• search

Left to oppose FDI hike in insurance sector

Written by: Staff

Kozhikode, Apr 24: The Left would strongly oppose any move to hike Foreign Direct Investment (FDI) in the insurance sector, CPI(M) general secretary Prakash Karat said today.

Addressing a meet-the-press programme here, he said the proposed move to enhance FDI in the sector from 26 per cent to 49 per cent announced by Prime Minister Manmohan Singh at Hannover in Germany yesterday was dangerous to the country as it would render thousands of people jobless.

Mr Karat said the Left partries as a whole would resist strongly any move to amend the Insurance Regulatory Act in Parliament, paving the way for inviting more multi-national companies to the country.

Accusing the UPA government of 'acting at the finger tips' of the Bush administration on Iran nuke issue, he said the US had a role to persuade Dr Manmohan Singh to toe their line.

He said Congress leaders had a responsibility to tell the people why they had deviated from the decades-old Non-Alignment policy pursued by successive governments in the country.

Reiterating that the Left would review its stand on support to the UPA government, Mr Karat said 'we will see whether they will adhere to the Common Minimum Programme of governance or go as per the dictates of the Bush administration.' A decision would be taken after state Assembly elections, Mr Karat said.

On the poll scenario, he said the Left Front was poised to win the election in West Bengal with a thumping majority, taking Communist rule in the state to a record third decade. In Kerala too the CPI(M)-led LDF had a clear over the rival UDF if the trends were any indication, he said, adding, it was a clear endorsement of the pro-people policies adopted by the combine.

Criticising UDF leaders for their claim of providing development during their five-year term, he said altogether 504 peasants had committed suicide in Wayanad district alone during the period.

'Is it development?' leaving the agrarian sector in crisis and forcing farmers to take the extreme step, he asked.


For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more