Peoples Democracy newsletter

Peoples Democracy newsletter

The Great Bank of Baroda Loot

A FEW days ago, Subhash Chandra, a former Member of Parliament of the ruling party and the owner of Zee Group, which helped bring them to power, was hard to miss in the media. That was when the Insolvency and Bankruptcy Code (IBC), passed by the Indian Parliament in 2016 for the benefit of corporate giants, and the associated 'haircuts' came to light, at least to some extent. Some people were shocked to hear that 99.97 per cent of the dues simply vanished into thin air. Those who were shocked should remain vigilant.

Lethal Recipe for Destruction of Indian Economy

EVEN before the dust had settled down over the bombastic and unbelievable claim by Modi that in the last quarter Indian economy has grown by 7.8 per cent, the charge that the government has capitulated before the US and the Trump administration over the imposition of 0.4 per cent charge in some categories of digital transactions through the Unified Payments Interface (UPI) has completely exposed the pusillanimity of our economic administrators. A host of issues do call the bluff that the Modi government indulged in.

Odisha State Committee Calls for Mass Struggles

THE two-day meeting of the CPI(M) Odisha State Committee, held on September 19–20, undertook a comprehensive review of the political and organisational situation in the state and chalked out a programme of struggles on the major issues confronting the people. Politburo member Srideep Bhattacharya and Central Secretariat member Dr K. Hemalata participated in the discussions. State Secretary Suresh Chandra Panigrahy presented the political and organisational report, followed by detailed discussion among the members.

Donald Trump and His Tariffs

DONALD Trump has now got legislative clearance from both houses in the US to charge up to 100 percent tariffs on imports from countries that have been doing business with Russia in violation of the unilateral sanctions imposed upon it by the North in the wake of the Ukraine war. India and China which are substantial buyers of Russian oil are likely to be the main targets of these Trump tariffs.

Delhi: Structural Changes Needed to Prevent another Satya Niketan

Mass organisations such as the SFI, DYFI, Democratic Teachers Front (DTF), AIDWA and the CITU have called for structural changes to prevent recurrence of an incident like the collapse of a student accommodation in Delhi on September 6 that killed seven people and injured a dozen others. In a statement, the organisations said the deaths of students caused by the collapse of the five-storey building housing a paying guest (PG) accommodation for boys in Satya Niketan in Delhi are neither an isolated nor a sudden accident.

Severe Drought in Andhra Pradesh; CPI(M) demands ₹1-lakh-crore special package

As rainfall deficit deepened agrarian distress, CPI(M) Andhra Pradesh state secretary V Srinivasa Rao demanded that the central government announce a special package of ₹1 lakh crore to tackle the severe drought prevailing across the state. Addressing the media in Vijayawada on September 13, along with party state secretariat members, Srinivasa Rao said that 655 of the state’s 688 mandals were experiencing a rainfall deficit.

The AI Frontier Asks to Be Paced: Anatomy of a Panic

ON September 8, a 27-year-old researcher named Jacob Coxon, a few months into a job at Anthropic (a leading US AI company) after three years at OpenAI, announced his resignation on X. "Neither company is acting responsibly," he wrote. "They are racing straight to self-improving superintelligence and gambling with our lives." Within a day, the post had been read more than 100 million times.

The Weaponisation of The Dollar

The Bretton Woods system institutionalized the US dollar as a global reserve currency, with the US pledging to buy and sell gold from foreign governments and central banks at a fixed price of $35 per ounce of gold. The reserve currency role of the dollar was predicated on the belief that there would not be a rush to exchange dollars for gold, that is, on an expectation of stability in the gold price of dollars, which in turn was based on an expectation of stability (at least over time, barring short-term fluctuations) in the dollar prices of commodities.

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