Against Yashwant Sinha's Declaration At Davos

Tuesday, February 1, 2000

Press Statement

The Polit Bureau of the Communist Party of India (Marxist) has issued the following statement:

The Finance Minister Yashwant Sinha's declaration at the World Economic Forum in Davos regarding the content and direction of the forthcoming budget is an affront to India's self-respect. Even before the budget has been placed before the Parliament and the Indian people, the Finance Minister, prostrating before foreign capital, has declared the present Vajpayee government's intentions to "push ahead" with abolishing all controls on foreign investment in India. According to reports, barring defence, the Vajpayee government has announced its intention to free foreign investment from all controls in all other areas.

Such a statement by the Finance Minister is tantamount to declaring the BJP-led government's intentions to throw open our country and its economic assets to the loot of foreign capital and multinational corporations.

The Vajpayee government should realise that notwithstanding their propaganda of an orchestrated consensus on economic reforms, the people of our country will not tolerate such brazen mortgaging of India's economic sovereignty. The recent series of strikes by the working class culminating in the nationwide public sector strike slated for tomorrow reflects the popular consensus of the Indian people against such a sell out by the present Vajpayee government.