Modi rule worsens economic condition: CPI-M

New Delhi, June 8 (IANS) In the one year Narendra Modi has been the prime minister, all the three sectors of the economy – industry, agriculture and services – “are in a deep crisis”, the CPI-M said on Monday.

And contrary to the BJP’s claims, the livelihood conditions of the vast majority of the Indian people were actually declining, the Communist Party of India-Marxist said in a statement.

It said the massive hikes in the prices of petroleum products in the background of the fall in the international price of crude oil was leading to all-round inflation, particularly of food items.

The statement, issued after a meeting of the party’s central committee on June 6-7, said the government’s claims of economic turnaround since Modi took power in May 2014 were false.

It said both investment and consumer demand had stagnated, worsening the unemployment situation.

“Notwithstanding the hype of `Make in India’, foreign investment both in the equity markets and direct production has declined,” it said, adding that the agrarian distress has continued to deepen.

The CPI-M said in the past one year, communal polarisation had sharpened and accused the government of patronising “the real agenda of the RSS in unleashing vicious communal attacks”.

It said that centre-state relations were deteriorating with the appointment of leading RSS figures or BJP politicians as governors of the states.

“In Delhi, the elected state government and the centre, through the office of the Lt governor, are logged in a bitter battle over appointments of
officers.”

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