Amid the ongoing Budget Session of Parliament, Union Finance Minister Nirmala Sitharman on Thursday laid a ‘White Paper’ on Indian Economy in the Lok Sabha. It said that when the BJP-led authorities got here to energy in 2014, the financial system was in a fragile state, public funds have been in dangerous form, there was financial mismanagement and monetary indiscipline, and there was widespread corruption. The White Paper additionally listed out a collection of corruption achieved throughout the reign of the UPA i.e. from 2024-2014.
According to the White Paper, corruption infiltrated quite a few authorities operations, spanning from procurement processes to the allocation of treasured pure sources and regulatory approvals. Even procurements essential for nationwide safety have been discovered to be tainted by corruption, it said. The prevalence of scandals and corruption instances has considerably eroded public belief and confidence. Providing an replace on the standing of a number of outstanding instances, the White Paper painted a sobering image of the state of governance throughout the UPA regime.
Scams listed out in the White Paper:
Coal Block Allocation: This monetary scandal concerned irregularities and corruption in the allocation of coal blocks by the federal government to non-public firms for captive use, resulting in an estimated loss of `1.86 lakh crore to the exchequer, as estimated by the CAG31. This got here to mild in 2012. The Supreme Court cancelled 204 such allocations. Final Reports have been filed in the Courts in 47 Cases, and 10 instances are below investigation.
Commonwealth Games: The occasion was marred by widespread corruption, mismanagement, and monetary irregularities in the planning and execution of varied tasks associated to the video games. Charge sheets have been filed in 8 instances that are below trial in the courts of Delhi.
2G Telecom: This concerned a loss of about `1.76 lakh crore of potential income to the federal government, as estimated by the CAG (on the charges paid for 3G spectrum). The corruption instances are in the appellate court docket.
Saradha Chit Fund: This was a Ponzi scheme with the diversion of funds for private use, and luring traders with the promise of excessive returns. The rip-off unfolded in 2013 when the group collapsed, leaving tens of millions of traders in monetary misery.
INX Media Case: This case concerned cash laundering and irregularities in overseas funding approval for funding right into a media firm. It is below trial.
Aircel-Maxis: The case concerned allegations of Irregularities in the approval of overseas funding in a telecom firm, and unlawful gratification. The case is below trial.
Antrix-Devas Deal: Irregularities and corruption in a satellite tv for pc deal between Antrix Corporation, the industrial arm of the Indian Space Research Organisation (ISRO), and Devas Multimedia Pvt. Ltd, and irregularities in the allocation of scarce S-band spectrum and wrongful positive factors to Devas Multimedia are the important thing parts of this case. The Supreme Court has confirmed the discovering of fraud. A cost sheet for the prison offence has been filed.
Land for Jobs: The case entails acquiring pecuniary benefits in the shape of switch to land or property in lieu of appointments of substitutes in Group ‘D’ in totally different zones of Railways. Investigation is underway.
Allotment/Release of Prime Land in Panchkula and Gurgaon: These are a number of instances referring to the discharge of prime land from acquisition in connivance with the personal builders and allotment of industrial land to shut associates. After investigation, cost sheets have been filed in trial courts.
J-Okay Cricket Association: The case entails the misappropriation of almost `44 crores by opening “bogus” financial institution accounts. After investigation, a cost sheet was filed.
The Embraer Deal: The case is expounded to corruption, bribery and kickbacks in the acquisition of plane from the Brazilian aerospace firm Embraer. After investigation, a cost sheet was filed, and the case is pending in trial court docket.
Pilatus Basic Trainer Aircraft: The case entails corruption in the procurement of 75 Pilatus fundamental coach plane for the Indian Air Force in 2009.
Hawk Aircraft Purchase: The case entails cost of bribery to unknown officers of the Ministry of Defence, throughout the interval 2003 to 2012, in the procurement of Hawk Aircraft from M/s Rolls Royce plc, UK. The case is below investigation.
Adarsh Housing Society Scam: This case concerned irregularities in the allotment of residences in a defence land undertaking. It is on the trial stage.
Augusta Westland Helicopter Scam: Kickbacks have been paid in the procurement of helicopters.
Objectives of ‘White Paper’
It seeks to apprise the Members of the Parliament and the folks of India, of the character and extent of governance, and financial and monetary crises that have been bequeathed on this authorities when it assumed workplace in 2014. It additionally informs the Members of the Parliament and the general public concerning the insurance policies and measures that our authorities took to revive the well being of the financial system and make it vigorous and succesful of fulfilling the expansion aspirations of the folks in the current and in the Amrit Kaal. In doing so, it hopes to generate a wider, extra knowledgeable debate on the paramountcy of nationwide curiosity and monetary accountability in issues of governance over political expediency.
