The Polit Bureau of the CPI(M) strongly opposes the decision of the Union Cabinet to allow 100 per cent FDI in coal mining for all commercial purposes along with 100 per cent FDI in contract manufacturing.
In a situation where burdens on the people are being relentlessly mounted, the Central Committee of the CPI(M) has called on the Party units to observe nationwide protest action focusing on price rise and growing unemployment from July 11 to 17, 2016.
That in a nutshell is sabka saath, sabka vikas – carrots for businessmen and sticks for the toiling masses.
The decision of the Modi government to allow 100 per cent FDI in e-commerce retail is an outright surrender to the interests of big foreign e-commerce retail firms.
The Central Committee finalized the Draft Report on Organisation to be sent to all State Committees. The Central Committee will meet on December 26 and finalise the report to be presented to the Plenum beginning December 27, 2015 at Kolkata. Massive preparations through state wide jathas and mass contact programmes are underway in West Bengal to make this plenum a big success.
The Polit Bureau of the CPI(M) strongly condemns the announcement by the Prime Minister easing the regulations for Foreign Direct Investments in our country. 15 areas, including single brand retail, banking, construction, media, airlines, defence, banking, plantations etc., are to be opened up for approval under the automatic route.
The Central Committee called upon the entire Party to conduct a campaign on the following issues: (i) against FDI in railways, insurance and defence production; (ii) against disinvestment in public sector shares; and (iii) against dilution of labour laws.....The party will take up a political and ideological campaign against the offensive of the Hindutva forces and all forms of communalism and the efforts to communalise the education system and text books.
During the nearly two months of the Narendra Modi government, it has become clear that the government will adopt policies for the benefit of big business and international finance capital. The direction of the Union Budget for 2014-15 is to provide concessions to the corporates and the upper classes at the expense of the poorer sections. It is a trajectory for significant privatization of the economy through large-scale sale of public sector shares and greater reliance on public-private partnership. The fiscal deficit will be reined in only by expenditure cuts and squeezing the people further.
Consequent to the harmful decision to allow 51 per cent FDI in multi-brand retail, the government has diluted even the limited norms set out for foreign retail investment. Under the pressure of the United States, the requirement of 30 per cent sourcing from domestic small and medium industries, the requirement for back up investment and the condition that FDI in retail be allowed in cities of over 10 lakh population have been eased.
This bankrupt policy of the government is motivated by the need to attract more foreign capital flows to meet the widening current account deficit. But the supine attitude of the government to foreign capital is only going to lead to further flow of profits and resources out of the country.