiaThis is what Centre's White Paper says

This is what Centre’s White Paper says

The federal government on Wednesday prolonged the Parliament session by a day to launch a ‘white paper’ highlighting the expansion of India’s financial system from 2014 to 2024

Nirmala Sitharaman. PTI

Finance Minister Nirmala Sitharaman on Thursday tabled the ‘White Paper on the Indian Economy’ within the Lok Sabha.

The federal government on Wednesday prolonged the Parliament session by a day to launch a ‘white paper’ highlighting the expansion of India’s financial system from 2014 to 2024.

Listed below are the important thing takeaways from the White Paper:

  • INFLATION: The doc says between 2009 to 2014, inflation was raging and the interval between Monetary Yr (FY) 10 to FY14 noticed the annual inflation fee attain double digits. In the meantime, between FY04 and FY14, the typical annual inflation within the
    financial system was 8.2 per cent
  • BAD DEBTS IN BANKING SYSTEMS: “The banking crisis was one of the most important and infamous legacies of the UPA government,” the White Paper reads. Evaluating figures between the NDA and UPA governments, the doc says that the Gross Non-Performing Property (GNPA) ratio in Public Sector banks was at 16 per cent throughout the Atal Bihari Vajpayee-led NDA authorities following which it stood at 7.8 per cent. In the meantime, gross advances by public sector banks have been solely `6.6 lakh crore in March 2004. In March 2012, it was 39.0 lakh crore
  • FOREIGN EXCHANGE CRUNCH: The White Paper accuses the UPA-led authorities of damaging overseas alternate reserves. It says that between 2011 and 2013, overseas alternate reserves had declined from round $294 billion to $ 256 billion.
  • PUBLIC FINANCES: The doc alleges that the UPA authorities’s dealing with of the notorious monetary disaster of 2008 was “much worse than the problem itself.” Relating to Public Funds, as an illustration, the paper says that between FY09 and FY14 the ratio of India’s Gross Fiscal Deficit (GFD) to Gross Home Product (GDP) was at the least 4.5 per cent. In the meantime, the income deficit between FY08 and FY09 rose by 4 occasions
  • WASTAGE OF PUBLIC RESOURCES: The White Paper has listed a number of scams that marked the rule of the UPA authorities such because the non-transparent public sale of public sources, the 2G spectrum rip-off, the coal gate rip-off and the Widespread
    Wealth Video games (CWG) rip-off

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