Modi Government Appeasing 'Big Business', Says CPI-M

NEW DELHI: The Cpi-m" target="_blank">CPI-M Sunday accused the Narendra Modi government of promoting "Indian big business and international finance capital".

The Communist Party of India-Marxist's politburo said in a statement after a two-day meet here that it had become clear that the Modi government "will adopt policies for the benefit of big business and international finance capital".

It said the union budget appeared "to provide concessions to the corporates and the upper classes at the expense of the poorer sections" and "is a trajectory for significant privatisation of the economy".

"The CPI-M is opposed to the increase of FDI in defence production to 49 percent," the statement said.

"Foreign arms companies getting a controlling stake in the defence production enterprises will be detrimental to national sovereignty.

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