Karnataka

Economy will worsen further under Modi: Yechury

CPI(M) general secretary Sitaram Yechury addressing a media conference in Kalaburagi on Wednesday.

CPI(M) general secretary Sitaram Yechury addressing a media conference in Kalaburagi on Wednesday.   | Photo Credit: Arun Kulkarni

CPI(M) leader says slowdown clearly visible in many forms including joblessness

Terming the emerging economic slowdown as the beginning of a harsh recession, Sitaram Yechury, General Secretary of the Communist Party of India (Marxist), cautioned that the economic condition in the country would further worsen under Prime Minister Narendra Modi.

“The proclaimed GDP growth is at 4.1% at present. As per many national and international economists and agencies, the actual growth is hovering between 2% and 3%. The slowdown is clearly visible in many forms including joblessness. 10 lakh jobs were lost in the auto ancillary industry alone in the last few months. 20 lakh people in the textile industry have joined the army of unemployed. Major Information Technology companies like Infosys are downsizing their workforce,” he said at a press conference in Kalaburagi on Wednesday.

Criticising the Union government for its ‘failure’ to handle the economic slowdown, the communist leader alleged that the measures taken for addressing the issue was expected to further worsen the condition rather than improving it.

“The government announced a package of ₹2.25 lakh crore for helping the corporate giants in the form of tax concessions as a measure to address the economic slowdown. But, it would no way help India come out of the crisis as people’s purchasing power has fallen to a great extent. Instead of offering ₹2.25 lakh crore to big corporate companies, the same amount could have been spent on areas such as infrastructure development that would have resulted in enhancing the people’s purchasing power. But, Mr. Modi cannot do it as it would in no way help increase the wealth of his corporate friends manifold. As per a recently released Oxfam report, India’s richest 1% held more than four times the cumulative wealth held by the bottom 70% of the country’s population,” he said adding that India’s economic condition would worsen in the days to come.

Pointing to Mr. Modi’s remarks at a public rally at Ramlila Maidan in Delhi where he had said that there were no discussions or decisions for the extension of National Register of Citizens (NRC), Mr. Yechury said that he had never seen a Prime Minister who lied as much as Mr. Modi did.

When asked of his party’s future course of action on the Citizenship (Amendment) Act (CAA) and NRC, Mr. Yechury reiterated his call for a civil disobedience movement.

“There is no way but to resort to a peaceful civil disobedience movement. There are millions of Adivasis, nomads, flood victims, Dalits, minorities, displaced people and other poorer sections of people who simply cannot prove their citizenship in the NRC process as they don’t have the required documents. We call upon the people to provide the required information for census and not to provide any information for NPR [National Population Register] and not to furnish any documents for NRC. Home Minister Amit Shah has said that he would not step back from CAA and NRC regardless of any number of protests. Even the British had told Mahatma Gandhi that the country would not get freedom, regardless of the number of agitations. But, they had to bend because of the pressure of people’s movement and free the country,” he said.

Party leaders Maruti Manpade, Sharanabasappa Mamshetty and others were present.

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Printable version | Feb 18, 2020 2:48:47 AM | https://www.thehindu.com/news/national/karnataka/economy-would-worsen-further-under-modi-yechury/article30624958.ece

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