Full convertibility of rupee and other such policy decisions will be against the interests of the poor

Capitalism is in deep crisis in all parts of the work and efforts were being made to face this adverse condition everywhere including India, said Communist Party of India (Marxist) State Secretary B. Raghavalu has said.

Speaking to the party workers at a meeting late last night, Mr. Raghavalu opined that the party workers should get prepared for a prolonged fight against the capitalism and it was unfortunate that a policy that had failed even in Arab countries was being implemented at fast pace in India.

FDI

Inviting foreign direct investment into the country was nothing but axing out own branch of development and economy, he said and added that FDI was being sought to be brought in immediate in Banking and Insurance sectors in India, which would lead to all Indian businesses perishing.

In the name of Food Security Bill food is being sought to be distanced from the poor and the fertilizer and pesticide prices would be determined by the private players in the future with Government losing control over it fully. Full convertibility of rupee and other such policy decisions would be against the interests of the poor and the Government unable to catch the guilty and punish the people responsible for the 2G scam through which it was defrauded to the extent of Rs.1.76 lakh crores, it was giving scope for more corruption.

The party State Secretary has asked the party leaders and workers to get ready for a strong resistance to the proposed Rs.5,000 crore on power tariff and another Rs.3,000 on surcharge and organise dharnas or agitations. Party City secretary Ch. Babu Rao and district secretary Raghu were also present at the party meeting.

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