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7th, August, 2012:New Delhi: The Central Secretariat of the Communist Party of India (CPI) strongly decries the maiden announcement by Sri P Chidambaram, after returning to the finance ministry. It is no strange the FM has come out with an anti-people, anti-worker, anti-aam aadmi assessment. Anybody who knows him from close quarters, including many even in his own party, will agree that he has been handpicked by the Prime Minister Manmohan Singh so that the corporate as well as MNC interests are protected.
As far as his move to exempt multinational companies, including Vodafone, from payment of tax on assets they acquire in India and to facilitate tax avoidance by foreign and Indian corporates, is a full-fledged attempt to reverse the retrospective effect in the tax law. He has in fact insulted Parliament, which while adopting the Finance Bill accepted this norm. Vodafone will of course get a tax relief of Rs 12,000 crore on acquisitions in India, through the new step.
Another measure announced by the FM is aimed at enabling tax avoidance by companies using the Mauritius route. For that he is going to review norms under the General Anti Avoidance Rules (GAAR).
The neo-liberal package of measures worked out by the FM does not speak of workers’ rights, drought relief measures to peasantry, food security and universal PDS, interest-free study loans for students, more jobs for youth, pension and other social security measures for aam aadmi.
The CPI demands that economic policies announced by the finance minister should be withheld and the new policies should be discussed in Parliament.
General Secretary: S. Sudhakar Reddy
                                                                                                                      
(S.S.Bhusari)
                                                                                                                    Office Secretary
COMMUNIST PARTY OF INDIA
Central Office
Ajoy Bhavan, 15, Com. Indrajit Gupta Marg, New Delhi-110002
Telephone: 23232801, 23235058, Fax: 23235543, Email: cpiofindia@gmail.com
________________________________________________________________________ 

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