To believe or not to believe

 

Hi all! We have completed the full detailed analysis of the White paper and the Black Paper. Before you read this I would request you to read both the analysis which would help you to understand the economics of both governments.

https://indpolcan.blogspot.com/2024/03/the-black-paper.html - BLACK PAPER

https://indpolcan.blogspot.com/2024/02/the-white-paper-part-1.html-WHITE PAPER-1

https://indpolcan.blogspot.com/2024/02/the-white-paper-part-2.html-WHITE PAPER-2

Now who is lying to us and who is telling the truth. It's tough to find that. But the real question to be asked is -

• Is the white paper highlighting BJP's faults?
• Is the black paper highlighting Congress's faults?

DID THE BJP REALLY SAVE THE ECONOMY?

This government has been in power for 10 years and whether you like it or not it's going to return for the next five years.

Q1.Why the  GDP numbers of 2004-2005 and 2011-2012 were revised? How was this retrospective revision right?

Q2.However aggregate data still shows that the GDP growth was better in the UPA time. We can accept the post-pandemic period, but what about the pre-pandemic period(2018-2019)

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  Q3:PM Modi guaranteed that he would produce 2 crore jobs every year. The BJP promised that farmers' income would be doubled in 2022. But that never happened. Will PM Modi talk about these things? Well, right now he's busy giving new guarantees.

Q4: One more thing, I didn't find the word "Demonetization" which was called a "masterstroke" in 2016  in the white paper. If the BJP was confident in its move why wouldn't it even mention it while it's proven by facts  Demonetization turned out to be disastrous.

Q5: The BJP bashed the Congress for inflation but did it control inflation in 2022-23 as the price of petrol and diesel are skyrocketing?

Q6: The BJP accused the UPA of the sliding of the rupee value against the dollar and it promised to bring down the value but it worsened the condition.

When the opposition asked the same question, our Finance Minister Nirmala Sitharaman had this to say:

Q7: We are proud of our GDP growth, but what about our per capita income? Why are we competing with countries like Bangladesh?

 There is no significant increase in the per capita income.

WAS CONGRESS PERFORMING BETTER?

Q1: Why was the GNPA high during the Congress regime? It could have been controlled if the government had been a bit active.

Q2: We do appreciate them cleverly overcoming the 2008 financial crisis, but what gave them the confidence to give high-interest rates which eventually led to the bleeding of FOREX reserves? 

Q3: In 2011 -12 when Pranab Mukherjee was the finance minister, he started the phone banking (which was like the preview of UPI) system which led to businessmen escaping from the Income tax raid. Why wasn't it regulated? This virtually ruined the economy.

Q4: When Inflation hit hard in 2012-13 the then Finance Minister P Chidambaram had this to say:

 

Did PM Manmohan Singh even attempt to control inflation?

Q5: Why did the UPA spend too much on the revenue expenditure knowing there is no revenue in return to the government? They could have spent it on capital expenditure by building infrastructure.

This spending eventually led to policy paralysis which didn't allow the government to function properly.

Q6: Why was there a huge political interference in the government? It never looked like Manmohan Singh had control over his own government

Q7: Finally did the UPA government try to defend its corruption allegations,  did it work on its communication strategies? Did it expel all the people who were accused of various scams?

All the points here are discussed in detail in the white paper with graphs and other charts. Do check it out. The question is not about who is correct or who is wrong? The real question is...

SO SHOULD THE POLITICAL PARTIES ONLY FIGHT BY BLAMING THE OTHERS?

Both the government and the opposition are deviating from the topic.

Let me give you an example of how the BJP and the Congress are two sides of the same coin.

Mahatma Gandhi National Employment Guarantee Scheme which was inaugurated in 2005 by the Congress government. It was a revolutionary scheme as it guaranteed 100  days of employment in rural areas.

When Narendra Modi came to power, he mocked this scheme in the parliament. Here is the recording link

https://www.youtube.com/watch?v=5nBRKUf6AAo

But still, the BJP government funded the scheme. When people fled to their villages during COVID this scheme kept them alive.

When the Modi government brought in a Digital payment system, the Congress mocked it. P. Chidambaram even said that UPI won't work with the MSME sector 

https://www.youtube.com/watch?v=aCnv8gwN0ug

But now, to boost the MSME sector in Karnataka, the Congress government is asking the vendors to shift to digital payment.

SOLUTION

Well, this blog not only highlights the problem, it is also just an attempt to solve it.

Instead of fighting over each other both the government and the opposition should make sure that they must make a bipartisan decision (agreed by both the parties).

Let me give you a simple example of where Congress and the BJP worked together for the sake of the economy.

When the Indian economy was in shambles in 1991, the government under PM Narasimha Rao(Congress) liberalized the economy(which is a separate topic to be discussed) which saved our economy.

Remember the Rao government was a minority government. What I mean is the opposition had the power to topple the government but they didn't do it.

The leader of the Opposition Atal Bihari Vajpayee(BJP) openly supported the government on this issue.

If our economy is in a stable state today we have to thank the liberalization steps that were taken in 1991.

BJP and Congress may have their ideological differences but when it comes to economy or national security or foreign policy both of them must be on the same side.

It is important to appreciate the government when they do something good, but we have to criticize the government equally when it goes wrong. The same goes for the opposition.

I hope the series of the white paper and the black paper has given you enough knowledge of the Indian Economy.

And if you are interested to know about the history of liberalization (1991) please do comment on it by writing #1991. I will make a blog on that issue.

Do comment your opinion too. And please follow our page for more interesting blogs.

Until then

Peace out!!✌✌