High Fiscal Deficit, CAD, Double-Digit Inflation Before 2014: Govt Compares UPA Vs NDA In White Paper On Economy
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The 'White Paper on the Indian Economy' compares the economic performance of the UPA government and the NDA government. The UPA government had a high fiscal deficit, a high current account deficit, a mountain of bad loans in the banking sector, and double-digit inflation for five years. The UPA government also demonstrated that it is easier to hurt the economy than it is to help it. In contrast, the NDA government under PM Modi has restored the vitality of the economy. The Modi government strategically addressed the root cause of high inflation and made efforts to control the high external sector vulnerability. The NDA government managed the current account prudently and increased forex reserves from $303 billion in March 2014 to $617 billion in January 2024. The Modi government also transformed India's fiscal system to restore public finances to good health. The UPA government failed to facilitate economic activities and exploited the fast economic growth for narrow political purposes without much concern for long-term economic consequences.

#IndianEconomy #UpaGovernment #NdaGovernment #WhitePaper #FiscalDeficit #Cad #Inflation

https://www.news18.com/business/high-fiscal-deficit-cad-double-digit-inflation-before-2014-govt-compares-upa-vs-nda-in-white-paper-on-economy-8771512.html