News By/Courtesy: Rumella Jain | 18 Oct 2019 0:23am IST


  • CPI(M) rally at Palgarh
  • Yechury attacked demonetisation, GST and other fiscal policies
  • Fervent disagreement with the centre’s rationale behind economic policies


CPI(M) General Secretary Sitaram Yechury, speaking at a recent rally in Maharshtra’s Palgarh district attributed India’s alarming economic slowdown  to the incumbent BJP led NDA’s biased, industrialist-favoring fiscal policies which he went on to term as Modi’s ‘crony capitalism’. This jibe came mainly against the centre’s recent decision to cut corporate tax to fuel investment in the manufacturing sector. While the government termed the slashing of corporate tax as "historic", Yechury showed nothing but fervent disagreement with the centre’s rationale.

"When we needed more money in the hands of the people to stimulate demand, the government has handed it to corporates instead. This is crony capitalism at its worst," Yechury went on to say in his address. "The money snatched from the RBI, 1.76 lakh crore has finally been transferred to corporates by the Modi government, giving them 1.45 lakh crore upfront. This is a scandal," Yechury accused. He further stated how "This will not help DEMAND. Friendly cronies get a bonanza, but no extra money in hands of people. Rural wages have fallen under this government and MNREGA wages are stagnant, new wage code wants to squeeze workers more.”

Yechury also attributed the onus for the ongoing economic slump to demonetization and the GST roll-out. He called out the BJP government for distorting the ideal conception of India when he went on to say "Instead of Netaji Subhash Chandra Bose's slogan of Jai Hind, Prime Minister Narendra Modi's new slogan has become 'Jio Hind.'" This statement came in reference to his speculation about the government’s move to shut state-owned BSNL and MTNL to help industrialist Mukesh Ambani's Reliance Jio. The Left poster boy also went on to state how unemployment in the nation has reached its worst level in the last 50 years.

Attacking the NDA’s basic ideaology, Yechury further stated "The worst aspect of the present regime is that it is dividing people on the basis of religion. Communal tensions, mob lynchings are going on unabated. The Kashmir issue and the NRC (National Register of Citizens) in Assam are its striking examples.”

"If we have to save the country and ourselves, we will have to defeat the BJP-Shiv Sena and elect Left, democratic and secular candidates," Yechury conveyed as his appeal to the Palgarh voter base.



Section Editor: Prithvjjit Mukherjee | 18 Oct 2019 16:07pm IST

Tags : Politics, Maharashtra, Elections, CPI (M), NDA, Yechury, Modi, Economics

Latest News

Copyright Kalyan Krishna MediaZ Private Limited. All rights reserved. Unless otherwise indicated, all materials on these pages are copyrighted by Kalyan Krishna MediaZ Private Limited. All rights reserved. No part of these pages, either text or image may be used for any purpose. By continuing past this page, you agree to our Terms of Service, Cookie Policy, Privacy Policy and Content Policies.