Tags:
Journalism of Courage
The CPI(M) today said the Left parties were not consulted regarding the proposal to raise the cap on Foreign Direct Investment (FDI), adding that the party continues to oppose the move.
“In the first Budget of the UPA government, they had announced the policy of increasing the FDI cap in insurance and we had opposed at that time. Our stand remains the same,” CPI (M) general secretary Prakash Karat said. He was talking to reporters at a function organised to release a biography of EMS Namboodiripad written by P Govinda Pillai.
The key Left party has been campaigning against the Government’s proposal to bring a new Insurance Bill to raise the FDI cap in the sector from 26 per cent to 49 per cent.
Karat sought to know as to why the financial sector was being thrown open to foreign capital in such a big way.
“We don’t want the financial sectors to be taken over by foreign finance capital,” he said, giving the prime reason behind the Left opposition.
Regarding the inflation rate touching a two-year high, Karat said the government should immediately curb the forward and future trading on agricultural commodities besides slashing the prices of petroleum products.
Fest tries to rope in regional writers.
