The Communist Party of India (Marxist) has promised a new food security law, regulation of the pricing regime for petroleum and a revised foreign policy in its election manifesto released here on Thursday.

Blaming the policies of the United Progressive Alliance (UPA) government for the “unrelenting” price rise, the CPI(M) said the country needed to be rescued from the politics and policies of both the Congress and the BJP.

CPI(M) general secretary Prakash Karat said the new food security law should provide for a universal public distribution system (excluding only income taxpayers), with a provision for a minimum of 35 kg foodgrains for a family or 7 kg foodgrains per individual, whichever was higher, at Rs. 2 a kg.

To curb price rise, the party suggested reversing the deregulated regime of pricing of petroleum products and reducing excise and customs duties on petroleum products, besides banning futures trading in agricultural commodities and enlarging the resource base by taxing the rich and corporate profits, and imposing higher taxes on luxury goods.

The party favoured an independent and non-aligned policy, promoting multi-polarity and strengthening the Brazil, Russia, India, China, and South Africa (BRICS) and India, Brazil South Africa (IBSA) blocs.

More In: National | News