CPI-M slams Nirmala Sitharaman over state of economy, asks people to rise in protest

By: |
Published: September 15, 2019 2:11:00 PM

In a statement, the party said that instead of announcing a big increase in public investment to build much-needed infrastructure, at the same, generate employment and thereby boost domestic demand, the finance minister once again announced measures that in the first place have caused this economic slowdown bordering on recession.

CPI-M, Nirmala Sitharaman, domestic demand, MNREGA, rural India, public investment, finance minister, recession“The Rs 70,000 crore worth of packages announced yesterday, instead should have been put to use in increasing public investment and paying the arrears of the MNREGA which would have boosted the purchasing power in rural India,” the statement said.

The CPI(M) on Sunday criticised Union Finance Minister Nirmala Sitharaman, saying decisions taken by her ministry have resulted in the economic slowdown. In a statement, the party said that instead of announcing a big increase in public investment to build much-needed infrastructure, at the same, generate employment and thereby boost domestic demand, the finance minister once again announced measures that in the first place have caused this economic slowdown bordering on recession.

Also read: Government mulls measures to improve financial health of STC

“The emphasis on targeting private investment in the realty sector and the effort to boost exports cannot succeed. Global trade volumes are shrinking and houses are not being purchased because of sheer lack of purchasing power among the people.  “The Rs 70,000 crore worth of packages announced yesterday, instead should have been put to use in increasing public investment and paying the arrears of the MNREGA which would have boosted the purchasing power in rural India,” the statement said.

It called upon the people to rise in protest against these policies that only favour the maximization of profits at the expense of growing misery for the people.

For latest coverage on Maharashtra Assembly Election 2019 and Haryana Assembly Election 2019, log on to financialexpress.com. We bring you full coverage of Assembly Election 2019 on Financial Express, stay tuned for latest election updates.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.