Selling ‘family silver’ to meet daily expenditures does not makes economic sense, says Sitaram Yechury

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September 27, 2019 1:32 PM

"Having driven the economy into the ground, selling 'family silver' to meet daily expenditures by Modi govt makes neither economic sense nor is it common sense: more jobs will be lost and large scale retrenchment will compound public misery," Yechury said, referring to the government's move to privatise Public Sector Undertakings (PSU).

Sitaram Yechury, PSU, privatise PSU, CPI(M), Donald Trump, Finance Commission, modi government, latest news on sitaram yechuryHe also alleged that while Modi was busy campaigning for US President Donald Trump, he was also “dismantling” India’s Constitutional order.

Taking a dig at the government over its plans to privatise PSUs, CPI(M) general secretary Sitaram Yechury on Friday said after driving the economy into the ground, selling ‘family silver’ to meet expenditures neither makes economic nor common sense. He also alleged that while Modi was busy campaigning for US President Donald Trump, he was also “dismantling” India’s Constitutional order.

“Having driven the economy into the ground, selling ‘family silver’ to meet daily expenditures by Modi govt makes neither economic sense nor is it common sense: more jobs will be lost and large scale retrenchment will compound public misery,” Yechury said, referring to the government’s move to privatise Public Sector Undertakings (PSU).

Also read: Nirmala Sitharaman to meet key ministries today; will review capital expenditure so far in FY20

Yechury also tagged a news report that said that the central government, in its memorandum to the Fifteenth Finance Commission (15th FC), has sought a substantial decrease in devolution to states from the existing 42 per cent of the divisible tax pool.

“Cooperative federalism is a nice phrase but when this govt’s actions are the opposite of what it claims, we know what it really wants. Tax people, states unfairly, don’t share resources, stifle the economy and then blame fairies for the mess,” Yechury tweeted tagging the report.

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