At the time when the country is wrestling with the stock market crash and the rising onion prices, the CPI(M) Monday lashed out at the BJP-led government, blaming it for weakening the “fundamentals” of the Indian economy and working against the interests of the poor and the middle class.
Addressing a press conference here, CPI(M) general secretary Sitaram Yechury criticised Finance Minister Arun Jaitley for explaining the Sensex crash as an offshoot of the global economic turbulence, saying: “The foreign hand excuse is unacceptable.”
He said it is difficult to fathom with the government’s low confidence in dealing with the current turbulence. He compared China’s massive stock market crash at 9 per cent with India’s (which was at 2 per cent), saying the plunge taken by the Sensex is relatively smaller than China. Against this backdrop, he said the government still seemed ill-equipped to tackle the situation. “There is lack of focus in the government,” Mr. Yechury said.
