People's miseries to mount: CPI-M

"People's miseries are going to mount exponentially," with Prime Minister Narendra Modi's government all set to unleash a new surge of economic reforms, the CPI-M has said.

"The real meaning of the BJP's election slogans of 'development' and 'ache din aanewale hain' are unfolding," CPI-M journal "People's Democracy" said in an editorial.

"The singular message is that people's miseries are going to mount exponentially."

The editorial said now was the "payback time for those who heavily financed the BJP election campaign.

"Though much of the payback has already happened through market capitalisation as a result of the surge in the sensex and the stock market on the morrow of results, it is clear this is not simply sustainable."

It said India Inc was hoping that a new surge of economic reforms, particularly financial liberalisation, would begin soon.

"Such reforms are aimed at making capital available to the corporates in an easier manner and on lower interest rates."

The CPI-M journal referred to Modi's advocacy of "tough economic decisions" on June 13.