The Communist Party of India (Marxist) or CPI-M has accused the Indian government of privatising key sectors of the economy as a means to stop employment. The party has alleged that the government’s privatisation policy is aimed at benefiting large corporations at the expense of workers and the general public.
“The government’s privatisation policy is simply to stop employment opportunities and deprive the unemployed youths of the country,” CPI-M leader Ratan Das said at a mass gathering in Agartala on Monday. “The privatisation of key sectors like power, telecommunications, and railways will lead to job losses and further economic hardship for the people.”
CPI-M’s comments come in the backdrop of a number of high-profile privatisation efforts by the Indian government:
*In 2017, the government approved the sale of a majority stake in Air India to Tata Sons. *In 2019, the government announced plans to sell off the country’s second-largest state-owned telecom operator, BSNL. *In 2021, the government announced plans to sell off IDBI Bank, one of India’s largest public sector banks.
India’s stateowned telecom operator BSNL, Bharat Sanchar Nigam Ltd
In addition to these major privatisations, the government has also been selling off smaller stakes in a number of state-owned companies.
The CPI-M has been a vocal critic of the government’s privatisation policy, arguing that it is a short-sighted move that will have negative consequences for the economy and the people in the long run.
The party has proposed an alternative model of economic development that is based on state-led investment and social welfare.
The CPI-M’s criticisms of the government’s privatisation policy have been echoed by a number of other opposition parties, as well as trade unions and worker groups.
The government has defended its privatisation policy, arguing that it is necessary to attract investment and boost economic growth.
However, critics argue that the government’s privatisation efforts have not achieved their desired outcomes.
They point to the fact that India’s economy has slowed down in recent years, and that unemployment has remained high.