CPI(M) assails claims on investment deals from PM’s visits

Tuesday, May 26, 2015,20:29 IST By metrovaartha A A A

Chennai | Seeking to pick holes in BJP’s claims that Prime Minister Narendra Modi’s foreign visits would fetch new investments from abroad, CPI(M) today said actual investments that come from MoUs signed never crossed more than 10 per cent.
You see we already had very bad experience from the number of MoUs signed and actual investments coming. It has never crossed more than 10 per cent…never, CPI(M) General Secretary Sitaram Yechury told reporters here in reply to a question.
So what will come out of all these agreements that the Prime Minister claims to have had, we have to wait and see and nothing normally comes out of that, he added.
Claiming that we have lost a lot, he cited the Rafale defence deal and said I think more has gone out of India than what has come in and that is not going to lead us to any better economic growth.
To another query related to investments and economic growth claimed by the Centre, he said the BJP’s investment logic itself was seriously flawed.
Every investment produces something, what is produced has to be sold and profits have to be made and economy has to grow, he said and argued that there was no market for such produce.Where is the market? he said.
People’s purchasing power has fallen domestically and exports had fallen by more than one third, he alleged.
So if you cannot sell products that is produced by new investments, how will there be any employment generation or growth… it cannot work.
Hitting out at BJP for abolition of wealth tax, cut in direct and corporate taxes, rise in indirect tax, he said the only way our economy can grow is when the government stops giving this huge tax concesion to rich.
Just collect your taxes and invest that to build infrastructure and then that investment will generate huge new employments and when they start spending salaries, the demand will grow and manufacturing will get impetus.
Attacking the BJP government, he said there is a three-in-one attack on Indian people, which is on economic policies through communalism and authoritarian trend.
On marks for the saffron party which has completed a year in office at the Centre, he said I can only mark those people who sit for exam, this government has not sat for any exam so far and so we cannot really (give) marks.
Over Prime Minister Narendra Modi’s claim that he worked hard, Yechury said it was meaningless if that meant burden for the people. You can work overtime but if the net result meant greater burden for people, what is the meaning of claiming that I am working overtime? he said.
To a query seeking his reaction to RSS reminding the BJP of the Ram Temple issue on the party’s first anniversary, he said I think the Prime Minister has answered by choosing Mathura as his meeting venue. Yechury said Modi was trying to convey that it was not only Ayodhya but he also has Mathura and he contested polls from Kashi… and so all the three spots (are) on their radar and that spells disaster for all of us.
Asked about reports of a West Bengal policeman tying the shoelace of a minister, he said, you are welcome to draw your conclusions and the question is human dignity and human security in Bengal has reached its nadir. Alleging that Kolkata has become the ‘rape capital of India,’ he said that is the tragedy and speak volumes for quality of governance in Bengal today.
On electoral alliances in Tamil Nadu, especially in the context of next year’s Assembly elections, he said the state committee of the party was competent to deal with it. Our focus is on developing our independent strength, and building mass movements on issues confronting the people.
About party’s internal factionalism, especially in the context of Kerala, he said, when you said it is internal it is internal… don’t worry. To a query on Kerala’s top CPI(M) leader V S Achuthanandan challenging the party leadership, he said when the time comes, appropriate decision will be taken.
Asked for his reaction to the tug of war between Kejriwal and the Union government, he said,let us see what happens… it should have been resolved through consultations.

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