Communist Party of India(Marxist) general secretary Prakash Karat on Monday expressed concern over the open loot of minerals in the country.

The Centre's faulty mining policy was helping companies accumulate huge capital. Citing the case of an Andhra Pradesh-based company which had since announced plans to establish a steel plant, Mr. Karat said growth of capitalism through mindless exploitation of the mineral wealth had been rampant during the past six decades.

The CPI(M) leader was releasing the Oriya translation of Karl Marx's Das Kapital Volume-I at a function organised by the Lokshikshya Pratisthan here.

Karl Marx had written about the exploitation of mineral resources and growth of capitalism way back in 1867. The book had given a new direction to the labour movement across the world, Mr. Karat said.

He thanked Lambodar Nayak, who translated Das Kapital into Oriya. He expressed satisfaction that the Oriya translation of the second volume of the three-part book was already in progress.

Economist Prabhat Patnaik said the growth of capitalism resulted in an increase in the number of the poor and in inequality, while a few were accumulating wealth by the day.

CPI(M) Orissa secretary Janardan Pati and senior party leader and former MP Sivaji Patnaik spoke.

More In: National | News