The Polit Bureau of the Communist Party of India (Marxist) met in New Delhi on December 9 & 10, 2017. It has issued the following statement:
Central Government Must Provide Adequate Relief
Cyclone Ockhi has caused immense damage in the states of Kerala and Tamilnadu. In Kerala over a hundred people have been reported as dead and nearly a hundred are still missing. Thousands of houses, mechanised and country boats of fishermen have been damaged. In Tamilnadu thirty people have been reported killed while over a thousand are missing There has been largescale damage to houses, crops and property.
Given the fact that there are a large number of people still missing, the central government should ensure the continuation of the search and rescue operations in sea by the navy, air force and coast guard for some more days. It is also pertinent that the National Disaster Management Authority should be revamped to ensure that warnings are conveyed to the concerned states in time.
The Kerala State government has requested the central government to declare cyclone Ockhi as a calamity of severe nature and provide an immediate assistance of Rs. 1843 crores.
Hate Crime Condemned
The Polit Bureau of the CPI(M) strongly condemns the brutal killing of a migrant labourer Mohd. Affrazul in Rajsamand, Rajasthan. Affrazul comes from the state of West Bengal. The Polit Bureau demands that the alleged killer identified as Shambulal Regar must be severely punished in accordance with the law.
The atmosphere created by the politics of hate and the Hindutva Brigade continues to rampage across the country attacking Muslim minorities and dalits. The patronage provided by the BJP governments both at the Centre and in the states are actually encouraging and protecting such hate crimes. The killers of Akhlaq have been given jobs in the public sector NTPC. BJP MPs hail such killers. The culprits named by Pehlu Khan in his dying declaration have all been set scot free. The victims of attacks are being booked under the law while the culprits roam around freely with impunity.
The CPI(M) Polit Bureau reiterates its demand that this BJP Central Government headed by Prime Minister Narendra Modi must by legislation ban such private armies of gau rakshaks and ‘moral policing’ spreading havoc across the country.
It is clear that this Modi government is rushing through the Financial Resolution and Deposit Insurance Bill in the coming Winter session of parliament. This is a blatant attack on crores of common depositors who save their life long earnings in bank deposits. This only helps the banks and the financial institutions to recoup their health at the expense of the depositors. While these banks have given humongous loans to the corporates which are not being returned, the consequent loss to the banks is sought to be made up through savings of crores of depositors.
This Bill falls in line with the recommendations of international finance capital which prescribes that in order to prevent any future global financial meltdown like that one happened in 2008 banks and financial institutions must ensure a process of “bail in” rather than “bail out”. The huge bail out packages given by various governments to banks and financial institutions to over come the global crisis of 2008 converted corporate insolvencies into sovereign insolvencies. This has crated a new crisis for global capitalism and this continues to plague the global economy.
In case a bank reaches a state of collapse this FRDI will have the power amongst others to exercise any one of the three measures to protect the bank. These are – sale to any other financial firm, including foreign corporates; the incorporation of a bridge institution (merger of banks as is currently being proposed by this BJP central government) or initiating a ‘bail in’ process.
If this comes into effect as law then the RBI’s mandate would shift from supervision, regulation and monetary policy to ensuring financial stability in the country. This would mean in fact that the interests of the ordinary depositors in the banks would be sacrificed in favour of protecting, both, the banks facing collapse and the corporates who have heavily borrowed from the banks.
The power to ensure that a failing bank can be recapitalized with depositors money and material without the depositors consent. There is no guarantee for protecting the depositors money.
The CPI(M) will oppose this legislation in parliament in the current form and will seek the support of all other parties to do the same in the interests of tens of crores of our people whose life long savings are jeopardised.
Preparations for 22nd Party Congress
The Polit Bureau finalised the schedule of state conferences and the central leaders who will be attending. 25 state committees will have their conferences in the run up to the 22nd Congress to be held at Hyderabad from April 18 to 22, 2018.
The Polit Bureau discussed the Draft Political Report for the 22nd Congress. These discussions will now be placed for the Central Committee’s consideration at its forthcoming meeting from January 19 to 21, 2018 at Kolkata.