Modi-Led Govt Brought Indian Economy Back On Track Over Last Decade, Says FM Sitharaman

Finance Minister Nirmala Sitharaman said on Saturday that the Indian economy suffered mismanagement during the 2004-14 period by the Congress-led UPA government. 

Addressing the Rajya Sabha during a discussion on the ‘White Paper on Indian Economy’, the Union Finance Minister said that the Congress party ‘mastered the art of ruining accomplishments of the previous government as they did while managing inflation during the 10- year UPA regime’, reported PTI. 

Sitharaman also lauded the Narendra Modi-led government and said that they worked hard for the last decade to bring the Indian economy ‘back on track, taking India from Fragile Five to 5th largest economy’ globally. 

The minister pointed out that India would become the third largest economy globally soon. She noted that inflation rate remained below the level of 4 per cent during the last year of Atal Bihari Vajpayee-led government, however, the figure became much higher during the 10-year government led by the UPA.

Taking her attack on the Congress party one step further, the finance minister said that while the former’s government did manage to complete projects in time, however, PM Modi maintained a personal supervision over development projects, keeping in touch with even district- level officers to monitor progress. 

Explaining the rationale behind the White Paper now, the minister said releasing the document earlier ‘would have impacted the confidence of institutions, investors, as well as the people. As an elected government, she said it is imperative to inform the public and Parliament about the true picture of the economy during the UPA regime and efforts taken by the Modi government to revive the economy.’

< p>Sitharaman also stressed several initiatives undertaken by the Modi government to help bring the Indian economy ‘back on track’. She added that the unemployment rate for graduates also improved to 13.4 per cent in 2023, down from 17.3 per cent in 2017.

Also Read : Sovereign Gold Bond 2023-24 Series IV Opens On Monday, Check Issue Price And Details Here