Tax cuts: Left says money taken from RBI handed to corporates

They said the government refuses to admit that its ill-conceived policies like demonetisation and GST have cost irreversible damage to the economy.

Published: 21st September 2019 02:58 AM  |   Last Updated: 21st September 2019 09:39 AM   |  A+A-

Left leaders during a national convention on economy on Friday. | (Praveen Negi | EPS)

Left leaders during a national convention on economy on Friday. | (Praveen Negi | EPS)

By Express News Service

NEW DELHI: On a day Finance Minister Nirmala Sitharaman announced corporate tax rate cut to spur growth, Left parties slammed the government saying the Rs 1.76 lakh crore ‘snatched’ from the RBI had been given to corporates.

Referring to the measures announced by the government over the past few days, they said these steps would not help improve livelihoods or revive the economy in the face of alarmingly rising unemployment, layoffs, retrenchment and fall in real incomes of working people.

Demanding increased public investment to generate employment and stopping of privatisation of PSUs, the Left parties held a joint convention on Friday where they decided to organise an ‘All-India Protest against Deepening Economic Crisis and Growing People’s Miseries’ between October 10 and 16.

The Left parties demanded that the Rs 1.76 lakh crore taken from the RBI reserves must be used for public investment programmes to generate jobs and domestic demand.

They said the government refuses to admit that its ill-conceived policies like demonetisation and GST have cost irreversible damage to the economy.

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