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What is White Paper in economy? Types and main purpose | Explained

The Modi government is likely to bring a White Paper on the economic mismanagement done during the United Progressive Alliance (UPA) government. The document may be presented by Finance Minister Nirmala Sitharaman on Saturday.

Shashwat Bhandari Written By: Shashwat Bhandari @ShashBhandari New Delhi Updated on: February 07, 2024 19:12 IST
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Image Source : INDIA TV Representational image

A White Paper is a report, guide, research-based paper or formal government document that presents expert analysis about a topic or solution to a problem, policy proposals, often bound in white covers. They have been used historically to introduce new policies or legislation and gauge public reaction to government initiatives, its schemes or policies.

Types of White Paper

There are three types of white paper including Economic White Paper, Budget White Paper, Policy White Paper.

Economic White Paper

It contains an analysis on the current state of the economy and talks about challenges, opportunities it faces. The paper also contains government’s plans and strategies to address the issues.

Budget White Paper

A Budget White Paper contains governments budgetary priorities, spending scheme, revenue sources, fiscal projections among other issues.

Policy White Paper

A Policy White Paper talks about a specific policy, scheme or program of the government to address a particular issue or problem in the economy.

What is the use of White Paper?

The purpose of a white paper in economy is to inform public, Parliament, stakeholders about a government's policy, its vision, goals, plans, actions being taken to sageguard the economic interests of the country.

The document can also be used as a tool for consultation and feedback, as it invites comments and suggestions from various parties on the proposed policies or programs.

A white paper can also influence the public opinion and shape the political debate on economic issues.

Modi govt to bring White Paper on UPA's economic mismanagement

The Modi government is likely to bring a White Paper on the economic mismanagement of the UPA government during the Budget session of the Parliament which has been extended by a day till February 10 (Saturday).

The White Paper will elaborate on India's economic misery and its negative impacts on the economy through the White Paper on Economic Mismanagement during the UPA Government. It will also talk about the impact of positive steps that can be taken at that time, sources said.

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