Alarming Levels of Crony Capitalism

Wednesday, February 21, 2018

February 21, 2018


Press Statement


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




The Polit Bureau of the Communist Party of India (Marxist) expresses its grave concern at the alarming rise of levels of crony capitalism under this BJP government and Prime Minister Modi. One after another chosen corporates’ who have defrauded people’s money and manipulated the system are allowed to leave the country before facing the law of the land. The latest in this is the case of Nirav Modi.


The government is refusing to answer how this person was allowed to leave when a FIR was impending against his crime and subsequently to surface along with the Prime Minister for a photograph at the Davos World Economic Summit. This case needs to be probed thoroughly. In the previous instances of financial frauds of Harshad Mehta or Ketan Parikh, Joint Parliamentary Committees were constituted and the then Finance Ministers had deposed before them and put in place corrective measures. In the instant case also a JPC should be constituted and the current Finance Minister must be made to answer all the relevant questions.


Further, the Prime Minister must furnish information on who are the industrialists whose NPAs have been waived to the tune of Rs. two lakh crore, according to the statement made in parliament. The Prime Minister must also provide a list of industrialists accompanying him on his foreign visits at the expense of the State exchequer. Concealing of these names shows the levels to which crony capitalism benefitting chosen individuals close to the ruling party is being practised. This is completely reprehensible and cannot be accepted.


The Polit Bureau of the CPI(M) calls upon all its Party units to organise protest actions on the above demands across the country.