The White Paper on the Indian Economy, which the Narendra Modi administration introduced in Parliament on Thursday, serves as a mirror for Manmohan Singh, the economist who became prime minister, and highlights the corruption and fiscal mismanagement that characterized his 10-year UPA rule. It is essentially an authentic charge against the leader who was once credited with starting India’s economic reforms, highlighting how the nation’s economy lost momentum as a result of political meddling and the banking crisis. It describes how India went from being one of the fragile five economies to the fifth largest in the world by contrasting the first ten years of the Modi government (2014–24) with the 2004–24 UPA regime headed by Manmohan Singh.
If the COVID-19 pandemic hadn’t caused unparalleled worldwide destruction, perhaps the milestone could have been reached sooner. The documents, which were tabled on the day that Manmohan Singh announced his retirement from public life after a decade in the Rajya Sabha, strengthened the case made by the BJP during the UPA government that there should be a single center of power, as there is under the Modi government, rather than two as there were under the Manmohan Singh administration, with UPA Chairperson Sonia Gandhi holding all political sway.
The report also emphasizes the drawbacks of the minority government, which is torn apart by alliance partners with diametrically opposed goals, disregarding the nation and its downward spiral. The document serves as evidence that Bharat can only be administered by a powerful majority government at its center, as regional party alliances are unable to provide both administrative and economic support. The Manmohan regime’s numerous scams and fiscal mismanagement were a byproduct of political meddling, which pulled the government in all directions, with the primary goals being the government’s survival rather than economic advancement.
The White Paper, while factual and accurate, has a political bent as well because it was submitted just before the 2024 general elections, putting the Congress in power. The main rival of the BJP and its former allies in the UPA is in the dock because they will be held accountable for their economic mismanagement and corruption during the campaign. Additionally, the document gives NDA candidates ready-made ammunition to throw at their opponents in the upcoming elections by promising a developed India through Modiomics by 2047. As the opposition parties scramble to find ways to undermine the Modi administration, the latter is genuinely promising to fulfill the aspirations of the young for a powerful, progressive, and inclusive India.
The paper is more than just an account of economic history, it also symbolizes the Modi government’s determination to push forward in the face of adversity, set lofty objectives, and meet them on time. It also demonstrates the PM’s resolve to hold those responsible for corruption accountable at all costs and the Modi administration’s intolerance for it.
