FM takes on Left

A day after Finance Minister P Chidambaram took an indirect swipe at the left accusing them of slowing down economic growth, irate Left leaders have hit back to the FM's comments. CPI(M)Politburo member -- Sitram Yechury took strong exception to the Finance Minister's comments and said that he is attempting to mislead the general public in terms of what the left stands for. He said that the left is not against growth, but it is against growth that benefits a small minority and that the left wanted growth to be more inclusive.

Sitaram Yechury said that the Finance Minister should be more concerned about inclusive growth and should not be concerned about the growth of a small group. Also reacting to the FM was Brinda Karat -- CPI(M)Politburo member said that they have started their position on reforms in Parliament. She also added that Finance Minister has not been able to answer some questions raised by the Left. She added that price rise has been one of the biggest failures of this government. She said, "India should be protected from global trends which is also a creation of this new liberal framework. Though the corporate sector and markets are showing a growth, large section of poor people have not seen the growth."


'Don't find fault in everything we do'

Finance Minister P Chidambaram took a swipe indirectly at his left allies. In comments that did not go down well with the left parties, the FM has indirectly hit out at the left parties and said that those who claim that growth only helped the rich are the worst enemies of the poor.

Chidambaram said that some 60 members of parliament criticised everything being done by Prime Minister Manmohan Singh and him to improve the economy. Though the Finance Minister did not directly mention the Left, but made a clear reference to them as they hold 62 seats in the Lok Sabha.

P Chidambaram said, "What do they want us to do? Do they only want us to distribute poverty in this country? Those who say the market growth is irrelevant and those who say the growth only helps the rich are the worst enemies of the poor. “The FM went on to explain that with the Indian economy growing at close to 9% , poverty can be wiped out in the next generation if the current pace of growth is sustained.

He also added, "They say that the economic growth is irrelevant and only a small group of people had benefited from it", but "if we continue to grow close to nine percent, by 2020 India's per capita income will be US $2,000 and by 2050 it will be $16,000. If this growth rate continues, I will provide Rs.15,100 crore (Rs.151 billion) for the Sarva Siksha Abhiyan (universal education programme) and Rs.8,000 crore (Rs.80 billion) for the midday meal scheme next year."

Chidambaram said the United Progressive Alliance (UPA) government was able to implement many development programmes for people only because of the high growth rate. "If we continue to grow at this rate, India will be among the most prosperous countries in the world," he said

(With inputs from PTI)