The 'Neo-liberal' economic policy of the Congress Led UPA government would only destroy public sector units and widen the gap between the have's and have nots,according to CPI(M) politburo member Sitaram Yechury. Addressing the 9th state level conference of Bank Employees Federation of India in Theni,he said the Centre was now trying to push forward economic reforms like privatising public sector units and new pension policies,which they could not do in the past when Left parties supported them. "We compelled them to implement the National Rural Employment Guarantee Programme and revive loan waiver scheme," he said. Stating that the Congress and the Trinamool Congress had joined hands to defeat the Left parties in West Bengal,he said they would given a fitting answer at the proper time. Alleging that India has lost 50 lakh jobs due to the global economic recession,he said the centre's bailout packages only helped big companies. Likewise,a tax holiday had been granted for corporates involved in gas exploration as also other concessions to corporates,totalling Rs 1.24 lakh crore. "If this legitimate tax was collected,it could have been used for infrastructure development," he said. He also came down heavily on India signing the End Use Monitoring Agreement,saying it would affect national security as it allows US to inspect defence establishments in the country. He wondered whether India would henceforth be able to maintain secrecy in defence matters,since the US could even pass them on to Pakistan,both of whom have long standing ties with each other.
