The assertion by Prime Minister Manmohan Singh at Cannes that there should be further deregulation of fuel prices and the policy should be to “allow markets to find their own level” is nothing but the confirmation of the UPA government’s anti-people and pro-rich character.

The petrol pricing was deregulated in June 2010 which has resulted in the continuous increase of petrol price since then. This step has led to fuelling inflation and sharp increase in food prices, burdening the people. The Prime Minister talks about cutting subsidies, but he obviously means only the reduction of subsidies which concern the common people. His government has no compunction about providing subsidies and tax sops for big business and foreign capital.

The Polit Bureau of the CPI(M) strongly opposes these remarks of the Prime Minister which stem from his rightwing neo-liberal approach.