This Convention

notes with deep anguish that

the Indian economy is in the grip of an extremely serious crisis bordering on a recession. All evidence, including the doctored official data, confirms that in almost all sectors of the economy, there is a collapse of demand leading to big cuts in production and an unprecedented mounting job losses, women being the worst victims. The sales of automobiles, textiles upto the sale of biscuits in a country that loves “chai biskut” tellingly demonstrates the current reality.

expresses deep concern that

from being in a state of virtual denial, the Modi government is now grudgingly acknowledging that there is an economic slowdown. The Modi government however refuses to admit that its own policies like demonetisation and the ill-conceived, ill-prepared introduction of the GST have cost irreversible damage to the economy which was already beleaguered by growing unemployment, price rise and crisis of livelihoods. The Modi government continues to remain oblivious to the problems of growing mass unemployment, underemployment, low wages and incomes and the deepening agrarian distress. This has resulted in compounding the misery of the large majority of our working people. Instead of addressing these issues, the Modi government is seeking to divert people’s attention by rousing passions that deepen polarisation.

         unequivocally condemns that

the fruits of whatever little growth has taken place is increasingly being cornered by a small minority of India’s super-rich thanks to Modi government’s crony capitalism. The government has now withdrawn the announced tax surcharge on the superrich. The vast and rapidly increasing levels of inequality make India one of the most unequal of societies in the world. These are the inevitable consequences of neoliberal economic reforms.

with serious concern

the Indian economy is clearly suffering from a drastic shrinkage of domestic demand because of the lack of purchasing power amongst the vast majority of the people. Unless people’s purchasing power increases, domestic demand cannot grow. In turn, the stagnation and decline in the manufacturing and industrial sector will further exacerbate. This can only be done by massive public investments in infrastructure, generate new jobs in a big way and thus increase people’s purchasing power and domestic demand.

strongly disapproves that

instead of doing this, the Modi government once again seeks to provide greater concessions for private capital hoping that investment levels will grow and targeting the expansion of India’s exports. This is what the finance minister has recently announced through a slew of measures costing over Rs 70,000 crores. By targeting the realty and housing sectors, the government has once again turned oblivious to the fact that houses are not being purchased by the people simply because they lack the money to do so. In a situation of global economic slowdown with global trade volumes declining sharply, any effort to boost India’s exports simply cannot succeed.

under these circumstances

the Left parties demand that the Rs 1.76 lakh crore taken by the government from the RBI reserves must be used for public investment programmes to generate jobs and domestic demand. Instead the Modi government seeks to meet the revenue deficit of Rs 1,70,000 crores incurred last year due to demonetisation and GST with this money.

This convention hence demands

• Increased public investment to generate employment. Untill then the central government must provide unemployment allowance to the youth.
• Ensure a minimum wage of Rs 18,000 per month.
• The government must ensure the provision of monthly living wages for the large number of workers who have been terminated.
• Stop privatisation of the public sector. Withdraw 100 per cent FDI in defence and coal sectors. Halt the large scale privatisation of BSNL, ordnance factories, Indian Railways, Air India etc.

·         Allocations for MGNREGA must be enhanced to ensure the payment of past dues and for providing a minimum of 200 days of work at the designated minimum wage.

·         A one-time loan waiver to the farmers to meet agrarian distress, stem growing farmers suicides and announcement and implementation of the minimum support price one and half times higher than the input costs.

·         Raise minimum monthly old age/widow pension to Rs 3000.

This convention of the Left parties resolves to

call upon all its units to conduct protest on these issues and organise protest activities demanding the immediate implementation of the above demands by the Modi government between October 10-16, 2019.

convention appeals

all our democratic forces to join these protest actions in order to build up a popular people’s protest movement.