Shimla: Holding the country neo-liberal policies responsible for the country’s falling growth rate, rising fiscal deficit and prices, Communist Party Marxist politburo member Sitaram Yechury said that the CPI(M) historic win in the small civic election to Shimla MC was indicative that people vary of the economic policies pursued by both Congress and BJP were willing to support a credible alternative.
Yechury who was here to participate in CPI(M) candidates Sanjay Chauhan and Tikender Panwar take charge of the MC as mayor and deputy mayor today, a election the party won after dislodging Congress after 26 years said there is anger seething among the people against both BJP and Congress.
Not disclosing the party’s cards for the upcoming general assembly election due later in the year, he said, “it would be pre-mature to do so now.”
Talking about the national economy he said, “the fiscal deficit had touched 6.9 percent or about Rs 521,000 lakh crore but the Manmohan Singh led UPA government’s argument of there not being enough revenues was hollow as it was giving tax incentives to corporate houses worth Rs 528,000 lakh crore.
Besides striking down FDI in retail, BJP had failed not only to oppose policies of UPA government but has not been able to come up with an alternate mode that the left parties have, he said.
He added that economic policies being pursued were not enhancing the purchasing power of the people but the rich were being made richer. Only large public investment would lead to growth.
About the falling rupee, Yechury said that the weakness in the currency was causing a flight in capital as those who could afford it do find investing in dollars safer than holding the Indian currency.
The politburo member said that CPI(M) had planned a 5 day mass dharna before the monsoon session in Delhi that will demand a change in the country’s economic policies.
About the party’s stance over the candidate for the President’s election, he said that a candidate with the widest possible consensus should be picked for the post.
“It is for the ruling party to develop the consensus but a consultation process had not even begun,” he said.
The left leader cautioned the country of falling into the USA led designs whose strategic focus was shifting from the Gulf to South Asia.
An attempt to prop up India against China would be extremely dangerous for the country, something which the leaders should cautious about, he said.