The Politburo of the Communist Party of India (Marxist) has said the Finance Minister’s Recipe Will only aggravate economic slowdown. Instead of announcing a big increase in public investment to build our much-needed infrastructure, at the same, generate employment and thereby boost domestic demand, the Finance Minister has once again announced measures that in the first place have caused this economic slowdown bordering on recession. The emphasis on targeting private investment in the realty sector and the effort to boost exports cannot succeed. Global trade volumes are shrinking and houses are not being purchased because of sheer lack of purchasing power among the people. The Rs. 70,000 crore worth of packages announced instead should have been put to use in increasing public investment and paying the arrears of the MNREGA which would have boosted the purchasing power in rural India. The Politburo of the CPI(M) calls upon the people to rise in protest against these policies that only favour the maximization of profits at the expense of growing misery for the people.
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