Monday 24 October 2016

CPI(M) Opposes Govt's FDI Policy

New Delhi

Expressing its strong opposition to government's move to increase FDI cap in insurance sector, the CPI(M) today asked all Opposition parties to join hands in opposing the FDI policy.

"The two-and-a-half months period of the Narendra Modi government has confirmed that it will not only pursue the same neo-liberal policies as the previous UPA government but it will do so more vigorously," the Central Committee of the CPI(M) said in a statement after its three-day meeting here.

Seeking the support of opposition parties, it said the party will extend full support to the struggle to stop the increase of FDI cap from 26 per cent to 49 per cent in the insurance sector.

Criticising the Union Budget and Railway Budget, CPI(M) said these were characterised by a "heightened push for privatisation, greater FDI and more concessions to big business".

"49 per cent FDI in defence production and insurance; FDI in railway infrastructure; greater opportunities for big capital to profit at the expense of public resources through PPP and tax adjustments to benefit foreign institutional investors and the upper classes," the statement said.

Voicing concern over the proposed changes in labour laws by the BJP government, the Left party said these are not in the interests of the workers but of the employers and the capitalists.

"All the trade unions and the Left and democratic parties should jointly oppose this move," it said.

The Central Committee also expressed deep concern over rising number of communal incidents across the country.

The party will take up a political and ideological campaign against the offensive of the Hindutva forces and all forms of communalism and efforts to communalise the education system and text books.

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