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CPI(M) slams Finance Minister Nirmala Sitharaman over state of economy

Finance Minister Nirmala Sitharaman.

Finance Minister Nirmala Sitharaman.   | Photo Credit: V. Sudershan

Party urges people to rise in protest

The CPI(M) on September 15 criticised Union Finance Minister Nirmala Sitharaman, saying decisions taken by her Ministry had resulted in the economic slowdown.

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

“The emphasis on targeting private investment in the realty sector and the effort to boost exports cannot succeed. Global trade volumes were shrinking and houses were not being purchased because of sheer lack of purchasing power among the people,” the party said in the statement.

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

“The ₹70,000 crore worth of packages announced yesterday [on Saturday] 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.

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Printable version | Apr 9, 2020 5:12:46 PM | https://www.thehindu.com/news/national/cpim-slams-finance-minister-nirmala-sitharaman-over-state-of-economy/article29424540.ece

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