NEW DELHI: Central government, aiming to highlight its achievements before the Lok Sabha elections has published a white paper outlining the financial situation from 2004 to 2014 under the Congress-led UPA government, contrasting it with its own reforms.

Union Finance Minister Nirmala Sitharaman presented the white paper in the Lok Sabha elaborating on the development policies implemented during the Modi government's tenure.

Key allegations

- Inflation, which stood at 3.9 percent in 2004 surged to 9.4 percent by 2014, but has now dropped to less than five percent.

- India was among the five countries with the worst economy but currently ranks among the top five economies globally.

- During the UPA era, scandals like the 2G corruption tarnished the government's image while the NDA government introduced 4G and launched 5G services.

- The UPA-era Commonwealth Games were mired in scandal, whereas the world lauded the G20 summit organized by the NDA government.

- The country faced a foreign exchange crisis and policy paralysis leading to a decline in investment, but now boasts record foreign exchange reserves of $620 billion.

Congress's allegations:

The Congress, led by president Malikarjun Kharge, countered with a black paper accusing the central government of:

- Failing to fulfill promises such as creating two crore jobs annually and doubling farmers' income.

- Allegations of buying 411 opposition MLAs through funds obtained via election bonds.

- Destruction of the public sector.

- Rampant unemployment.

- Inability to control the rise in prices of essential commodities benefiting big businessmen.

The contrasting narratives set the stage for a heated debate ahead of the upcoming elections.