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Sitharaman said the UPA regime s reckless fiscal policy, ill-targeted subsidies and wasteful expenditure were guided by the desire for political gain. She said the inflation rate had been below 4% in the last year of the Atal Bihari Vajpayee government (2003-4), but it remained significantly high during the 10-year UPA regime that followed. The finance minister said the Congress party had mastered the art of ruining the accomplishments of the previous government, as they did while managing inflation.
A new book by seasoned journalist Amar Devulapalli has detailed how Sonia Gandhi messed up in Andhra Pradesh and pushed Y.S. Jagan Mohan Reddy the state's incumbent Chief Minister to sever ties with the Congress and form his own party, .
Initiating the debate on the White paper on Indian economy and its impact on the lives of people of India , Sitharaman said it was Prime Minister Narendra Modi who put the nation first, pulling the country out of crisis and placing it among the top five economies of the world. India is now on the way to becoming the third-largest economy, she said, adding that the NDA government will make India a developed nation (Viksit Bharat) by 2047.
PM Modi highlighted the increasing trust and positive sentiment towards India in international forums, such as Davos. He mentioned that a virtuous cycle has begun in India, with economic growth rising, fiscal deficit shrinking, exports increasing, and poverty decreasing. "New Bharat will work at superspeed - this is Modi s guarantee," he said.