Finance Minister Nirmala Sitharaman has done something that was not done in the last 70 years. A white paper has been brought to the Parliament which looks at the economic history of the UPA government from 2004 to 2014. What was done, what was not done, what were the mistakes, it looks at it and tries to show how well the BJP government has done from 2014 to 2024.... All mistakes of 10 years UPA how they were corrected This has never happened in our political history That government track record of 10 years is presented in Parliament. How long will you be able to see the political and economic performance of any government? 5, 10 or 15, 25 years? Many people don't understand this. But if you look at the government of BJP and Congress, then in the last 30 years, the economic and political history of our country is equal to that of Congress and BJP , that is, 30 years On one side Modi- Vajpayee governments and Congress on other side both parties will have to take credit or blame, BJP and Congress. And this is what we need to explain in today's episode. Nirmala Sitharaman says that she has done this work because she wants posterity. Meaning, future generations should remember what UPA did to our economy. Modi government and Nirmala Sitharaman say that they have saved India from collapse. Our economy was about to collapse soon after 2014. They saved it... And that is why they could not do what was promised So, is this an excuse or an economic-political point? Let's first understand the main points of this white paper. Congress has also brought a black paper against it. What do they have to say? Are there some things that Congress and BJP don't want to talk about? It is important to talk economics, not only politics. We will also find out who wins and who loses in this paper war. And why there are some things in our country that need to be bipartisan That is, Congress and BJP, in some things, especially in the matter of economics, should sit together and work together. Then it can benefit us. Let's start with what this white paper says. The biggest accusation is that the UPA government did not bring reforms. It inherited a healthy economy from the Vajpayee government. But the UPA government did not reform it. It turned it into a non-performing economy in 10 years. How? Mismanagement. After 2008 economic crash, the government wants to do high rate of growth ... show high GDP figures. Due to which the government is unable to stop high inflation, high fiscal deficit. The government keeps on borrowing money. High proportion of bad loans. All the loan money being defaulted is from UPA and Manmohan Singh govt. Poor capital expenditure management. Not only borrowed, but did not use the funds rightly Capital expenditure, which is used to create say infrastructure it was nearly halved from 31% of GDP in 2004 to 16% in 2014 Government did not do any capital intensive projects. As a result, there was no industrial growth so mistake is of UPA government Everyone knows how defense preparedness was hampered You were doing scams everywhere. In 2012, shortage of combat ready equipment. We had to purchase all these things in emergency. Non-transparent auction of public resources. You went to sell coal, telecom spectrum, but you got scams. Retrospective taxation. Foreign companies said, we don't want to do business here, so we are running away. And finally, inflation. The inflation that our government has inherited, was your doing. You have failed to launch the welfare schemes like toilet construction, opening new banks. We did it. Lots of politics, but these are the basic points. As I said, there is a lot of political game going on. Congress understands this That is why In a few hours, Congress President Mallikarjun Kharge presented his black paper... 10 years of injustice. 10 saal, anyay kaal - 10 years of injustice Congress has depicted unemployment, the faulty implementation of GST, job cuts, farmer distress, corporate favoritism, crime against women All these issues raised ... now Congress is asking what BJP did in 10 years Now Congress is bringing a report on 10 years From 1 crore unemployed in 2012, to 4 crore unemployed in 2022 10 lakhs sanctioned central government posts which are still unfulfilled Why is it that the unemployment rate is 33% in graduates and post graduates? Congress Party is asking who will answer this question The interesting thing is that in BJP's white paper, when we searched, we did not find the word unemployment.... Whereas, the government's own periodic labour force survey......showed that unemployment was at a 45-year high before the pandemic After that, the survey was shut down. The second question of the Congress black paper......is about domestic inflation. In our UPA, especially the latter half of the UPA... So, crude oil was priced at $110-$115 per barrel. Now in your time, crude price was 84 and then $46 in 2016 The government diverted the money to its capital expenditure. But, we had to pay Rs.100 for petrol. So, the prices of essential commodities were high Next allegation by Congress... Modi government policies are to benefit large corporate friends - tax cuts, loan write off, favorable contracts but small and medium businesses are struggling ... GST and compliances are so complicated that small businesses are suffering The big businessmen, the big rich people, the friends are absolutely fine. There is a serious allegation on that and this is a try to take all the regional allies with it. Arunachal Pradesh, Goa, Karnataka, Madhya Pradesh, Maharashtra and Manipur ... the way governments dissolved there The government has been using money power ... party economy is doing well You have switched MLAs with big money You are destroying democracy with your private economy. Since 2014, there have been 5 fold jump in ED cases. ED is used for financial reason but it is being used for political reasons. 95% of the politicians raided are from opposition These are some of the open letters of Congress. But, as a great man said, there is a limit to hypocrisy. Now lets look at congress' hypocrisy In UPA part 2, when Pranab Mukherjee was Finance Minister, how much economy was ruined... Who started this phone banking? Who brought retrospective taxes? Who did policy paralysis? Pranab Mukherjee. But will Congress ever talk about his role? No. Will Congress admit that their media communication was so bad that they could not celebrate or communicate their achievements? Will Congress admit that the failure of Congress Party was undeniably a result of mega corruption cases? If you bring out Coalgate, 2G and CWG, people will run away from Congress Have they ever regretted it? Have they ever said that they will take corrective action? Look at the hypocrisy of BJP. You have been in power for 10 years. Next 5 years is almost set. Still blaming Nehru, Congress and Manmohan Singh You won't tell that the GDP numbers of 2004-05 and 2011-12 were revised by the Modi government. So that your own numbers look good. How was this retrospective revision right? And aggregate data shows that GDP growth was still better in UPA time Here there was covid crisis, there it was 2008 financial meltdown Modi promised 2 crore jobs every year. Farmers will get MSP. He also said that farmers' income will double. Will PM talk about these things? Or will there be new guarantees? Why isn't it mentioned on the White Paper? Why no mention of demonetization in the White Paper? It was a big masterstroke. Why no step from 2011 to measure poverty? Why 80 crore people are sitting on food ration? When will we get 15 lakh rupees How much money did we get from Swiss bank account? Did petrol and diesel prices go down? Did dollar become cheaper? Why is our capital income not increasing? Why are we competing with Bangladesh? If you go to do paper war like this, then both parties will have a lot of ammunition. Because our country is huge and our economy is very complicated. If you limit it to one party doing a good job and one doing a bad job, then it will not end. That is why we say on Deshbhakt that as far as the country is concerned, as far as the economy is concerned, it is built on each other's work. That is why a bipartisan approach is needed. The company will see that the country's policy has been consistent for 15-20 years. And then it will invest a few billion dollars to open a factory. Let me give you a simple example of how BJP and Congress, are two sides of the same coin, Mahatma Gandhi Rural Employment Guarantee Scheme. Congress Party had inaugurated it with a lot of enthusiasm. Well, it was a very revolutionary scheme. They were giving employment, saving people from starvation in rural areas. The scheme was mocked in the parliament I will give you the link below. You can watch the recording how Narendra Modi mocked it But he had political sense to keep funding the scheme. When people fled to their villages during covid, this scheme kept them alive. This has led to a funding of 86,000 crores in this scheme 2. National Food Security Act UPA launched a big scheme of subsidized food grain to two third population. Modi government understood the power of this scheme. So, this is also a budgetary provision. Today, people are being given food grain for free. It is happening through this scheme which was introduced by UPA, now extended for 5 more years 80 crore people are being given food ration. Such a big welfare scheme is going on. And if you say its cost, it is more than 2 trillion rupees. Built on the back of the scheme that came during UPA. Another scheme, which we believe to be Modi's scheme, but when Narendra Modi came to power and Manmohan Singh was leaving, then 50 crore Aadhaar cards were already in our country. And at that time, Aadhaar was being used for bank accounts, for subsidy, access to credit, transparency, so that there is no leakage on welfare schemes. The Modi government understood this. It understood the importance of Aadhaar. It understood what Nandan Nilekani has done. And the digital stack of our country, UPI, KYC, subsidy, welfare schemes, direct benefit transfer,
it was made a basis of Aadhaar. And then it was made compulsory. Of course, there are many issues in it, which we also highlight. There are privacy issues, scams, compulsory linking is also there in many places, like with Fastag But Aadhaar is revolutionary... It is not like Aadhaar, as many people think, that before 2014 we used to light a fire using flint stones, live in caves. And the country was free only after 2014. But why this politics then? There is a reason why this white paper has been brought. It will not be discussed not only in the parliament but will be spread across the country as per a political program. The political reason for this is also clear. You will say, what is the need for this? Modi is coming. But by how much Modi will win, that is the question If you talk about identity politics, votes are sealed there - Ram mandir. If you talk about national security, votes are sealed - surgical strike, Pakistan. China issue has not stuck. And maybe opposition has failed. There is only one issue that people might think of voting for someone else And Congress is trying to harp on that one issue. I don't know how successful it is. And that is unemployment, inflation, income inequality. States are not getting their share. So, if BJP brings 300 seats, and many people are assuming that 300 is a very easy thing... but not easy considering 10 year anti incumbency Narendra Modi has said their aim is 370-400 Narendra Modi has said it will be a tenure for big decisions For that, 370 to 400 is needed and that is the aim BJP is already showing that they have strong, able, decisive leadership. They are becoming the world economic power. But, the problem is that, and perhaps, Modi government is so clever and intelligent, that they don't want to repeat the mistake of Vajpayee. when Vajpayee said, India is shining, everything is good, everything is fine, but people were upset with the fact that, we don't even have two grains to eat. And today, they are trying to show that,
if we are not able to double the farmer's income, if we are not able to increase your per capita income, if your economic situation is not that good, it is because we have such a bad economic situation. The UPA had given us barren land, now we are making it fertile. How can we give money to the states on time? We were coming out of such a big crisis. The country was in a crisis. So, if someone asks a question, what happened to the farmer income, you can say that it will take some time. This is a political move. Let me give you the final proof. In 2015-16, the Prime Minister said in an interview that he was under pressure to bring a white paper. But he didn't do it because investors would have been scared and would have run away. But when he brought this white paper a few weeks before the elections, he should have known that FDI investment into India is the lowest in 16 years. We have gone so far back in 16 years, as far as FDI investment has been concerned. What happened to Make in India? What happened to ease of doing business? our treaty moves are not right. We are arguing with other countries. Brain drain is at its highest. Unicorns are collapsing. Make in India is just a few brands. Nobody is doing anything else. Moving to Vietnam, Laos, Cambodia ... and India Inc's profit growth is at its slowest in 14 quarters. This is a petty issue. Economy is not a statue that one party makes and other ruins. It is the economy of the country. if there is a debate on this, it is a good thing. At least, instead of us vs them, debate is on economy. And I would like to take this thing positively. What did Nirmala Sitharaman say? She said that now we have stabilized the economy. Now we have taken the path of recovery and growth. Then we are going and telling people that look, we have overcome so many big challenges. If Nirmala Sitharaman is fixed on this, then bring white paper and defame UPA But promise that you won't go for Nehru and Manmohan Singh. You are admitting that they have ruined it, we have fixed it. Now Modi will come. So, in the next 5 years, can we talk only about economy? Or again, Us vs. them, and talk of danger ... that is worth a thought
