Sitaram Yechury attacks govt: selling 'family silver' makes no sense

On Friday, CPI(M) General Secretary Sitaram Yechury, took a jibe at the Modi government’s plan to privatise PSUs saying that the government has driven the economy to the ground. He further claimed that "selling family silver to meet expenses," made neither economic nor common sense. Sitaram Yechury also said that this would result in job loss and large scale retrenchment would encourage public misery. Yechury also alleged that Modi was busy campaigning for Donald Trump while he was also dismantling India's Constitutional order.

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Selling 'Family silver' makes no sense: Sitaram Yechury   

In a tweet, Sitaram Yechury said the government's actions showed the opposite of what it claimed to do. 

In a series of tweets, the CPI(M) politician quoted news reports and tweeted out that the government had brought down the economic momentum of the country to a 'historic low'. While farmers and the youth struggle for basic income, the government has announced relief for India's richest, whose net worth equals 10% of the country's GDP, the politician tweeted.

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Government push towards privatisation

The government's topmost priority remains privatisation, a senior Finance Ministry official reportedly said. He added that the government would sell “whatever is saleable” and was planning to breach the 51% ownership in a few public sector entities. He said that the Prime Minister supported the decision. The official explained that the Cabinet had in the past decided to own at least 51% in PSUs and that Cabinet itself will now decide on going down below 51%.

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(With PTI Inputs)