Stop Mortgaging The Economy!

The politburo of the communist party of India has issued the following statement on July 17. The UPA government is out to mortgage the economy to foreign capital. The raising of the FDI cap in certain sectors and allowing FDI through the automatic route in some others are desperate measures being adopted by the government faced with mounting economic difficulties. The CPI-CM has opposed to 100% FDI in the telecom section i.e., the decision to allow foreign control on the vital defence production sector. This bankrupt policy of the government is motivated by the need
to attract more foreign capital flows to meet the widening current amount deficit. But the supine attitude of the government to foreign capital is only going to lead the further flow of profits and
resources out of the country. Already the government has given up the claim on the capital gains taxes which the Vodafone has to pay the government proposing to dilute the norms for investment in multi brand retail which is going to adversely affect domestic industry. The proposal to increase FDI in the insurance sector has to be adopted through legislation in the parliament. The CPI-CM and other opposition parties should thwart this move in the parliament. The politburo demands that the government should not proceed with these FDI proposals.

K. M. Razeena of V - B