[Marxistindia] Stop the Insurance Bill

[news from the cpi(m)]

December 22, 2008

 

Press Statement

 

The Polit Bureau of the Communist Party of India (Marxist) has issued the following statement:

 

Stop the Insurance Bill

 

The Manmohan Singh government has introduced a Bill in the Rajya Sabha to increase the FDI cap in insurance sector from 26 to 49 per cent. This is a shameless move to facilitate greater control of the insurance sector by foreign insurance companies.  It is shocking that the Congress-led government is taking this step at a time when the financial crisis in the United States has exposed the pernicious practices of the insurance and financial companies of the West.  

 

The CPI(M) denounces this move by the Manmohan Singh government which will harm the financial sector and import the crisis into our system.  This confirms the fact that this government is more interested in favouring international financial capital at the expense of the country's interests.  The CPI(M) extends its full support to the strike on December 23 by the insurance employees against this Bill.

 eom