CPIM Himachal terms Economic Survey as inimical to national interest



Shimla: The Himachal Pradesh state committee of the Communist Party of India Marxist has termed the Economic Survey (ES) 2008-09 presented by the Union finance minister as a policy inimical to the national interest. “Similarly, the Railway budget presented shows the pro liberalization direction with public-private participation as the hallmark of the government. Nothing new has come out to the longstanding demands of the people of Himachal whereby expansion of rail network was much awaited,” it has been stated.

The CPIM has stated, though the ES brings out the adverse impact of the global economic crisis. It admits the overall growth rate has fallen to 6.7% in 2008-09. Particularly in agriculture the growth rate has fallen by 3.3% and in manufacturing sector by 5.8%, which indeed is alarming. It has also admitted that the per capita consumption has declined sharply from 6.9% in 2007-08 to 1.4% in 2008-09 reflecting a squeeze in the purchasing power of the people.

But, the CPIM has stated, the prescriptions are once again wedded to the theory of neo liberalism.  The ES suggests opening up of crucial sectors of the economy to FDI and de-regulation of the financial sector in the name of ‘revisiting economic reforms’. This includes FDI in insurance, banking, defence and even in the sensitive retail trade sector which will directly hit crores of families’ livelihoods.
It also proposes to mobilize as much as Rs 25,000 crores per year from sale of PSU shares. In contrast the ES fails to make any assessment, leave along suggest measures to address, the human dimensions of the economic slowdown such as huge job losses, growing unemployment and declining incomes.

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  1. It is no use crying over split milk

    If the Economic crisis under the UPA led to decline in growth rather and reduction in per capital consumption why who is to be blamed. It was CPI(M) who supported Congress led UPA Govt. for 4&1/2 years and should share the blame for the disaster. However, I find it quite intriguing that bad economic performance did not reflect in the elections. Rather the people showed their anger against the Left parties who lost touch of the reality on the ground.

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