Modi’s FDI, reforms cost the poor: Karat

 CPM Politburo member and former national secretary, Prakash Karath today lashed out at the Centre for collapsing national economy in the name of reforms. Karath alleged that the NDA led Narendra Modi Government is giving top priority to the corporate sector and FDIs at the cost of poor and their welfare.

      Participating in  a memorial lecture to mark the 24^th death anniversary of CPM leader Makineni Basava Punnaiah here, he alleged that the NDA Government was totally  offering  the national resources to foreign investors. The CPM Leader criticized the Centre for allotting Rs 62,000 crore for corporate sector in the country and cut to size the subsidies meant for the poor. Prakash Karath took serious exception to the  Prime Minister Narendra Modi  opening the doors wide for foreign direct investments. In the name of reforms, the Modi Government is pruning the poor subsidies which is not correct,  he remarked. ‘We are not averse to the reforms which are key for the



development, however it should not be  at the cost of the  poor and their welfare, he asserted. The CPM will wage a fight against such issues at national level, which would  be   paying real tributes to Basava Punnaiah who fought for the cause of the poor and welfare of the working class,  he observed. Karath also stated that the CPM will go together with other like minded parties against the government’s dictatorial attitude of supporting the corporate sector and uprooting the national economy for FDIs. ‘We will not keep quiet if undemocratic reforms were introduced,  and continue our fight’ Prakash Karat vowed.

       Another Politburo member of the party,  BV Raghavulu,  after releasing a book,  said that the Modi Government is giving priority to corporate sector at the cost of welfare of the poor. If the Centre continues to welcome FDIs in all sectors what could be the fate of our economy,  he sought to know. Raghavulu also expressed concern that Andhra Pradesh Chief Minister N Chandrababu Naidu  was  not addressing the problems of the people. Naidu is indulging in poaching the legislators from other parties spending crores of rupees,  he alleged.