CPI warns of 'mass action' against FDI

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Hyderabad, Feb 2 (UNI) Ruling out a mid-term election to the Lok Sabha, Communist Party of India (CPI) eader Gurudas Dasgupta today warned the Centre of a 'mass action' against opening up more sectors to Foreign Direct Investment (FDI) and the proposed price hike of petroleum products.

Speaking at a press conference here, he said CPI would mount pressure within and outside Parliament on the Manmohan Singh Government to withdraw its decision to open up oil and aviation sectors and commodity exchanges to foreign capital. They would carryout a nation-wide ''decisive campaign against ruthless capitalism pursued by the Centre,'' he added.

Maintaining that mid-term poll was ''not the solution'' to the problem, he asserted that his party would fight every bit of anti-people economic policies. Except for communalism, the policies of both the Congress and the BJP were same, he said.

Hike in petroleum product prices would further push up prices of essential commodities, he said, adding that opening up of the domestic economy further to foreign capital had to be viewed in light of an economic crisis in the US.

Allowing large speculation in commodities would further accentuate the prices of essential commodities even as farmers found it hard to get a remunerative price for their produce, he opined.

He demanded an inquiry into the crash in the stock market, after many Foreign Institutional Investors (FIIs) withdrew in collusion with some domestic players, which had put hardships to small investors.

Pressing for hiking the Central Budget to Rs 10,00,000 crore, with more allocation for social sectors including health and education, he wanted Finance Minister P Chidambaram to increase the tax rate for higher income group.

He found fault with Mr Chidambaram for reportedly praising Ambanis and degrading Government Departments, and pointed out that the Minister should take responsibility and initiate steps to improve the performance of Government Departments.


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