September 01, 2019
Reverse Decisions on FDI in Coal Mining & Retail Trade

CPI(M) Polit Bureau has issued the following statement on August 29

THE Polit Bureau of the CPI(M) strongly opposes the decision of the union cabinet to allow 100 per cent FDI in coal mining for all commercial purposes along with 100 per cent FDI in contract manufacturing. This reckless measure will enable foreign companies to plunder the mineral resources of our country.

This decision will also have a harmful effect on Coal India Ltd which is the premier national coal miner. The Modi government is bent upon weakening the public sector coal company. It had already opened coal mining to Indian private entities during its last tenure. The BJP government is surrendering national control over the mineral resources which is highly detrimental to the country’s interests.

The other decision to dilute the norms for 100 per cent FDI in single brand retail trade is also retrograde and will adversely affect the vast retail trade sector in the country.

The Polit Bureau of the CPI(M) demands that the government reverse these measures.