100 pc FDI in coal mining: 2 Left parties slam Centre, demand decision reversal

Two Left parties hit out at the Centre on Thursday over the country's economic situation and demanded reversal of its decision to allow 100 per cent foreign investment in coal mining.

In a fresh round of FDI reforms, the government on Wednesday allowed 100 per cent foreign investment in coal mining and contract manufacturing, eased sourcing norms for single-brand retailers and approved 26 per cent overseas investment in digital media as it looks to boost economic growth from a five-year low.

The CPI(M) in a statement said, "The politburo of the CPI(M) strongly opposes the decision of the Union Cabinet to allow 100 FDI in coal mining... This reckless measure will enable foreign companies to plunder the mineral resources of our country."