CPI DEMANDS GOVERNMENT TO RECONSIDER
DECISIONS ON FDI

The Communist Party of India deplores and disapproves the decisions of the Central Government to increase FDI cap in telecom, insurance, credit information and asset reconstruction companies and also to consider to increase the FDI cap in defence sector. companies and also to consider to increase the FDI cap in defence sector.This is a disastrous and desperate measure taken by the Congress 

led UPA-II government. The economy is already in bad shape. The value of rupee against dollar has declined to the lowest level. GDP growth rate has declined to less than 5%. Unemployment has increased, making the future of Indian Youth very bleak. Prices of essential commodities have shot up. Oil marketing companies are hiking the prices of diesel and petrol arbitrarily and frequently.   Congress led UPA-II government instead of reviewing its anti-people, neo-liberal policies, is relying upon FDI. After the multi-brand retail trade, now government has decided to open up all sectors including defence a sensitive sector and to increase the FDI cap in very strategic sectors like telecom. The country is yet to overcome the loot and losses due to the 2G spectrum scam. Now the 100% FDI in telecom sector will be disastrous not only in terms of economy but in terms of national security. After the disclosure of US spying into the affairs of other countries including India, it is a matter of serious concern.Therefore the CPI demands the government to withdraw its decisions. It also calls upon the people to resist the government’s moves strongly.