Worst economic crisis in 50 years, say Left parties

Our Bureau New Delhi | Updated on October 16, 2019 Published on October 16, 2019

CPI general secretary D Raja   -  The Hindu

CPI (M) leader Sitaram Yechury   -  Sushil Kumar Verma

Govt working for billionaires, alleges Sitaram Yechury

A one-week nationwide protests by the Left parties against “deepening economic crisis and worsening miseries” of people culminated here on Wednesday. Addressing a rally, CPI(M) general secretary Sitaram Yechury said the situation is so bad that the country has not witnessed such a situation in the last 50 years.

Yechury said until the purchasing power of the common people is not improved, investments will not come to the country. He urged the Centre to invest in public infrastructure-building so that the unemployed youth get employment.

“But this government works for billionaires. The Centre waived off the loans of wealthy people, but the hard earned of people are not safe in banks,” he said.

Yechury said the slowdown is a direct result of the negative policies of the Centre. “Measures such as demonetisation and faulty implementation of GST have adversely affected the economy. Our economy was already reeling under increasing unemployment, price rise, retrenchment and livelihood issues. Modi government has been ignoring the high rate of unemployment, contract system, low wages and agrarian crisis. This has put huge burdens on the vast working sections of the country,” Yechury said.

Benefit for corporates

The leader said corporates are getting benefited in the name of combating economic slowdown. “The Modi Government is using pseudo nationalism and polarisation to divert the attention from the basic economic issues,” he added.

More agitations

The Left threatened massive agitations against the Centre if it does not address livelihood issues of the people. “We are opposed to the economic policies of the Narendra Modi Government. Economy is in shambles,” said CPI general secretary D Raja.

“Loot of public sector is taking place in the name of disinvestment and privatisation. Farmers’ problems have worsened. Unemployment has reached highest levels. But Modi Government is contemplating awarding Bharat Ratna to VD Savarkar,” Raja said.

Published on October 16, 2019
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