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CPI (M) anguished at price rise

The CPI (M) on Saturday expressed its anguish at the government for failing to check price rise.

india Updated: Feb 17, 2007 19:11 IST

The CPI (M) on Saturday expressed its anguish at the government for failing to check price rise.

After the polit bureau meeting, its member Sitaram Yechury told reporters: "The analysis of price rise done by the government itself is faulty. The government is saying inflation is due to increased liquidity that means overheating of the economy. But we have been saying that inflation graph is rising because of hike in prices of essential commodities and huge jump in forward trading," Yechury explained.

Asking government to immediately stop forward and future trading in essential commodities, he warned that the party would be forced to mobilise people to pressurise the government, if that is not done.

On reduction in fuel prices, he said, "Finally, the government has taken some corrective action. This sort of delays are posing unnecessary burden on the people."

Other issues

The party expressed its concerned over spurt in communal activities in certain parts of the country, including eastern UP, Madhya Pradesh and Rajasthan, he said. "The simmering of communal discontent has escalated to sharp communal divisions. BJP and other communal forces are making renewed bids to play the communal card," Yechury said.

On the SEZ debate, he said, his party has been demanding amendment to the SEZ Act in areas like rehabilitation, land use rules, not allowing tax exemption and preferring non-agriculture land for setting UP SEZ. But, the polit bureau will discuss SEZ issue on Sunday, including situation in Nandigram and Singur.

Terming that India's foreign policy was moving in right direction, Yechury wanted the government to keep watch on volatile situation in Iran.

First Published: Feb 17, 2007 19:11 IST