labels: economy - general, agriculture
Left picks holes in agriculture FDI news
12 July 2006

Mumbai: Close on the heels of the Reserve Bank seeking clarifications from the government on its decision to allow NRI investments in areas like agriculture, plantation and real estate through the automatic route by transfer of shares, now the CPI (M) has asked the government to rescind any policy decision to open these sensitive areas for 100-per cent FDI.

Reacting to the recommendation to this effect by a group of ministers headed by agriculture minister Sharad Pawar, the CPM politburo said such a decision would "only aggravate the already deepening agrarian crisis in the country, which is marked by growing distress suicides and starvation deaths".

Pointing out that trade liberalisation has already hurt producers of commercial crops, including plantations, the CPM said, "In Kerala particularly, lakhs of people are facing pauperisation especially in areas producing coffee, pepper, cardamom etc".

It asked the UPA government to "desist from any such move and rescind any policy decisions if taken on this score".


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Left picks holes in agriculture FDI