CPI-M Attacks Centre On Economic Slowdown, Jobless Growth

Date:

Communist Party of India Marxist (CPI-M) General Secretary Sitaram Yechury.

Imports have gone up whereas industrial production has declined. That means the Modi government is creating more jobs outside India, whereas virtual de-industrialisation is taking place after demonetisation in India, Sitaram Yechury said.

NEW DELHI (IANS) — Attacking the central government on “slowdown in economy and jobless growth”, the CPI-M on Monday accused it of “creating more jobs outside India by focusing on imports” than within the country.

“It is now a well-established fact that the economy is virtually coming to a grinding halt,” Communist Party of India Marxist (CPI-M) General Secretary Sitaram Yechury told reporters after a meeting of its Central Committee here.

“There is a decline in every sector. The services sector, for the first time, is contracting.”

“Imports have gone up whereas industrial production has declined. That means the Modi government is creating more jobs outside India, whereas virtual de-industrialisation is taking place after demonetisation in India,” he said.

Yechury said the Modi government’s ‘acchhe din’ promise was never fulfilled and the people were in fact now demanding return of their ‘bure din’ (bad days).

Taking a dig, Yechury said the Modi government’s ‘acchhe din’ promise was never fulfilled and the people were in fact now demanding return of their ‘bure din’ (bad days).

He said that due to the combined effects of Goods and Services Tax and demonetisation, “a very rapid phase of domestic de-industrialisation has set in the country”.

At the same time, the burden on the people is increasing, Yechury said.

The CPI-M leader said that while the central government was writing off non-productive assets of banks vis-a-vis big corporates, no such relief was available for small farmers unable to repay their loans.

“The Central Committee condemned the NPA write-offs of big corporates totalling more than Rs 2 lakh crore instead of initiation of recovery proceedings. In sharp contrast, when small farmers and those owning small amounts to banks are unable to pay back, their properties are confiscated,” a CPI-M statement said.

theclarionindia
theclarionindiahttps://clarionindia.net
Clarion India - News, Views and Insights about Indian Muslims, Dalits, Minorities, Women and Other Marginalised and Dispossessed Communities.

Share post:

Popular

More like this
Related

‘Pahalgam Incident Deeply Disturbing & Tragic’: Former Pakistan PM Imran Khan

ISLAMABAD -- Former Pakistan Prime Minister Imran Khan on...

Pak Minister Holds Emergency Press Meet, Says India’s Military Action Within 24 to 36 Hours

“We have credible intelligence-based information that India is planning...

400-year-old Mosque on Delhi HC Premises Entangled in Legal Battle

A petition sought the demolition of the historic mosque,...

One Man Mission: Over 1,000 Needy Women Get Bridal Dresses in Kerala

A simple idea becomes a national movement of compassion...