New financial policy dangerous to the nation: CPM

Representatives convention begins in Chikkaballapur

Global recession has led to lakhs of people losing jobs. Equal number of farmers have been committing suicide. Multinational companies are strengthening their grip, affecting financial system of the country, said S Ramachandran Pillai.

He was speaking, in Chikkaballapur on Monday, after inaugurating the convention of CPM party representatives conducted as part of the 20th State level convention of the party.

Attempts at monopoly

“Multinational companies are trying to create monopoly, which will affect the domestic and small scale industries in the country,” he said.

“Two decades have witnessed a sea change in the financial, social and political system of the country. Domestic industries were forced to close because of the anti people policies of Congress and BJP led governments. Problems galored for people dependent on small scale industries. The farming community was unable to withstand the storm in the agriculture centre,” he lamented.

“The America with its capitalist system aiming to control the world, has now caste its eyes on India. The US which attacked Iraq and Afghanistan in the guise of war against terror is also trying to hit financial stability of India. This is the main reason American companies are showing interest in investing money here. America is trying to have control over our nation,” he added.

“Left parties have under the leadership of CPM have fought continuously against liberalisation, privatisation and globalisation policies. We will not compromise on this for any reason. People will be made aware of the political, social and financial system on the country. We will strengthen and spread our struggle against these policies,” Pillai said.

Struggle and movement

“Undivided Kolar district including Chikkaballapur had been home to several struggles of public importance. Vidurashwattha in Gauribidanur has witnessed freedom struggle whereas various movements were carried out in Bagepalli and Chintamani taluks. The districts occupy important place in the country in animal husbandry and silk production,” said G V Sriramareddy, president of the Reception Committee, speaking about the greatness of the region.

Politburo member K Varadarajan, CPM leaders G N Nagaraj, V J K Nayar, Nityanandaswamy, G C Baiyareddy, Maruthi Manpade, K Shriyan, K Neela, K Shankar, B Madhav, Prasanna Kumar, S Y Gurushanth and others were present.