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Set right economic policies, Left tells Centre
CPI (M) at Manmohan's throat again.
BY OUR POLITICAL CORRESPONDENT
October 5, 2006
The Left, as ever before, is proving to be the UPA government’s greatest foe. This came to the fore yet again on Thursday as the CPI(M) voiced protests over the Manmohan team’s financial sector policies.
The CPI (M) has even threatened protests against what it called the UPA government’s preoccupation with making profits. It also demanded a shift in the direction of the government's economic policies and stood by its opposition to financial sector reforms, including any move towards full capital account convertibility and increase in FDI cap in insurance and the amendments to pension and banking regulation bills.
The prominent party in the Left family said it will continue to mount pressure in the Parliament and outside through mass mobilizations so that the promises made in the common minimum programme are implemented. In an editorial in the latest issue of party organ People’s Democracy, CPI(M) leader Sitaram Yechury said that the UPA government has to be forced to change its views regarding the economic policies and move towards fulfilling promises made in the CMP.
Sitaram Yechury pointed out that India's ruling coalition led by the Congress party at the Centre will have to work hard to see the economic scenario change for the better. The targets of spending six per cent of the GDP on education from the current two-three per cent and three per cent of the GDP on public health from the current 0.9 per cent is indeed a tough job.
He also called for a marked increase in spending for rural development and employment generation projects in India. These areas, which should focus on people’s welfare at present boasts of a paltry 2.75 per cent of India's GDP. This has to go up, he added.
The statements made by Yechury attain significance considering the fact that this follows the Left-UPA coordination meet held just hours ago. Calling for improvement in gross tax revenues he said, there is a scope for further increasing revenues so that the required public investment can be undertaken. However, the UPA mindset on economic reforms should change if that is to happen.
He also decried the incidence of farmers’ suicides and called for a more effective policy towards prevent such untoward deaths. The Left leader also called for major policy shifts in the Indian food sector saying that security can itself come under severe jeopardy.
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