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Left to continue support to UPA: Bardhan

Written by: Staff

Aurangabad, Maharashtra, Mar 6 (UNI) The Left parties, despite their opposition on certain issues, continue to support the Congress-led United Progressive Alliance (UPA) government at the Centre as no alternative is emerging, CPI General Secretary A B Bardhan today.

Talking to reporters on the sidelubes of the party's State Council meeting here, Mr Bardhan said India's decision to sign the Nuclear agreement with the United States during the visit of President George Bush, despite strong opposition by the Left, would prove wrong in the future.

He, however, claimed that the Left parties have succeeded in creating awareness among the people on these issues by opposing the government through massive demonstrations.

Criticising the ongoing rally in the stock market and its linkage with the economic growth in India by the financial experts as well as the ministers, Mr Bardhan said the continued rise in the sensex was a sign of danger, adding that it was nothing but a bubble which may burst any time as happened in the UK sometime back.

He further said that the present speculative rally in the stock market was confined to the 30-stocks even as over 1,600 companies were listed on the stock exchange. It showed that only a few capitalists were involved in the rise of the market, which had nothing to do with the rise in production or development.

The veteran CPI leader said the sensex was not the index of economic growth of the country. It was merely an indicator of the speculation of the stocks.

He also expressed serious concern over the investment in stock market by small and medium investors who, according to him, had been investing whatever little amount they had with them.


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