‘Economic epidemic paralysing India’

HYDERABAD: The country’s economy is on the brink of a disaster and the people are at the door of a dismal future, senior CPI leader Gurudas Dasgupta has said. Speaking to reporters here

Published: 04th January 2012 03:06 AM  |   Last Updated: 16th May 2012 06:08 PM   |  A+A-

HYDERABAD: The country’s economy is on the brink of a disaster and the people are at the door of a dismal future, senior CPI leader Gurudas Dasgupta has said.

Speaking to reporters here on Tuesday, Dasgupta said the country’s economy had slowed down, industrial production retarded and inflation is rising higher. “This contradictory situation rarely happens,’’ he said and termed it an ‘economic epidemic’.

“Rupee is losing its value against dollar and the country is facing a serious deficit of foreign exchange reserves. Despite this, the recent session of Parliament was dominated by Lokpal and Anna Hazare.  Parliament had no time to discuss the serious economic crisis,’’ he said and urged the Centre to convene a three-day exclusive session of Parliament to discuss and find out a way to the economic crisis.

Alleging that individual foreign investors were allowed to invest in in the stock market, he cautioned that they would make windfall profits and disappear. ``The Indian stock market has lost confidence and instead of allowing foreign investments in the stock market, the Centre should encourage local investments.

The central government should invest huge money on infrastructure, power and other key sectors to create more jobs, improve the income levels of  individuals, reduce poverty and infuse confidence in stock market  investors.’’

Dasgupta said the general strike called by all the trade unions of the country on February 27 was against the economic crisis. “This government is paralysed, ineffective and tainted. It has no head to think. No eyes to see. No heart to respond to grievances,” he remarked.

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