Left parties hold protest rally, hit out at govt over economic crisis

NEW DELHI: The Left parties on Wednesday held a protest rally at Jantar Mantar and blamed the government for the current state of economic crisis and unemployment in the country, saying its "negative policies" has affected the economy.

Left leaders like CPI(M) general secretary Sitaram Yechury, Secretary, AIPWA, Kavita Krishnan and CPI general secretary D Raja along with the party workers led the protest and marched towards the Parliament street police station, where barricades were placed.

The left parties alleged that the government was "plundering" the Reserve Bank of India (RBI) and banks to bailout corporates, instead of boosting demand by raising minimum wages, old-age pension.

Yechury, while addressing the demonstration, pointed out that the economic slowdown in the country is a direct result of the "negative policies of the government". He said this includes demonetisation and faulty implementation of GST, which have adversely affected the economy.

"India's economy was already reeling under increasing unemployment, price rise, retrenchment and livelihood issues. The Modi government has been ignoring the high rate of unemployment, contract system, low wages and agrarian crisis. This has put huge burdens on the vast working sections of the country," he said.

The parties also alleged that the government has withdrawn Rs 1.76 lakh crore from the RBI and instead of using it for public expenditure, which can generate new jobs and increase domestic demand, it wants to compensate the fiscal deficit of Rs 1.70 lakh crore, which was a result of demonetisation and Goods and Services Tax (GST).