Economy failed to show turnaround, BJP policies defective: CPI

Stating that the economy has "failed" to show a turnaround, the Communist Party of India (CPI) today dubbed as "defective" the economic policies of the central government.
The CPI, whose top brass was here today for its National Council meeting, also lashed out at Prime Minister Narendra Modi Land over the Land Acquisition Bill and said it will continue to oppose the prosed "land grab" legislation till it was withdrawn.
"We are critical of the Modi government because its (economic) polices have proved to be defective... Economy is doing bad, manufacturing sector showed no growth and agriculture sector is in deep crisis," CPI National Secretary D Raja said here today while sharing party's concern about BJP government's economic policies.

Stressing on the need for stepping up public investment in social and education sectors, Raja said the Centre had "failed" to generate jobs and increase purchasing power of common man.
"You must generate jobs, you must increase purchasing power of people... Where Modi government is failing. Somebody should explain," the Left leader said.
In a strong critique of the Modi government's 'Make in India', Raja said the initiative was nothing except an invitation to industry to make profit.

"Make in India means what? Come and make profit in India... That is why he is inviting everybody," he said.
The CPI National Secretary also accused Modi government of supporting big corporates and weakening public sector industries.

"After Narendra Modi government came to power, it reduced corporate tax from 30 to 25 per cent. Why did you do that? Why did you give concession to big corporates and industrial houses? It is a major issue which we are raising," he said.
"Why do you want to weaken public sector industries, banks and insurance companies by reducing government equity in it," he asked.
"Banks' Non Performing Assets are rising. It is not poor people that took money. It is the rich people that took money and they are not paying," Raja said even as he flayed the the flayed Modi government for staying silent on the black money issue.

"Why the government is not speaking on black money. Because nothing is done," he said.