Opinion View from the LEFT

“It shows that in the aftermath of an average crisis asset prices fall sharply,real housing prices fall on an average by 36 per cent over six years,equity prices by 56 per cent over three and a half years. Unemployment tends to rise by seven percentage points during the down phase of the cycle,which on average lasts four years. Government debt increases by 86 per cent. GDP falls by over 9 per cent on the average,and typically takes ten years to return to what it was before the crisis. This is the history of an ‘average’ crisis. What we are witnessing is much worse than an average crisis. Under these circumstances,it would be naive to exude confidence of a visible turn-around in the global economy”,it says.

It also attacks the prime minister and the Planning Commission and states that their optimism about a turnaround could well be a “case of gross overestimation of the Indian economy”. The editorial is also critical of the government’s policy of giving concessions to corporate houses. Referring to the budget papers it says that as much as Rs 4.18 lakh crore was foregone as tax collection last year as a result of various tax concessions and this year it would reach Rs 4.28 lakh crore. “This is being done under the presumption that with greater availability of capital,the corporate world would expand its activities and thus stimulate the economy. There is a fundamental flaw in this reasoning. No amount of availability of capital can stimulate the economy unless there are people who have purchasing power to consume what is produced”,it says.

Solidarity now

In an article about the five day strike by Jet Airways pilots,CITU leader M.K. Pandhe calls upon trade union units in the civil aviation industry to unite and form a “common organisation”. “In many countries in the world there is a common organisation from pilots to unskilled workers. However in the public sector,we have category-wise organisations which is reducing the bargaining power of the employees with the management”,he points out. Pandhe sets aside the argument that pilots should not be allowed to form unions as they are highly paid and claims there is an urgent need that civil aviation employees of all categories form a common industry-wise union.

Pointing out that Jet pilots had approached the CITU,Pandhe assures all help to the pilots and cautions the registrar of trade unions against any attempt to de-recognise the union. “The Jet management is trying to get the NAG de-registered by manipulating the registrar of trade unions office by resorting to flimsy objections..The trade union movement in India will oppose any attempt on the part of registrar of trade unions,Mumbai to help the Jet Airways management in their vile designs”,Pandhe states.

Foreign hand in Bengal

In an article,the party charges that their opponents in West Bengal were being funded by foreign countries. “The forces of reaction in Bengal had a supply of money and intelligence from foreign sources. The murders of CPM cadres must be the ‘utilisation certificate’ that the terrorists would submit to their foreign bosses to ‘account for’ the funds”,writes B. Prasant quoting state secretary Biman Basu.

The article also seeks to downplay the Left’s defeat in the Siliguri Municipal Corporation,using vote percentages: “The elections to the municipal corporation saw the Left Front win 17 seats with a vote percentage of 46.13 per cent. The anti-LF alliance of Trinamul and Pradesh Congress won 30 seats with a vote percentage of 47.14 per cent”,it states without making any further analysis.

Curated For You

India Women vs Sri Lanka Women 4th T20I Updates: IND win 4th T20I by 30 runs

‘I’m your daughter’s age’: Haryanavi artist stops performance to address fans’ behaviour, video sparks debate

Bengaluru newlyweds cut short honeymoon in Sri Lanka, die by suicide 1,000 km apart